Pres. Biden To Propose Capital Gains Tax Under American Families Plan
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Social Studies
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The American Families Plan, discussed in a recent address to Congress, aims to address child care, education, and climate change, with a projected cost of over $1.5 trillion. To fund this, the administration plans to increase the capital gains tax, affecting only 0.3% of taxpayers, or about 500,000 households. The majority of households will not see changes in their tax treatment. Additionally, the president has pledged that Americans earning under $400,000 will not experience an increase in income taxes.
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OPEN ENDED QUESTION
3 mins • 1 pt
How many households will be affected by the capital gains tax increase?
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2.
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3 mins • 1 pt
What pledge has the president made regarding income taxes for Americans making under $400,000?
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