Indexing Capital Gains Taxes to Inflation Resources

Key Documents

  • Letter Calling for Capital Gains Indexing by Senator Ted Cruz to Secretary Mnuchin [link]. Signers to the letter: 

    • Kevin Cramer (R-N.D.), Jim Inhofe (R-Okla.), Marsha Blackburn (R-Tenn.), Thom Tillis (R-N.C.), Pat Toomey (R-Pa.), John Boozman (R-Ark.), James Lankford (R-Okla.), Steve Daines (R-Mont.), John Barrasso (R-Wyo.), John Kennedy (R-La.), Mike Braun (R-Ind.), Ron Johnson (R-Wis.), Cindy Hyde-Smith (R-Miss.), John Cornyn (R-Texas), Rand Paul (R-Ky.), Richard Burr (R-N.C.), Roy Blunt (R-Mo.), Roger Wicker (R-Miss.), Jim Risch (R-Idaho), Ben Sasse (R-Neb.)

  • Cutting the Capital Gains Tax Increases Revenue [link]

  • Legal Memo Summarizing the Legal Authority of Treasury to Index Capital Gains to Inflation [link]

  • 1993 Memo by Cooper, Carvin & Colatriano on The Legal Authority for Treasury to Index Capital Gains Taxes to Inflation [link]

  • 2012 Memo by Cooper & Colatriano on the Legal Authority for Treasury to Index Capital Gains Taxes to Inflation – A Sequel [link]

  • 1992 Treasury Office of Legal Counsel Memo on Indexing Cap Gains to Inflation Through Regulation [link]

  • Examples of inflation [link]

    • 07/31/19 ATR Blog Post: “Democrats are Wrong to Criticize Capital Gains Indexing” [link]

  • Norquist Letter to Schumer on Ending the Inflation Tax [link]

  • IRS Revenue Ruling/Revenue Guidance Authority [link]

 

Support for Indexing Capital Gains

  • Larry Kudlow, Director of the National Economic Council

    • 08/11/17 CNBC op-ed: “Index capital gains for inflation, Mr. President” [link]

    • Richard Rahn, senior fellow at the Cato Institute and chairman of the Institute for Global Economic Growth

      • 04/09/18 op-ed in the Washington Times: “Capital gains must be protected from inflation”  [link]

  • Mike Pence, Vice President, Former Congressman from Indiana
    • Legislation to index capital gains taxes to inflation. Cosponsored by 88 members of Congress, including Ways & Means Ranking Member Kevin Brady (R-TX) [link]

  • Phil Kerpen, President of American Commitment

    • 09/21/06 op-ed in National Review Online: “Repeal the “Inflation Tax” [link]

  • Chip Rogers, President & Hitash patel, Chair of Asian American Hotel Owners Association 

    • 04/05/18 op-ed in the Washington Examiner: “A quick way Trump can help small business” [link]

  • John Motta, Chairman of the Coalition of Franchisee Associations

    • 04/17/18 op-ed in Investor’s Business Daily: “President Trump Can Follow Reagan By Indexing Capital Gains To Inflation” [link]

  • David McIntosh’s, President of Club for Growth

    • 09/26/17 op-ed in The Hill: “Trump shouldn’t wait on Congress to index capital gains” [link]

  • Ryan Ellis, President, Center for A Free Economy

    • 12/03/18 Op-Ed in the Washington Examiner: “The Trump Stock Market Needs a Long-Term Boost” [link]

  • Dan Mitchell, Co-Founder, Chairman of Center for Freedom and Prosperity

    • 03/15/18 Blog: “The Capital Gains Tax Should Not Be Imposed on Inflationary Gains” [link]

  • Stephen J. Entin, Tax Foundation

    • 03/06/18 Study: Getting “Real” with Capital Gains Taxes by Adjusting for Inflation [link]

