Trump privately pressed Johnson to increase the tax rate on the highest earners and close the so-called carried interest loophole.

U.S. President Donald Trump privately urged House Speaker Mike Johnson during a phone call on Wednesday to raise the tax rate on the wealthiest Americans and close the carried interest loophole for Wall Street investors,

After flirting with raising the tax rate for the wealthiest earners, President Donald Trump is backing off that call — sort of