- Former Sen. Heidi Heitkamp, a Democrat from North Dakota, said the president's proposal to tax appreciated assets upon death would hurt family farms and family-owned businesses.
- Under President Joe Biden's proposal, individuals who inherit private businesses or property worth millions could face an immediate capital gains tax of more than 40%, even if they don't sell.
- Heitkamp argues families should owe a capital gains tax only when the asset is sold and the gain is realized.
