Seniors to Lawmakers: Support Thune Amendment to Preserve Step-Up in Basis

Key Vote Alert

Alexandria, VA (August 10, 2021) – On behalf of more than five million senior supporters of the 60 Plus Association, the American Association of Senior Citizens, we urge every Senator to vote “YES” on Sen. John Thune’s (R-SD) Amdt. #3106 to S. Con Res. 14, the Fiscal Year 2022 Budget Resolution.

60 Plus President Saul Anuzis said, “This amendment would preserve step-up in basis, preventing Democrats from creating a Second Death Tax. The issue of step up in basis affects family businesses in every state across the country and will force mostly family-owned businesses to downsize as well as having to liquidate their assets which will ultimately lead to fewer jobs and lower wages.”

60 Plus Chairman Jim Martin added, Preserving step-up in basis would save American jobs and ensure that small businesses, farms, and ranches across the country can stay in their families for generations to come. This amendment protects the current step up in basis provision, STOPPING the Biden administration’s proposed Double Death Tax.”

Anuzis concluded, “We thank Sen. Thune for his leadership on this important issue. Again, we urge you to vote “YES” on the Thune amendment. This vote will be recorded in our legislative scorecard.