No. of Recommendations: 5
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.
washingtonpost.com - Trump tax cut capital gains 