The New York Post: Trump administration weighs $100-billion tax break for capital gains

The Trump administration is studying a plan to cut capital gains taxes by $100 billion over 10 years by factoring in inflation, it was reported Monday.

Treasure Secretary Steven Mnuchin said in an interview on the sidelines of the Group of 20 summit meeting in Argentina earlier this month that his department was studying whether it could issue regulations on its own — without going to Congress — to allow Americans to account for inflation in determining capital gains tax liabilities, the New York Times reported.

Treasury could redefine “cost” for calculating capital gains, allowing taxpayers to adjust the initial value of an asset, such as a home or a share of stock, for inflation when they sell them.

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