The Trump administration is considering an option of allowing the president’s 2017 tax cuts to expire for the top 1% richest Americans as a way to pay for his campaign promise of not taxing tips, Axios reported.

The move would adjust the top tax rate from 37% to the pre-2018 rate of 39.6%, according to the report. It would also lower the threshold of the top rate from $609,351 for an individual or $731,201 for a married couple, Axios reported.

President Donald Trump first unveiled his vow to end federal income tax on tips during a campaign rally in Las Vegas last June.

Read more at Newsmax© 2025 Newsmax. All rights reserved.