Republicans in the White House, Senate and House of Representatives are drafting an analysis on how best to set new tax brackets for the wealthiest people in the United States, Internet reports, a move that shows that the Republican Party under President Donald Trump is seriously considering the idea of raising taxes on the rich. According to people familiar with the matter, the House proposal would set a 40% tax rate for taxpayers with annual incomes of $1 million or more. Sources pointed out that economic policy advisers to the Senate and the Trump administration are also studying the idea. A White House official said Trump was open to establishing a new top tax bracket. But the official emphasized that the threshold for higher taxes should be well above $1 million.