White House National Economic Council Director Brian Deese confirmed Monday that President Biden will propose an increase in the capital gains tax rate to pay, in part, for his upcoming American Families Plan, which will call for boosting spending on child care, prekindergarten, paid family leave and tuition-free community college, among other domestic priorities.
https://www.washingtonpost.com/politics/2021/04/26/joe-biden-live-updates/
Yep, and killing all American's 401K investments.