The News
US Vice President Kamala Harris proposed a smaller increase to capital gains tax than her boss Joe Biden, marking a departure from one of his key policies.
Biden’s 2025 budget planned to raise the top tax from 24% to 40%, but Harris said in a speech that she believes this is too high, proposing a raise to 28%. She also posited increasing corporate tax rates from 21% to 28%.
The Democratic presidential nominee is continuing to establish herself as a moderate, CNN reported, with tax cuts for small businesses alongside expansions of child tax credit. She has also played up patriotism, law and order, and support for the military, attempting to boost her centrist credentials. It’s worked on at least one Republican: Liz Cheney, daughter of former Vice President Dick Cheney, endorsed Harris.