Easing capital gains tax... Blow the budget again..

White House: Trump asked Treasury to look into easing capital gains tax

By BRIAN FALER

President Donald Trump asked the Treasury Department to look into easing a capital gains tax, a White House spokeswoman said Wednesday.

Press secretary Sarah Huckabee Sanders spoke positively of the push by conservatives to have the Treasury Department use its regulatory power to begin adjusting the levy for inflation, which would largely benefit upper-income earners.

“This is something that has a lot of support from various people,” she told reporters.

“No administration policy has been determined but the president has asked the Treasury Department to look into it,” said Sanders.

Her comments are sure to hearten GOP activists who’ve been pushing for the change, which could translate to a tax cut worth more than $10 billion annually.

For years, Treasury has maintained it does not have the legal authority to alter the tax, though some see hope in the unconventional Trump administration.

Treasury Secretary Steven Mnuchin has said the agency is examining the issue, while stopping short of endorsing the idea or saying whether he believes the department has the power to make the change.