The Wall Street Journal

Capital Gains and Capital Pains in the House Tax Proposal

It hasn’t been noticed much, but proposed changes to capital-gains taxes have good news for some of the highest-earning Americans and bad news for those earning between $400,000 and $1 million. The good news, for the highest earners: The House Ways and Means Committee didn’t adopt the Biden administration’s proposal to raise the top rate on long-term capital gains to 43.4% for people with income of $1 million or more.

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