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Forbes: President Biden's Capital Gains Tax Plan

Taylor Tepper | May 05 , 2021

President Joe Biden announced in a speech before a joint session of Congress that he wanted to raise taxes on the richest Americans—by a lot. 

“The doubling of taxes would hurt the returns on private investment into venture capital and private equity funds,” said Mace McCain, chief investment officer at Frost Investment Advisors. “These funding sources have been a primary source of funding for new drug discoveries and technology innovation.”

Excerpted from Forbes on May 5, 2021.  To read full article, click here.

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