Kamala Harris is calling for a 28% capital gains tax rate for Americans who earn over $1 million a year. While it’s an increase on the current capital gains tax of 20%, Harris’s proposal is more than 10% less than the nearly 40% capital gains tax rate President Biden has proposed. The Democratic nominee unveiled her plans while on a campaign stop in New Hampshire. Harris also announced plans for a $50,000 tax benefit for new small businesses, a tenfold increase on the current deduction of $5,000 for startup expenses.