Vice President Kamala Harris recently outlined her economic plan, emphasizing support for small businesses and proposing tax changes targeting the wealthy. In a preview clip from an upcoming '60 Minutes' interview, Harris stressed the importance of investing in small businesses as a means to bolster the middle class and strengthen the economy, highlighting their crucial role in the nation's economic framework.
When questioned about funding for her economic agenda, Harris indicated a plan to increase taxes for large corporations and affluent individuals. She specifically mentioned a proposal to raise the long-term capital gains tax rate to 28% for those earning $1 million or more, up from the current 20%.
However, the implementation of Harris' proposals would necessitate congressional approval, presenting a significant challenge given the current political divide on Capitol Hill. Harris' vision for an 'Opportunity Economy' encompasses various measures, including a federal ban on price gouging, expansion of the child tax credit, housing assistance, affordable healthcare initiatives, and tax reductions on tips.
