Subject: Push to Index Capital Gains
Fresh off passage of the “One Big Beautiful Bill,” several conservative organizations and Republican lawmakers are preparing to ask President Donald Trump for another major tax cut — this time, potentially without congressional approval.

Currently, an investor who bought stock for $1,000 in 1980 and sold it for $10,000 today would owe capital gains taxes on the increase in value of $9,000. But under the proposal pitched by Norquist and others, the calculation would start by adjusting up the value of the original purchase to account for inflation — which would reduce the amount of gain that’s taxable after selling the stock.

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