Harris to pare back Biden's capital-gains tax proposal, WSJ reports

Headline: The Gazette

She wants to expand from $5,000 to $50,000 tax incentives for small business startup expenses, with the goal of eventually spurring 25 million new small business applications over four years.
National Newswatch
The plan Harris is proposing would expand the current $5,000 startup-expense deduction for small businesses [costs for such things as market surveys, ads, and training costs for workers that small businesses shell out before they even open] to $50,000.
Fox News
Harris’s proposal for a lower tax rate than the one laid out by Biden suggests she wants to appeal to a broader base of voters.
Aljazeera
In his fiscal 2025 budget, Biden had proposed raising the tax rate on long-term capital gains - the profits made from selling or trading an asset held for more than a year - to 39.6 per cent from the current rate of 20 per cent at most for those earning over $1 million annually.
Deccan Herald

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