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President Biden's proposal for a new death tax to help pay for his $3.5 trillion social welfare expansion is hitting resistance from members of Congress, including a top farm state Democrat who warns that the tax will hurt family farms.
Former Office of Management and Budget Director and former White House chief of staff Mick Mulvaney discusses stimulus, unemployment and taxes. Republicans are not convinced that President Biden’s plans to shield farmers and small business owners from changes to death taxes are practical –potentially putting millions of family-owned businesses at risk. A White House official told FOX Business that Biden the American Families Plan will include protections for family-owned businesses and farms so that they do not get hit by the president’s desire to eliminate stepped-up basis. But Cal...