Ted Cruz, Tim Scott asking Treasury to approve $200B tax cut without congressional approval

Taxes,US Congress,Ted Cruz,Tim Scott,US Treasury,Tax Cuts,Economy And Jobs

Posted on AllSides March 4, 2026

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GOP Sens. Ted Cruz (Texas) and Tim Scott (S.C.) are asking the Treasury Department to approve a $200 billion tax cut without prior authorization from Congress.

The two senators have asked the Trump administration to cut capital gains taxes on investors by adjusting the basis for inflation arguing it would boost savings, spur investment and create jobs nationwide...

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