Meadows: I Won’t Rule Out Raising Taxes on Wealthy to Partially Pay for Tax Cuts

On Thursday’s broadcast of MSNBC’s “MTP Daily,” House Freedom Caucus Chairman Representative Mark Meadows (R-NC) argued that he doesn’t believe tax reform should be revenue-neutral and wouldn’t rule out raising taxes on wealthy to partially offset the cost of tax cuts. Meadows said it was crucial to ensure that tax reform isn’t just a break for the rich. He was later asked, “Do you rule out actually raising taxes on the wealthy to pay for some of this tax cut?” Meadows answered, “You know, that’s never been anything that I’ve ruled out, and when they talk about that fourth bracket, I don’t see that happening, but let’s say we keep that top bracket at 39.6%, which is, really was part of the discussion just yesterday. That would essentially mean that we do raise the taxes on some of those. Because we’re getting rid of some of the deductions that are out there. That’s why that top bracket was set at 35%, trying to make sure even with some of the cuts, that nobody sees an increase. But the other big part is, doubling that standard deduction. That goes to those that are working hard, trying to make sure that we