President Donald Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts in his signature economic package.

The president, who rejected a “millionaire tax” April 23, is now considering backing a tax structure that would return the top individual income-tax rate to 39.6% from 37% for people making over $2.5 million, according to people familiar with White House discussions.

The president's proposal calls for creating a new 39.6 per cent tax bracket for individuals earning at least $2.5 million, or couples making $5 million