Harris's unrealized capital gains tax is unlikely to pass: CIO

Published On Aug 31, 2024, 12:57 PM

The article discusses a recent statement from a Chief Investment Officer (CIO) regarding proposed legislation by Kamala Harris for a tax on unrealized capital gains. The CIO believes that the proposal is unlikely to gain traction or pass in Congress, primarily due to strong opposition from Republican lawmakers and some Democrats. This outlook stems from concerns about the potential negative impact on investment behaviors and the overall economy if such a tax were implemented.

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The failure of the unrealized capital gains tax could be seen as a positive development for high-net-worth individuals and capital markets, as it would leave current investment strategies untouched and potentially lead to increased investment activity.

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