As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:
President Trump is not planning to take executive action to reduce capital gains taxes, the White House said Wednesday.
“President Trump was thoroughly briefed on the complex economic, legal and regulatory issues, and concluded that at this time he does not feel enough of the benefits will go to the middle class,” White House spokesman Judd Deere said.
The article goes on to state the following:
The White House’s comment comes after Trump met with his economic advisers to discuss the issue of whether to unilaterally index capital gains to inflation, therefore reducing the amount of investment gains subject to tax.
Trump had indicated in recent weeks that he was thinking about indexing capital gains, but admitted the move may be perceived as “somewhat elitist.”
— Richard Rubin (@RichardRubinDC) September 11, 2019
NEW: Trump told his advisers in a closed-door meeting today that he has decided not to go around Congress and lower capital-gains taxes by indexing gains to inflation
— Andrew Restuccia (@AndrewRestuccia) September 11, 2019
To get more information about this article, please visit TheHill.com. To weigh in, leave a comment below.