Kudlow, who led the council during Trump’s first term and remains an ally, said he had recently spoken with Trump about indexing capital gains, meaning taxes would be applied on gains adjusted for inflation. He also suggested exemptions for sales of homes worth $2 million or less from capital gains taxes, adding that “the boss is very interested” in those ideas. Most tax changes require congressional legislation, making it unlikely any of Trump’s ideas could become law before the November midterms. Prior administrations, including Trump during his first term, have looked at indexing capital gains to inflation unilaterally without Congress, but legal experts say that would likely face court challenges. Republicans in Congress have floated indexing the capital gains tax, though the issue lacks universal support within the party.