Harris Goes Quiet on Biden’s Push to Tax Unrealized Gains
- Candidate distances herself from White House on investor taxes
- Democratic nominee crafts message to appeal to moderates
This article is for subscribers only.
Vice President Kamala Harris has gone silent on Democrats’ bid to tax unrealized investment gains — casting doubt on how strongly she’d push for a key plank of the party’s efforts to raise taxes on billionaires.
Harris, who has already pledged to scale back one of President Joe Biden’s key policies on capital gains taxation, is declining to give specifics about her support for other pillars of the administration’s vision to raise taxes on businesses and the wealthy. That includes a White House plan to tax unrealized gains, a major proposed Internal Revenue Code change designed to increase levies on the richest Americans who are often able to avoid taxes under the current rules.