US Treasury Sec. Mnuchin: Trump would like to do capital gain tax cut

Eren Sengezer FXStreet

US President Donald Trump would like to do a capital gains tax cut, US Treasury Secretary Steven Mnuchin told Fox Business on Wednesday and added that Trump wants to move forward with a fair proposal on the coronavirus bill.

"There will be a level of certainty for employers to implement payroll tax holiday," Mnuchin further noted during his interview. "I cannot speculate on whether there will be a compromise on COVID-19 aid bills."

Market reaction

These comments seem to be providing a boost to market sentiment. As of writing, S&P 500 futures were up 0.75% on the day and the US Dollar Index was down 0.2% at 93.46.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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