Senators Ask Treasury To Unilaterally Index Capital Gains, Bypassing Congress

Senators Ask Treasury To Unilaterally Index Capital Gains, Bypassing Congress Senators Ted Cruz and Tim Scott are asking Treasury Secretary Scott Bessent to unilaterally implement a major capital gains tax cut -- by letting taxpayers adjust their cost basis to account for the effects of inflation. In a letter they intended to send on Tuesday, the pair will argue that it's within Bessent's authority to make such a move, without the need for legislation, “Using your executive auth...

By Tyler Durden