  • Congressmen Mike Pence (R-IN), Eric Cantor (R-VA), Jeb Hensarling (R-TX), John Campbell (R-CA), Scott Garrett (R-NJ), Jim Jordan (R-OH)

    • 01/23/08 Letter to President Bush and Treasury Secretary Paulson from members of Congress urging support of the Capital Gains Relief Act of 2007 [link]

  • Juanita D. Duggan, President and CEO of NFIB

    • 07/31/18 Letter urging Treasury to index capital gains to inflation [link]

  • Small Business & Entrepreneurship Council

    • 07/19/19 Letter to Secretary Mnuchin Supporting Indexing Capital Gains Tax to Inflation [link]

  • Conservative Action Project

    • 07/18/19 Memo of more than 70 Conservative Activists/Organizations in support of indexing, including former Senator Jim DeMint and former Attorney General Ed Meese [link]

  • 51 Conservative Groups

    • 01/22/19 Coalition Letter of over 50 Conservative Groups, including ATR, the American Conservative Union, Citizens Against Government Waste, FreedomWorks, and National Taxpayers Urging President Trump to Index Capital Gains Taxes to Inflation [link]

  • American Farm Buerau Federation

    • Issue Overview on Indexing Capital Gains Taxes to Inflation [link]

  • Grover Norquist, President of Americans for Tax Reform

    • 01/23/19 letter urging Mnuchin to index capital gains taxes to inflation [link]


  • James Carter, Former Deputy Assistant Treasury Secretary & Peter Roff, Senior Fellow at Frontiers of Freedom

    • 09/02/18 op-ed in The New York Post: “The tax law Chuck Schumer hates – but used to praise [link]

  • Adam Brandon, President of FreedomWorks

    • 08/03/18 Investor’s Business Daily op-ed: “The Trump Administration Should Index Capital Gains To Inflation” [link]

  • Daniel Mitchell, Co-Founder, Chairman of Center for Freedom and Prosperity

    • 07/01/19 People’s Pundit Daily: “The Case For Capital Gains Indexing” [link]

  • Kimberley Strassel, Member of the Editorial Board for The Wall Street Journal

    • 07/12/18 op-ed: “Trump Alone Can Cut Taxes” [link]

  • Neil Bradley, executive vice president and chief policy officer at the U.S. Chamber of Commerce

    • 07/18/19 Letter to Treasury Secretary Steve Mnuchin [link]

  • Asian American Hotel Owners Association

    • 07/31/19 Statement on Sen. Cruz’s Letter on Capital Gains & Inflation [link

 

Media

  • 06/29/18 Wall Street Journal: “Mnuchin Vows to Explore Indexing If Congress Declines to Index Capital Gains” [link]

  • 08/30/18 Bloomberg News: “Trump Says He’s Thinking About Indexing Capital Gains to Inflation” [link]

  • 01/28/19 The Daily Signal: “White House Eyes Reducing Capital Gains Taxes Without Congress” [link]

  • 06/27/19 Bloomberg News: “White House Considers Capital Gains Tax Break” [link]

  • 06/28/19 Arkansas Democrat Gazette: “Capital Gains Tax-Cut Reported” [link]

  • 06/28/19 CNBC: “Trump Considers Bypassing Congress to Cut Capital Gains Tax” [link]

  • 06/28/19 Barron’s: “White House Mulls Capital Gains Tax Break” [link]

  • 06/29/19 Providence Journal: “Trump Seeks to Index Capital-Gaines Tax to Inflation” [link]

  • 06/30/19 The Washington Times: “Trump Considering Cut to Capital Gains Taxes to Bolster Economy” [link]

 

Democrat Support for Indexing

  • Video of Senator Chuck Schumer voicing support for ending the capital gains tax on inflation on the House floor in 1992 [link]

  • Letter to Congress quoting Democrats who supported ending the capital gains tax on inflation in 1992 [link]

  • Democrat comments supporting ending the inflation tax on the House floor in 1992 [link]