Trump, advisers looking at ways to boost U.S. economy as markets…

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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. economy should it be deemed necessary, officials said.

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WASHINGTON (Reuters) – 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. economy should it be deemed necessary, officials said.

U.S. President Donald Trump answers questions from reporters as he meets with Romania’s President Klaus Iohannis in the Oval Office of the White House In Washington, U.S. August 20, 2019. REUTERS/Kevin Lamarque

Trade tensions with China have stoked concerns that the U.S. economy is heading for a downturn, which could dampen Trump’s prospects for re-election in 2020.

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.

“I’m not talking about doing anything at this moment, but indexing is something that a lot of people have liked for a long time. And it’s something that would be very easy to do,” he said. “It is something I am certainly thinking about.”

Reporting by Steve Holland; Writing by Lisa Lambert; Editing by Rosalba O’Brien and Lisa Shumaker


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Author:

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. economy should it be deemed necessary, officials said.

Source: {authorlink}

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