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Kamala Harris Proposes for 28% Long-term Capital Gains Tax, Significantly Lower than Biden's Proposal
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US Vice President Kamala Harris on Wednesday proposed to impose a 28% tax on long-term capital gains for households earning US$1 million or more a year, lower than the 39.6% rate proposed by President Joe Biden in his FY2025 budget. In addition, Harris also announced a new proposal to provide a US$50,000 tax break for small businesses start-up costs, 10 times the amount of the current level. AAStocks Financial News |
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