President Donald Trump is considering increasing taxes on Americans who make over $1 million a year to offset his tax cuts.

Trump, Vice President JD Vance and Treasury Secretary Scott Bessent are open to a plan to increase taxes on wealthy Americans, according to a report Tuesay from The Washington Post.

This potential plan is creating a rift among Republicans, with some saying such a tax would result in the party losing support, while others say it would benefit the GOP.

Outside Trump advisers Newt Gingrich, Steve Moore and Larry Kudlow are against the plan, while former Trump strategist Steve Bannon is supportive of the plan. 

Bessent said he is open to many different ideas on how to fund Trump's tax cuts, including raising taxes on Americans who make over $5 million per year, sources said. 

The tax cuts approved by Republicans in 2017 will expire at the end of the year unless Congress takes action.