WASHINGTON, DC - Today, Ways and Means Committee Chairman Richard E. Neal (D-MA) issued the following statement regarding the possibility of the Trump Administration indexing capital gains taxes to inflation:
“After spending more than $2 trillion on tax cuts for the wealthiest Americans and big corporations, President Trump and congressional Republicans now want to give even more benefits to people at the very top. If the Trump Administration unilaterally changes the capital gains tax structure, it wouldn’t just be bad policy, it would be executive overreach. Tax legislation must originate in the House Ways and Means Committee - the President should not circumvent Congress to alter the tax code. I strongly oppose the consideration of this action that would undermine our government’s system of checks and balances, further balloon the national debt, and only help the most well-off and well-connected in our country."
