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Trump's tax hike proposal is 'déjà vu' of George H. W. Bush's 'read my lips' moment, experts say

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Trump's tax hike proposal is 'déjà vu' of George H. W. Bush's 'read my lips' moment, experts say

Americans lambasted President George H. W. Bush for infamously vowing on stage at the 1988 Republican National Convention not to raise taxes on Americans, then supporting a tax hike as president two years later. 

History could repeat itself as President Donald Trump this week signaled his support for congressional Republicans raising taxes to accomplish the ambitious goals of his “big, beautiful bill,” according to experts.

“My opponent won’t rule out raising taxes, but I will. And the Congress will push me to raise taxes, and I’ll say no. And they’ll push and I’ll say no. And they’ll push again, and I’ll say to them: ‘Read my lips: no new taxes,’” then-Vice President Bush vowed at the 1988 convention, before raising taxes two years later with the Omnibus Budget Reconciliation Act of 1990. 

While acknowledging the political backlash his fellow Republican faced, Trump signaled in a Truth Social post on Friday his own willingness to raise taxes on Americans, following reports confirmed by Fox News Digital that the president is considering raising the tax rate on individuals making $2.5 million or more by 2.6%, from 37% to 39.6%.

TRUMP CONSIDERS TAX HIKE ON AMERICANS MAKING $2.5 MILLION OR MORE PER YEAR

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Political experts compared President Donald Trump, right, to President George H. W. Bush after Trump signaled his support for a small tax hike.  (Pool/Getty Images)

“The problem with even a ‘TINY’ tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, ‘Read my lips,’ the fabled Quote by George Bush the Elder that is said to have cost him the Election. NO, Ross Perot cost him the Election! In any event, Republicans should probably not do it, but I’m OK if they do!!!” Trump said. 

WHITE HOUSE QUIETLY FLOATS MILLIONAIRE TAX HIKE PROPOSAL IN CONGRESS AS GOP LEADERS SIGNAL OPPOSITION

Ross Perot, the late billionaire Texas businessman and philanthropist, ran an independent campaign as a third-party candidate in the 1992 presidential election, winning an historic 19% of the popular vote.

As Trump suggested, the political fallout of raising taxes contributed to Bush losing re-election to President Bill Clinton in 1992. Democrats slammed Bush in campaign ads for walking back his word as conservative Republicans criticized the president for being out of step with the party’s traditional tax policies. 

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Former House Speaker Newt Gingrich led Republican criticism of Bush’s tax hike proposal, and Gingrich has urged Trump to stand down on raising taxes since rumors the administration was floating a small tax hike first swirled. 

TRUMP’S FIRST VICE PRESIDENT URGES HIS OLD BOSS AGAINST RAISING TAXES ON WEALTHY AMERICANS

Gingrich recently told Larry Kudlow on FOX Business that Trump is a Ronald Reagan Republican, not a Bush Republican, and raising taxes would be an “act of destruction.”

“It would absolutely shatter his coalition,” Gingrich said. “It would mean the entire conservative movement would rise in rebellion, and it would mean every small business in the country would start recalculating who they are going to lay off, if they are even going to stay in business. It would make no sense at all.”

House Speaker Mike Johnson, R-La., is leading ongoing budget negotiations for Trump’s “big, beautiful bill.” (Kent Nishimura/Getty Images)

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Negotiations are ongoing among House Republicans to finalize Trump’s “big, beautiful bill,” which is expected to include an extension of Trump’s 2017 tax cuts and fulfill campaign promises, including no tax on tips, overtime or Social Security. 

Republican politicians and pundits have joined Gingrich’s critique of Trump’s potential tax hike, arguing Trump is repeating the same mistakes as Bush. 

“[House] Speaker [Mike] Johnson and Republican members of Congress must have experienced collective déjà vu when President Trump urged Congress to raise taxes,” New England College President Wayne Lesperance, a veteran political scientist and political historian, told Fox News Digital.           

“Harkening back to the infamous ‘Read my lips’ pledge made by George H. W. Bush at the 1988 GOP Convention, today’s Republicans must be nervous at the president’s change on what is a sacrosanct issue for the party — tax cuts. Interestingly, George H. W. Bush’s decision to break his pledge was surrounded by notably different circumstances,” Lesperance added. 

In this Feb. 11, 1991, file photo, President George H. W. Bush talks to reporters in the Rose Garden of the White House in Washington, D.C., after meeting with top military advisors to discuss the Persian Gulf War.  (AP Photo/Ron Edmonds, File)

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But Lesperance reminded Republicans, who currently control the House and Senate, that Democrats could gain an edge in the 2026 midterms if tax hikes prove to be as unpopular among Republicans as they were in 1992. 

