UPDATE 1-Trump says not looking at payroll, capital gains tax cuts

U.S. President Donald Trump on Wednesday said he is not looking at cutting payroll taxes or linking capital gains taxes to the inflation rate, which could slash the taxes that investors pay on profits from asset sales.

On Tuesday, Trump had said he was seriously considering indexing capital gains to inflation and that the White House has been thinking about cutting the payroll taxes that fund the Medicare health insurance program for the elderly and Social Security. But on Wednesday he said the U.S. economy was strong and did not need the tax reductions.

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