Bloomberg Tax
July 29, 2019, 7:07 PM

Cruz Pushes Mnuchin for Quick Action on Capital Gains Tax Break

Laura Davison
Laura Davison
Bloomberg News

Senator Ted Cruz is pressuring Treasury Secretary Steven Mnuchin to quickly deliver a tax cut to investors by indexing capital gains to inflation, a move that he said would encourage savings, investment and innovation.

Cruz, along with 20 other Senate Republicans, are sending a letter to Mnuchin on July 29 urging him to index the tax on gains made from real estate, stocks or bonds so investors would pay less when selling an asset than they would under existing law.

Current “treatment punishes taxpayers for the mere existence of inflation and is inherently unfair,” the letter said. “Other tax provisions ...

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