Tim Scott was doodling in my notebook.
The Republican U.S. senator and I were having dinner before he and a few staffers were to make the three-hour drive to Charleston, so he could sleep in his own bed that night.
But first, I’d asked him to explain how his idea to defer capital gains taxes would help struggling communities like the one we’d just visited in this city of roughly 40,000 people.
He scribbled some numbers and words, while talking about the bill that he and Sen. Cory Booker, D-N.J., introduced in April. If passed into law, it would let anyone defer the capital gains tax on the sale of any asset — a business, a piece of land or property — if they reinvest the money in an economically distressed area.
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By: Jon Ward, Yahoo News
Read the full article here.
