Australia Prime Minister Anthony Albanese said on Wednesday he would consult lawmakers to modify proposed tax cuts for higher earners, potentially breaking an election pledge in a decision some economists worry could stoke inflation. The already-legislated tax cuts were due to abolish a 37% tax band for those earning A$120,000 ($78,960) to A$180,000 a year, as well as applying a 30% tax rate to income between A$45,000 and A$200,000 that currently begins at 32.5%.
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