Not long after expressing his support for the cryptocurrency industry, at the same time accusing his opponent in the United States presidential race, Joe Biden, of the perceived animosity towards the sector, former US President Donald Trump has announced major taxation cuts if elected.
Indeed, Trump was referring to President Biden’s latest budget proposal, which would introduce new and increased capital gains tax and which could impact crypto investors, stating he would, on the other hand, impose the “biggest tax cut” for all social classes, he said at a campaign rally on May 12.
“Instead of a Biden tax hike, I’ll give you a Trump middle class, lower class, business class, big tax cut. You’re gonna have the biggest tax cut. And we were set to do that, we were all set to do it.”
As it happens, in line with the standard Republican approach, the Trump campaign’s proposal plans to lower the maximum capital gains tax rate to 15%, which would follow his previous
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