Sens. Cruz and Scott press Treasury on capital gains “indexing.” Sens. Ted Cruz (R-TX) and Tim Scott (R-SC) are urging Treasury Secretary Scott Bessent to explore reducing capital gains taxes without new legislation. The idea would adjust an asset’s purchase price upward to reflect inflation before calculating taxable gains, potentially shrinking tax bills for investors and some homeowners who sell. Benefits would disproportionately benefit higher earners. The proposal’s legal footing has been questioned.
Federal retirees report delays getting 1099-Rs from OPM. Some federal annuitants say they are still waiting on 1099-R tax forms, weeks after the Office of Personnel Management (OPM) traditionally mailed them. OPM’s newer approach generally defaults retirees with an email tied to their online account to digital delivery unless they request paper, but retirees have reported trouble accessing accounts and difficulty reaching customer service. An OPM spokesperson suggested allowing about 10 days for mail delivery.
GAO spotlights the “trust gap” in whistleblowing. A new report from the Government Accountability Office (GAO) argues that workplace practices that build trust can encourage employees to report possible wrongdoing, while fear of retaliation can keep tips from reaching regulators. GAO says enforcement work by the FTC, SEC, and IRS that draws on information from the whistleblowing public has resulted in billions of dollars returned to the US Treasury since 2019. But the IRS also faced challenges when submissions from the public were not actionable.
Oregon moves up a transportation-tax referendum from November to May. Oregon lawmakers passed Senate Bill 1599 to shift a voter referendum on the state’s transportation funding law from the November 2026 general election to the May primary, and Gov. Tina Kotek (D-OR) signed it. Supporters argue the earlier date gives state and local governments more certainty as they plan budgets, while opponents say moving the vote to a lower-turnout election changes the terms of a citizen-driven referendum and could limit participation. The Oregon Department of Transportation faces a $242 million shortfall for the 2025–2027 budget cycle.
Subscribe to the Tax Policy Center’s Daily Deduction for weekday morning tax news and research. For more from TPC: Visit the Briefing Book (tax issue explainers), Fiscal Facts (quick primers), and TaxVox (researcher commentary). Track tariff developments and analysis with TPC’s Tariff Tracker. Email Renu Zaretsky with tips on research or tax news.
