In addition to several weekend executive actions that included a payroll tax holiday, President Trump is “very seriously” considering a capital gains tax cut, which would “create a lot more jobs.”
While the president can’t unilaterally slash the 20% long-term capital gains rate without Congress, some advisers say he could issue an executive order that would slash tax bills for investors when they sell assets.
The move, known as indexing capital gains to inflation, would likely face legal challenges, and comes as Trump also explores “an income tax cut for middle-income families.”
“There is no reason the economy can’t grow at a 20% pace in the third quarter,” Trump added during a press conference at the White House. “That would be a record and interestingly, it’ll be a number that’s going to be announced before November 3.”
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