Nunes’s Proposed Legislation Would Consider Inflation in Determining Capital Gains Tax

Devin Nunes, a Republican member of the House Ways and Means Committee, has introduced legislation to index capital gains for inflation. Under Nunes’s legislation, the tax basis of a capital asset for purposes of calculating capital gains would be adjusted for inflation. Republican Senator Ted Cruz has introduced similar legislation in the Senate, and Congressional Republicans are contemplating whether to include the provision in the “phase 2” tax reform legislation.

Read more: GOP Tax Writer Introduces Bill to Reduce Capital Gains Taxes

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