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Yellen Floats Idea of Capital Gains Hike Dated to Two Months Ago

June 16, 2021, 6:08 PM

Treasury Secretary Janet Yellen suggested in remarks before a Senate panel that if Congress were to pass a capital-gains tax hike effective starting in April 2021, that wouldn’t count as a retroactive increase.

“I don’t see a prospective change in rules pertaining to the taxation of future realization of capital gains as being a retroactive feature,” Yellen told the Senate Finance Committee on Wednesday, when asked about the Biden administration’s tax proposals.

President Joe Biden’s proposal to raise the capital-gains tax rate to 39.6% from 20% for those earning $1 million or more was first announced April 28, as ...

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