Cruz Pushes Mnuchin for Quick Action on Capital Gains Tax Break
- Trump administration has been reviewing investor tax cut
- Cut would boost economic growth, Senate Republicans say
Ted Cruz
Photographer: Al Drago/BloombergThis article is for subscribers only.
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 to Mnuchin on Monday 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.