Capital gain tax rates could nearly double under a Biden proposal. How would that your investments?

The past year has brought all sorts of federal tax adjustments and changes: stimulus payments, untaxed unemployment compensation, more lenient treatment of retirement withdrawals, an extended return-filing deadline and more.

The next big move on the individual side could be higher capital gain taxes.

President Joe Biden has proposed a near-doubling of the maximum federal rate on capital gains or investments held more than one year to 43.4% to help fund $1.8 trillion in new spending initiatives that include child care, pre-kindergarten education, tuition-free community college and paid family leave.

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