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September 6, 2024

Harris Calls for 28% Capital Gains Tax Rate, Proposes Tax Benefits for Small Businesses
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Kamala Harris is calling for a 28% capital gains tax rate for Americans
who earn over $1 million a year. While it's an increase on the current
capital gains tax of 20%, Harris's proposal is more than 10% less than
the nearly 40% capital gains tax rate President Biden has proposed. The
Democratic nominee unveiled her plans while on a campaign stop in New
Hampshire. Harris also announced plans for a $50,000 tax benefit for new
small businesses, a tenfold increase on the current deduction of $5,000
for startup expenses.


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