Mnuchin, Kudlow Say Congressional Vote Needed for Capital Gains Cut

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The White House isn’t considering an executive order to carry out President Donald Trump’s call for a cut in the capital gains tax because Congress probably would have to change the rate, administration officials said.

“Structural changes to tax rates,” said Larry Kudlow, Trump’s top economic adviser, “likely require congressional legislation.”

Asked by reporters at the White House if the administration is considering cutting the tax unilaterally, Kudlow responded, “That is not the case.”

Trump said Monday he was “very seriously” considering a capital-gains tax cut, without specifying how it would be carried out.

Read more at NEWSMAX.



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