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International Business Times
International Business Times
National
Vidhya Ck

Harris Proposes Smaller 28% Capital Gains Tax, $50K Tax Deduction For Small Businesses

Harris suggesting smaller hike in tax increase for capital gains is different from the Republican view against tax increases on capital. (Credit: AFP)

Positioning herself as a champion of the middle class, Vice President and Democratic presidential nominee Kamala Harris has suggested a smaller increase in capital gains tax of 28% on households with an annual income of $1 million or more.

She also proposed a $50,000 tax deduction for small businesses toward startup expenses, which is 10 times more than the current tax break.

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