Chairman Thompson Opposes Possible Capital Gains Tax Changes

Statement

Today, House Ways and Means Subcommittee on Select Revenue Measures Chairman Mike Thompson (CA-05) announced his opposition to the Administration's potential change that would index capital gains taxes to inflation.

"Our nation's founding documents themselves state that tax legislation must originate within the House Ways and Means Committee. With this potential change indexing capital gains taxes to inflation, not only is the Administration trying to go around Congressional authority, it's trying to give out the benefits to the richest one percent. All this comes after the President and Republican leaders added more than $2.3 trillion to our national debt with the 2017 tax law. This is bad policy that undermines the three, separate branches of government to help out those at the top and stick working families with the bill. I plan to strongly oppose any such changes."

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