Trump rules out for now cutting capital-gains taxes

FAN Editor
FILE PHOTO: U.S. President Donald Trump speaks at HBCU week conference in Washington
FILE PHOTO: U.S. President Donald Trump arrives to address the 2019 National Historically Black Colleges and Universities (HBCU) week conference in Washington, U.S., September 10, 2019. REUTERS/Leah Millis

September 12, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump has ruled out for now slashing taxes on capital gains after a meeting with his advisers, a White House spokesman said on Wednesday.

The Wall Street Journal reported earlier on Wednesday that Trump was meeting with advisers to discuss the possibility of lowering capital-gains taxes by indexing earnings to inflation.

Trump said last month that such a plan could be under consideration, before apparently reversing course, saying that indexing capital gains taxes to inflation could be perceived as elitist.

“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 in a statement.

Tying capital gains taxes to the inflation rate could lower the taxes investors pay on profits from selling assets.

(Reporting by Jeff Mason; Writing by Makini Brice; Editing by Peter Cooney)

Free America Network Articles

Leave a Reply

Next Post

GE to cede majority control of Baker Hughes in $2.7 billion share sale

FILE PHOTO: The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. Picture taken July 23, 2019. REUTERS/Alwyn Scott September 12, 2019 (Reuters) – General Electric Co on Wednesday said it plans to reduce its ownership in oil and gas […]