NPR

Trump Administration Eyes Capital Gains Tax Cut

The Trump administration is weighing a cut in the capital gains tax. It would save wealthy Americans up to $20 billion a year, but add to the federal government's red ink.
Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on July 26, 2018 in New York.

The Trump administration is considering another big tax cut.

The administration is studying a proposal to cut capital gains taxes, a move that would primarily benefit the wealthiest Americans.

"There's been a great deal of interest in this provision for a long time," White House spokesman Hogan Gidley told reporters traveling aboard Air Force One Tuesday.

Treasury Secretary Steven Mnuchin told the that if Congress won't cut taxes

You’re reading a preview, subscribe to read more.

More from NPR

NPR1 min readAmerican Government
Donald Trump's Mar-a-Lago Classified Documents Case Is Delayed Indefinitely By Judge
The classified documents trial had been scheduled to begin May 20. But months of delays had slowed the case as prosecutors pushed for the trial to begin before the November presidential election
NPR2 min read
Toxic Culture Is The Norm At The FDIC, Outside Review Cites 500 Employee Complaints
A law firm investigation of the FDIC documents a toxic workplace culture where hundreds of employees complained of sexual harassment, discrimination and other misconduct.
NPR2 min readInternational Relations
Nebraska Republican Brings Resolution To Censure Ilhan Omar
This comes after recent remarks Omar gave on a college campus where she referred to Jewish students not engaging in an anti-Israel protest "pro-genocidal."

Related Books & Audiobooks