• 2 months ago
Vice President Kamala Harris has proposed a 28% tax on long-term capital gains for households earning $1 million or more. This is a reduction from the nearly 39% rate proposed by President Joe Biden in his fiscal year 2025 budget. Long-term capital gains, assets held for over a year, are currently taxed at a maximum rate of 20%. Harris emphasized her plan aims to reward investment in innovators and small businesses. Her proposal marks a rare departure from Biden's platform.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Vice President Kamala Harris has proposed a 28% tax on long-term capital gains for households
00:08earning $1 million or more.
00:10This is a reduction from the nearly 39% rate proposed by President Joe Biden in his fiscal
00:15year 2025 budget.
00:17Long-term capital gains assets held for over a year are currently taxed at a maximum rate
00:21of 20%.
00:23Harris emphasized her plan aims to reward investment in innovators and small businesses.
00:28Her proposal marks a rare departure from Biden's platform.
00:31For all things money, visit Benzinga.com.

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