Kamala Harris Proposes Capital Gains Tax Cut to Woo Independent Voters

Democratic presidential candidate Kamala Harris plans to propose a smaller increase in the top capital gains tax rate than the 39.6% proposed by President Joe Biden. Harris aims to win over independent and skeptical Republican voters. She also introduced a $50,000 tax deduction for new small businesses.

Democratic presidential candidate Kamala Harris plans to reveal a smaller increase in the top capital gains tax rate than President Joe Biden's proposed 39.6%, aiming to win independent and skeptical Republican voters. A senior aide shared this on Wednesday as Harris arrived in Portsmouth, New Hampshire, for a campaign event.

Harris intends to appeal to a broader voter base while sticking to Biden's middle-class strengthening plans. This includes a $50,000 tax deduction for new small businesses, a tenfold increase over existing relief. Small businesses are key employers, contributing to 70% of net new jobs since 2019.

Harris's economic policy package is focused on U.S. economic growth. Polls show Harris leading her Republican rival Donald Trump in New Hampshire, a historic Democratic stronghold. However, Trump's campaign maintains its presence and blames Bidenomics for rising energy prices and declining small business optimism.

(With inputs from agencies.)