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Trump, advisers looking at ways to boost US economy as markets fear recession

Trump, advisers looking at ways to boost US economy as markets fear recession

21.8.2019

Trump, advisers looking at ways to boost US economy as markets fear recession

WASHINGTON: Even as they reject talk of a looming recession, President Donald Trump and his advisers are examining ways to provide a boost to the U.S.

The option emerged from a meeting Trump had with his economic team on Monday. It was not viewed seriously, given it would be hard to get through the U.S. Congress, an administration official said.

Such a step would likely be seen by Democrats as an attempt to circumvent the authority of the U.S. Congress and prompt a court fight.

Republican Senator Rick Scott of Florida has offered legislation on this point.

Trump said he would not need the approval of Congress to link the tax on profits from asset sales, known as capital gains, to inflation. According to tax code experts, investors would pay far less capital gains tax under an inflation index.

Read more: CNA

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