THREAD: The Trump administration's stances on a temporary payroll tax cut and indexing capital gains have been in the news lately.
But where does the administration currently stand on those ideas? And will they come to fruition?
We'll take you through the last few days 1/10
But where does the administration currently stand on those ideas? And will they come to fruition?
We'll take you through the last few days 1/10
.@washingtonpost reported on Monday that the White House was discussing a temporary payroll tax cut to help stave off a potential economic slowdown.
The White House later denied it is considering such a move. 2/10 wapo.st/2zgRV2c
The White House later denied it is considering such a move. 2/10 wapo.st/2zgRV2c
@washingtonpost A White House official told @jtcurry005 on Monday:
"As Larry Kudlow said yesterday, more tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time." 3/10 bit.ly/2Z5V0kE
"As Larry Kudlow said yesterday, more tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time." 3/10 bit.ly/2Z5V0kE
@washingtonpost @jtcurry005 President Trump on Tuesday acknowledged the White House has considered payroll tax cuts.
“We’re looking at various tax reductions, but I’m looking at that all the time anyway,” he told reporters. 4/10 bit.ly/30nCJMz
“We’re looking at various tax reductions, but I’m looking at that all the time anyway,” he told reporters. 4/10 bit.ly/30nCJMz
@washingtonpost @jtcurry005 Trump on Tuesday also showed renewed interest in indexing capital gains to inflation.
“I can say that a majority of people in the White House, at the level that does this kind of thing, they like indexing. So it is something I’m thinking about." 5/10 bit.ly/30nCJMz
“I can say that a majority of people in the White House, at the level that does this kind of thing, they like indexing. So it is something I’m thinking about." 5/10 bit.ly/30nCJMz
@washingtonpost @jtcurry005 President Trump has floated the idea of indexing capital gains to inflation via executive action numerous times.
His administration is not the first to consider it.
The George H.W. Bush administration toyed with the idea, too, but rejected it. 6/10 bit.ly/2XCh3Oq
His administration is not the first to consider it.
The George H.W. Bush administration toyed with the idea, too, but rejected it. 6/10 bit.ly/2XCh3Oq
@washingtonpost @jtcurry005 Yesterday, President Trump backtracked on the idea.
He told reporters that he's no longer interested in indexing capital gains to inflation. 7/10 bit.ly/33Vmqc7
He told reporters that he's no longer interested in indexing capital gains to inflation. 7/10 bit.ly/33Vmqc7
@washingtonpost @jtcurry005 But former government lawyers who worked on similar proposals to index capital gains have sounded the alarm.
They said the deeper they dug into the process, the more daunting it became. 8/10 bit.ly/30lyZLy
They said the deeper they dug into the process, the more daunting it became. 8/10 bit.ly/30lyZLy
@washingtonpost @jtcurry005 Today, our very own @willisweighsin argued the potential Trump administration proposal to cut payroll taxes to boost the economy would backfire. 9/10 bit.ly/2TUpccM
@washingtonpost @jtcurry005 @willisweighsin At this moment in time, the White House has said it will not pursue a payroll tax cut or indexing of capital gains.
That could change.
To stay up-to-date with the latest news, follow our reporters here: twitter.com/TaxNotes/lists… 10/10
That could change.
To stay up-to-date with the latest news, follow our reporters here: twitter.com/TaxNotes/lists… 10/10
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