Trump Rules Out Unilateral Move on Cutting Capital Gains Tax (1)

Sept. 11, 2019, 11:34 PMUpdated: Sept. 12, 2019, 1:22 AM

President Donald Trump has decided against making an end-run around Congress to cut the tax on capital gains by indexing gains to inflation, the White House said on Wednesday evening.

The decision was announced after a meeting earlier in the day between Trump and his economic advisers, where they discussed whether to move ahead with the tax break.

“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. ...

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