Joe Biden wants to make death even harder on your next of kin. That’s the conclusion of a new study by Regional Economic Models, Inc., commissioned by the Committee to Unleash Prosperity.
The study, viewable by clicking below, found:
Biden supports the so-called Sensible Taxation and Equity Promotion (STEP) Act, which would trigger taxation when someone dies.
The STEP Act would also increase taxes on trusts commonly used by small and family-owned businesses, as well as farms and ranches.
The STEP Act would cause job losses of 500,000 to almost 1,000,000 each year.
The STEP Act would cause a 10-year loss in personal income of about $1 trillion, which translates to $8,000-10,000 per household.