Dems Again Warn Treasury Against Indexing Capital Gains

By Dylan Moroses (August 7, 2019, 4:10 PM EDT) -- Senior Senate Democrats urged the Treasury Department again Wednesday to abandon any plans that officials may have to unilaterally index capital gains to inflation rates for tax purposes.

Senate Minority Leader Chuck Schumer and other Democrats told Treasury again that indexing capital gains to inflation "would almost exclusively benefit" the rich. (AP) In the second such letter in two months to Treasury Secretary Steven Mnuchin, Democrats led by Senate Minority Leader Chuck Schumer, D-N.Y., said indexing capital gains to inflation rates would produce another massive benefit to the most wealthy earners. Such earners recently received a boost from the 2017 Tax...

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