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Incoming Finance Chair Wyden to Move on Capital Gains Changes

Jan. 13, 2021, 8:03 PM

Incoming Senate Finance Committee Chairman Ron Wyden (D-Ore.) said he plans to move forward with his “mark-to-market” plan to raise capital gains taxes on wealthy Americans, despite Democrats’ narrow Senate majority.

Wyden’s plan, which he unveiled last year, would see capital gains taxed at the same rates as regular income and enact an annual tax on gains from stocks and other tradable assets. Wyden told reporters on a Wednesday press call that he would tie the plan to funding Social Security.

  • Wyden said he will also pursue raising the current 21% corporate tax rate, but pushed back ...