Senator Mike Crapo

@MikeCrapo ↗

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Last Checked Nov. 15, 2021

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Wed Aug 25 21:10:04 +0000 2021

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Senator Mike Crapo @MikeCrapo

Democrats want to create a double death tax by eliminating the benefit of this step-up in tax basis, including for small businesses, farms and ranches passed down from one generation to the next at death. My friend @SenJohnThune explains it well: https://t.co/wV0cooJKhV — PolitiTweet.org

Posted Aug. 25, 2021

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Senator Mike Crapo @MikeCrapo

Today, family businesses passed down at death are subject only to estate tax and not an additional income tax. Instead, a business’s tax basis is increased or “stepped up” to fair market value, sparing the next generation a large capital gains tax bill. — PolitiTweet.org

Posted Aug. 25, 2021

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Senator Mike Crapo @MikeCrapo

Worse, the Democrats’ plan would tax these businesses on simple inflation, sticking them with the bill for reckless inflationary tax-and-spend policies enacted by politicians in Washington. https://t.co/uY8jWbyBID — PolitiTweet.org

Posted Aug. 25, 2021