Kamala Harris proposes 28% crypto tax on wealthy crypto holders

During a recent campaign stop in Georgia, Vice President Kamala Harris proposed raising the tax rate on cryptocurrency investments to 28% for the wealthy. This move is part of her broader economic policy, which aims to support the middle class and small businesses.

Campaign and Economic Focus

Harris’s proposal aligns with President Biden’s budget, which also includes higher taxes on affluent cryptocurrency holders. Harris's platform focuses on rebuilding the middle class, supporting small businesses, and addressing student loan debt. Her approach to economic policy is designed to offer fairness and boost economic opportunities.

Recent Campaign Developments

In Atlanta, Harris drew a larger crowd than President Biden has this year, highlighting her campaign’s strength in the South. Her speech featured a notable appearance with Megan Thee Stallion, reflecting a high-profile campaign effort. Despite this, Harris remains cautious about her campaign’s standing and acknowledges that it is currently considered the underdog.

Strategic Relationships and Future Plans

Harris has engaged in discussions with key figures like Canadian Prime Minister Justin Trudeau and business leaders such as JPMorgan Chase’s Jamie Dimon and World Bank President Ajay Banga. These relationships are part of her strategy to support her economic policies.

In mid-August, Harris is expected to detail parts of her economic agenda, focusing on her accomplishments and guiding principles. Her platform continues to prioritise support for working families and small businesses, along with her commitment to addressing economic inequality.