Biden Capital Gains Hike Would Hit Couples Earning $1 Million
- Biden set to unveil proposed individual tax plan on Wednesday
- White House eyeing almost doubling capital gains rate for some
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President Joe Biden’s coming proposal to ramp up the capital gains tax would hit both individuals earning $1 million and married couples filing jointly earning the same amount, according to a White House official.
The official’s clarification came after Biden’s top economic adviser, Brian Deese, said Monday that one element of Biden’s plan would be a change in capital gains taxes.