White House says capital gains tax would hit 0.3% of taxpayers

WASHINGTON (Reuters) – President Joe Biden’s forthcoming capital gains tax hike proposal would affect only a 0.3% sliver of U.S. taxpayers, a top economic aide said on Monday.

Brian Deese, who runs Biden’s policy-writing National Economic Council, said the soon-to-be-announced tax hike proposal would only apply to people who make more than $1 million, or about 500,000 households.

(Reporting by Andrea Shalal and Trevor Hunnicutt; Editing by Chris Reese)