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Biden Plans To Raise Capital Gains Tax On Wealthy Americans

President Biden is planning to almost double the capital gains tax rate for wealthy Americans. Under his proposal, the tax on investment income would rise to 39.6% for people earning $1 million or more.

Here & Now‘s Peter O’Dowd speaks with Mike Regan, senior editor for Bloomberg News, about Biden’s tax proposal.

This article was originally published on WBUR.org.

Copyright 2021 NPR. To see more, visit https://www.npr.org.