Policies & Impacts

Trump Pitches Capital Tax Cut to 15 Percent, Biden’s Rate Is More Than Double

Trump Pitches Capital Tax Cut to 15 Percent, Biden’s Rate Is More Than Double
(L) U.S. President Donald Trump listens to Vice President Mike Pence speak at the daily coronavirus briefing at the White House in Washington on April 19, 2020. (Tasos Katopodis/Getty Images) (R) Presumptive Democratic presidential nominee former Vice President Joe Biden delivers a speech at the William Hicks Anderson Community Center in Wilmington, Del. on July 28, 2020. Mark Makela/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

President Donald Trump said Thursday that he would like to see the capital gains tax slashed to 15 percent, while his rival in the race for the White House, presumptive Democrat nominee Joe Biden, has called for it to be lifted to a number that would be nearly triple Trump’s proposed tax rate.

Trump told Fox News‘s Maria Bartiromo in a phone interview on Thursday that, if re-elected for a second term, he would push to slash today’s long-term capital gains tax rate, which for income in excess of $441,451 from assets held longer than one year is now taxed at 20 percent.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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