Want this in your inbox every morning? Trump considers a huge tax cut for the richThe president is working out how to bypass Congress in order to give the rich a $100 billion tax break. By taking inflation into account in calculating capital gains tax liabilities. Steven Mnuchin, the Treasury Secretary, said that his department was investigating whether it could do that without congressional approval. Advocates say it would unleash a wave of asset sales, boosting the economy.

Source: New York Times July 31, 2018 10:39 UTC