“Facing a Democratically controlled Congress, Bush reneged on his pledge as a compromise to reduce the deficit and pass the 1990 budget agreement. Bush’s decision to compromise on taxes is widely credited with costing him his bid for re-election. As Speaker Johnson and Republican members of Congress look ahead to midterm elections, there must be collective worry that President Trump’s shifting position on taxes will cost them at the polls,” Lesperance said. 

Longtime Republican consultant David Carney, a veteran of numerous GOP presidential campaigns, said the move by Bush “was probably the single most detrimental thing to his re-election.”

Then-Republican presidential candidate Donald Trump speaks during a campaign rally at Madison Square Garden in New York on Oct. 27, 2024. (Angela Weiss/AFP via Getty Images)

Carney, who served in the elder Bush’s White House and worked on his presidential campaigns, told Fox News “the deal he cut was excellent. He cut spending, balanced out the taxes.”

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But Carney emphasized “all that’s inside baseball and the reality is it was a great opportunity for people from the right and the left to make hay out of it, and it was absolutely hurtful.”

However, fiscal conservatives remain optimistic that Trump won’t raise taxes, despite the president softening to the idea on social media on Friday morning. 

“President Trump campaigned on not raising taxes, and we are confident that’s exactly what he’ll do,” Club for Growth President David McIntosh told Fox News Digital. 

When reached for comment about the Bush comparison, the White House pointed to press secretary Karoline Leavitt’s comments during the White House briefing on Friday. 

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“The president wants tax cuts, the largest tax cuts in history,” Leavitt said. “He wants to extend his historic tax cuts from 2017, and he wants to see all the other tax priorities,” including no tax on tips, overtime or Social Security. 

“The president has said he himself personally would not mind paying a little bit more to help the poor and the middle class and the working class in this country. I think, frankly, that’s a very honorable position. But again, these negotiations are ongoing on Capitol Hill, and the president will weigh in when he feels necessary,” she added. 

Fox News Digital’s Elizabeth Elkind contributed to this report. 

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Video: U.S. ‘Accelerating’ Military Assault in Iran, Hegseth Says

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Video: U.S. ‘Accelerating’ Military Assault in Iran, Hegseth Says

new video loaded: U.S. ‘Accelerating’ Military Assault in Iran, Hegseth Says

On the fifth day of the war in Iran, Defense Secretary Pete Hegseth said that the U.S. military operation was intensifying and that more warplanes were arriving in the region.

By Christina Kelso

March 4, 2026

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US submarine sinks Iranian warship by torpedo in a first since World War II

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US submarine sinks Iranian warship by torpedo in a first since World War II

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A U.S. submarine sank a prized Iranian warship by torpedo, the first such sinking of an enemy ship since World War II, Secretary of War Pete Hegseth said Wednesday morning.

Hegseth joined Chairman of the Joint Chiefs of Staff Gen. Dan Caine at the Pentagon to provide an update to reporters on “Operation Epic Fury” in Iran.

“An American submarine sunk an Iranian warship that thought it was safe in international waters,” Hegseth said. “Instead, it was sunk by a torpedo. Quiet death. The first sinking of an enemy ship by a torpedo since World War Two. Like in that war, back when we were still the War Department. We are fighting to win.”

Caine said that an Iranian vessel was “effectively neutralized” in a Navy “fast attack” using a single Mark 48 torpedo. He added that the U.S. Navy achieved “immediate effect, sending the warship to the bottom of the sea.”

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WATCH HEGSETH’S ANNOUNCEMENT:

Hegseth said that the U.S. Navy sank the Iranian warship, the Soleimani. The flagship was named for Qasem Soleimani, an Iranian military officer who served in the Islamic Revolutionary Guard Corps who the U.S. killed in a January 2020 drone strike during President Donald Trump’s first term.

“The Iranian Navy rests at the bottom of the Persian Gulf. Combat ineffective, decimated, destroyed, defeated. Pick your adjective,” Hegseth said. “In fact, last night we sunk their prize ship, the Soleimani. Looks like POTUS got him twice. Their navy, not a factor. Pick your adjective. It is no more.”

This map shows U.S. and Israeli strikes against Iranian naval forces as of March 1. (Fox News)

Hegseth also told reporters at the briefing that the U.S. and Israel will soon achieve “complete control” over Iranian airspace after Iran’s missile capabilities were drastically diminished in the four days of fighting.

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US ‘WINNING DECISIVELY’ AGAINST IRAN, WILL ACHIEVE ‘COMPLETE CONTROL’ OF AIRSPACE WITHIN DAYS, HEGSETH SAYS

“More bombers and more fighters are arriving just today and now, with complete control of the skies, we will be using 500 pound, one thousand pound and 2,000 pound laser-guided precision gravity bombs, of which we have a nearly unlimited stockpile,” he said.

The war has killed more than 1,000 people in Iran and dozens in Lebanon, while U.S. officials said six American troops were killed in a fatal drone strike in Kuwait.

