Yellen Floats Idea of Capital Gains Hike Dated to Two Months Ago
- Treasury chief pressed about proposed capital-gains reform
- Yellen testifying at Senate Finance Committee Wednesday
Janet Yellen
Photographer: Chris Kleponis/CNP/Bloomberg
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Treasury Secretary Janet Yellen suggested in remarks before a Senate panel that if Congress were to pass a capital-gains tax hike effective starting in April 2021, that wouldn’t count as a retroactive increase.
“I don’t see a prospective change in rules pertaining to the taxation of future realization of capital gains as being a retroactive feature,” Yellen told the Senate Finance Committee on Wednesday, when asked about the Biden administration’s tax proposals.