WASHINGTON-- The Trump administration is studying the idea of implementing a big tax break for wealthy Americans by reducing the taxes levied on capital gains, but no decision has been made yet on whether to proceed. The change would involve taxing capital gains -- profits on investments such as stocks or real estate -- after taking into account inflation, which would lower the tax bite. That amount, taxed at the top capital gains rate of 23.8 percent, would result in a tax bill of $47,600. Indexing capital gains for inflation would reduce federal revenue by about $102 billion over a decade, according to the Penn-Wharton Budget Model. Democrats, however, vowed to oppose the change to how capital gains are taxed.

Source: Fox News July 31, 2018 16:41 UTC