July 30,2019

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Ashley Schapitl (202) 224-4515

Wyden Statement on Republican Request to Index Capital Gains Tax Rates to Inflation

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in reaction to a letter signed by 21 Republican senators urging the Trump administration to circumvent Congress and unilaterally index the capital gains rate to inflation:

“Nearly half the Senate Republican conference is urging Secretary Mnuchin to unilaterally toss longstanding Justice Department policy out the window to further cut taxes for the wealthiest Americans. It’s incredible that after shoveling hundreds of billions of dollars at the top 1 percent they are pushing to give them at least $100 billion more in handouts. The Office of Legal Counsel has plainly stated that the Treasury secretary does not have the authority to index capital gains tax rates. Donald Trump’s disregard for the law and precedent is contagious and I expect Secretary Mnuchin to ignore this lawless request.”