Kamala Harris to Propose Less Drastic Increase in Biden's Capital-Gains Tax

Sep 4, 2024, 05:40 PM

Democratic presidential nominee Kamala Harris is planning to propose a less drastic increase in the top capital-gains tax rate, breaking with a plan President Biden outlined earlier this year. According to the Wall Street Journal, Harris's advisors are recommending that she walk back from the unrealized capital gains tax proposal. This move comes amid widespread backlash and aims to encourage investment in entrepreneurship and access to capital for small businesses. Harris is also set to unveil new economic proposals focusing on lowering taxes, cutting regulations, and increasing financing for small businesses. The changes are expected to be announced in September.