A top priority for us at UP is the indexing of capital gains tax for inflation and we hope Congress puts this growth stimulus in the next reconciliation bill. At the very least, they should do this for residential housing, which will increase the number of houses for sale.

Opponents, as always, moan it will cost the government too much in lost revenue and increase the deficit. Maybe. But this chart from Laffer Associates shows over the past sixty years, lower capital gains tax rates have generated more federal revenues. Why would this time be different?