Former North Dakota Senator Heidi Heitkamp has expressed skepticism about the Biden administration’s proposed 44% capital gains tax. The proposal aims to raise the long-term capital gains and qualified dividends rates to 37% for taxpayers with taxable income above $1 million. However, Heitkamp believes the proposal has no chance of passing. The Biden administration has been pushing for higher taxes on the ultra-rich, but the proposal has been met with mixed reactions.