Thousands of travelers have been left stranded across the Middle East.

This map shows security and travel updates for Americans regarding countries in the Middle East region. (Fox News)

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Caine told reporters that the U.S. military is helping thousands of Americans stranded in the Middle East after the U.S. State Department urged citizens to leave more than a dozen countries.

Fox News Digital’s Ashley Carnahan contributed to this report.

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Sen. Padilla preps for Trump trying to seize control of elections via emergency order

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Sen. Padilla preps for Trump trying to seize control of elections via emergency order

Sen. Alex Padilla (D-Calif.) is preparing for President Trump to declare a national emergency in order to seize control of this year’s midterm elections from the states, including by bracing his Senate colleagues for a vote in which they would be forced to either co-sign on the power grab or resist it.

In the wake of reporting last week that conservative activists with connections to the White House were circulating such an order, Padilla sent a letter to his Senate colleagues Friday stating that any such order would be “wildly illegal and unconstitutional,” and would no doubt face “extremely strict scrutiny” in the courts.

“Nevertheless, if the President does escalate his unprecedented assault on our democracy by declaring an election-related emergency, I will swiftly introduce a privileged resolution [and] force a vote in the Senate to terminate the fake emergency,” wrote Padilla, the ranking Democrat on the Senate Committee on Rules and Administration.

Padilla wrote that such an order — which could possibly “include banning mail-in voting, eliminating major voting registration methods, voter purges, and/or new document barriers for registering to vote and voting” — would clearly go beyond Trump’s authority.

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“Put simply, no President has the power under the Constitution or any law to take over elections, and no declaration or order can create one out of thin air,” Padilla wrote.

The same day Padilla sent his letter, Trump was asked whether he was considering declaring a national emergency around the midterms. “Who told you that?” he asked — before saying he was not considering such an order.

The White House referred The Times to that exchange when asked Tuesday for comment on Padilla’s letter.

If Trump did declare such an emergency, a “privileged resolution,” as Padilla proposed, would require the full Senate to vote on the record on whether or not to terminate it — forcing any Senate allies of the president to own the policy politically, along with him.

Experts say there is no evidence that U.S. elections are significantly affected or swung by widespread fraud or foreign interference, despite robust efforts by Trump and his allies for years to find it.

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Nonetheless, Trump has been emphatic that such fraud is occurring, particularly in blue states such as California that allow for mail-in ballots and do not have strict voter ID laws. He and others in his administration have asserted, again without evidence, that large numbers of noncitizen residents are casting votes and that others are “harvesting” ballots out of the mail and filling them out in bulk.

Soon after taking office, Trump issued an executive order purporting to require voters to show proof of U.S. citizenship before registering and barring the counting of mail-in ballots received after election day, but it was largely blocked by the courts.

Trump’s loyalist Justice Department sued red and blue states across the country for their full voter rolls, but those efforts also have largely been blocked, including in California. The FBI also raided an elections office in Georgia that has been the focus of Trump’s baseless claims that the 2020 presidential election was stolen from him.

Trump is also pushing for the passage of the SAVE Act, a voter ID bill passed by the House, but it has stalled in the Senate.

In recent weeks, Trump has expressed frustration that his demands around voting security have not translated into changes in blue state policies ahead of the upcoming midterm elections, where his shrinking approval could translate into major gains for Democrats.

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Last month, Trump wrote on his Truth Social platform, “I have searched the depths of Legal Arguments not yet articulated or vetted on this subject, and will be presenting an irrefutable one in the very near future. There will be Voter I.D. for the Midterm Elections, whether approved by Congress or not!”

Then, last week, the Washington Post reported that a draft executive order being circulated by activists with ties to Trump suggests that unproven claims of Chinese interference in the 2020 election could be used as a pretext to declare an elections emergency granting Trump sweeping authority to unilaterally institute the changes he wants to see in state-run elections.

Election experts said the Constitution is clear that states control and run elections, not with the executive branch.

Democrats have widely denounced any federal takeover of elections by Trump. And some Republicans have expressed similar concerns, including Sen. Mitch McConnell (R-Ky.), who chairs the Senate rules committee.

In the Wall Street Journal last year, McConnell warned against Trump or any Republican president asserting sweeping authority to control elections, in part because Democrats would then be empowered to claim similar authority if and when they retake power.

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McConnell’s office referred The Times to that Journal opinion piece when asked about the circulating emergency order and Padilla’s resolution.

Padilla’s office said his resolution would be introduced in response to an emergency declaration by Trump, but hoped it wouldn’t be necessary.

“Instead of trying to evade accountability at the ballot box,” Padilla wrote, “the President should focus on the needs of Americans struggling to pay for groceries, health care, housing and other everyday needs and put these illegal and unconstitutional election orders in the trash can where they belong.”

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