In a notable shift from traditional Republican policy, President Donald Trump has proposed raising taxes on high-income earners to help finance broader tax cuts for middle- and working-class Americans.
The plan would increase the tax rate for individuals earning over $2.5 million annually from 37% to nearly 40%, returning it to the pre-2017 level of 39.6%.
A source familiar with Trump's thinking explained that the change is aimed at funding tax relief and safeguarding Medicaid, the public health program for low-income citizens. The move has sparked criticism from conservative groups, who argue it resembles Democratic proposals.
Trump's plan comes as lawmakers discuss extending his 2017 tax cuts, which are set to expire next year. These talks have also exposed divisions within the Republican party over how to finance the new fiscal package.
In addition to targeting wealthy individuals, Trump is open to ending the favorable tax treatment of hedge fund and private equity earnings, known as "carried interest", a change that would impact Wall Street. Lawmakers are also considering raising the cap on state and local tax (SALT) deductions from $10,000 to $30,000, offering potential relief to property owners in wealthier areas.
Despite resistance from some Republicans, House Speaker Mike Johnson expressed confidence that a compromise would be reached. Nonetheless, Trump's proposed tax hikes have stirred controversy among anti-tax conservatives, who see them as a departure from core Republican values.
French President Emmanuel Macron urged Chinese President Xi Jinping to avoid tariffs on Cognac and to support ceasefires in Ukraine and Gaza, as the leaders discussed trade tensions and global conflicts.
Donald Trump’s flagship bill has passed the House. It promises tax cuts, military spending, and deep cuts to social programmes. The price: $2.4 trillion added to the U.S. debt.
Germany’s far-right AfD says the Bundeswehr has become too soft and wants to bring back discipline and a “warrior culture” inspired by the U.S. military under Trump, slamming progressive reforms as harmful to combat readiness.
U.S. President Donald Trump has launched an ambitious missile defense initiative dubbed the “Golden Dome,” pledging to shield the United States from advanced missile threats using space-based technology—drawing attention from world leaders.
Russia has voiced serious concern over the U.S. Golden Dome defense initiative, a $175 billion project aimed at countering threats from China and Russia.
The 7th Ethnosport Culture Festival kicked off in Istanbul with Azerbaijan’s 100-member team and famed Karabakh horses drawing major attention.
Iran’s foreign minister Abbas Araqchi declared that the United States would bear legal responsibility if Israel launches an attack on Iranian nuclear facilities, amid reports of potential Israeli military action and ongoing nuclear negotiations in Rome.
A rare naval misstep has shaken North Korea’s tightly choreographed military image, prompting an urgent internal probe and public scolding from Kim Jong Un.
Baku hosted the 6th plenary meeting of the UN’s GlobE Network, gathering anti-corruption officials from 92 countries to strengthen global cooperation and chart the network’s next steps.
The suspect in the fatal shooting of two Israeli embassy aides in Washington has been charged with first-degree murder, the U.S. Justice Department confirmed.
Tensions flare in the India-France Rafale deal as France refuses to share the fighter jet’s source code, limiting India’s ability to integrate indigenous weapons and reducing its combat autonomy.
France has rejected India’s request to share source codes needed to integrate indigenous weapons into Rafale fighter jets. Despite repeated appeals, French manufacturer Dassault Aviation has refused to compromise on the issue
AnewZ and Kazakhstan’s Jibek Joly/Silk Way TV channel co-hosted a special AnewZ Talks in Astana at Maqsut Narikbayev University (MNU), uniting global experts and young leaders at Silk Road Media Group’s journalism school to explore the growing intersection of media and diplomacy.
Anton Kobyakov, adviser to Russian President Vladimir Putin, claimed at the St. Petersburg International Legal Forum that the USSR’s dissolution was legally invalid and that the Soviet Union still exists under constitutional law, framing the Ukraine war as an “internal process.”
The Tehran Dialogue Forum 2025, scheduled for May 18–19, will host 200 international guests, including 40 current and former European officials.
Adidas and Puma are expected to raise prices in the U.S. after Nike increased footwear costs, as rising import tariffs push up expenses across the sportswear industry.
Shein says French consumers may face higher prices if the EU imposes handling fees and France enacts new penalties on fast fashion. The platform criticizes the lack of dialogue with authorities as pressure mounts on budget e-commerce models.
Telegram has reported a remarkable $540 million profit last year, marking its first annual profit after years of losses. The Dubai-based messaging app’s revenues surged to $1.4 billion in 2024, up from $343 million the previous year, based on a company presentation reviewed by the Financial Times.
The U.S. government's decision in April 2025 to impose stricter export controls on advanced semiconductors has delivered a significant blow to Nvidia, compelling the company to obtain licenses for sales of its H20 AI chips to China—one of its largest and most strategically important markets.
Chinese EV maker BYD has unveiled its budget-friendly Dolphin Surf in Berlin, intensifying competition in Europe's electric car market with prices starting at just €19,990.
The 7th Ethnosport Culture Festival kicked off in Istanbul with Azerbaijan’s 100-member team and famed Karabakh horses drawing major attention.
Iran’s foreign minister Abbas Araqchi declared that the United States would bear legal responsibility if Israel launches an attack on Iranian nuclear facilities, amid reports of potential Israeli military action and ongoing nuclear negotiations in Rome.
A rare naval misstep has shaken North Korea’s tightly choreographed military image, prompting an urgent internal probe and public scolding from Kim Jong Un.
Baku hosted the 6th plenary meeting of the UN’s GlobE Network, gathering anti-corruption officials from 92 countries to strengthen global cooperation and chart the network’s next steps.
The suspect in the fatal shooting of two Israeli embassy aides in Washington has been charged with first-degree murder, the U.S. Justice Department confirmed.
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