Pres. Biden To Propose Capital Gains Tax Under American Families Plan

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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