Stepped Up Basis Reform: Biden’s Middle-Class Tax Hike?

Wednesday, March 31, 2021

News & Press

President Joe Biden campaigned on a promise to not raise taxes on middle-class Americans. But a little-known provision in his proposed tax reforms could do just that.

One way the Biden tax plan may try to raise revenue to fund the administration’s $3 trillion infrastructure bill is by changing the way capital gains taxes are administered at death.