GOP could raise student loan bills to pay for Trump’s tax cuts
Millions of student loan borrowers could be stuck paying more as GOP lawmakers considering ending repayment plans to fund Trump’s tax cuts.
Straight Arrow News
WASHINGTON – President Donald Trump appeared to rule out a proposal to raise taxes on millionaires, arguing they would flee the country over the policy.
“I think it would be very disruptive because a lot of millionaires would leave the country,” Trump told reporters in the Oval Office on April 23. “You’ll lose a lot of money if you do that.”
Trump allies such as Steve Bannon have supported raising taxes on the rich, but the president hadn’t taken a position. Trump has suggested tariffs could potentially replace the income tax, as they had before the tax was adopted about a century ago.