Former Sen. Heidi Heitkamp, a moderate North Dakota Democrat who was defeated in 2018 and has become a frequent cable-news commentator, is now leading a dark money group’s effort to preserve a tax loophole that overwhelmingly benefits the wealthy. Just a few months earlier, Heitkamp had described the loophole as a “scam.”

Heitkamp, who was passed over for a job in President Biden’s Cabinet, now chairs a nonprofit called Save America’s Family Enterprises (SAFE), a dark money group that does not disclose its donors but has launched a six-figure ad campaign to lobby against a key provision in the Democrats’ $3.5 trillion budget proposal. The group aims to preserve the “stepped-up basis” loophole, which allows people to avoid capital gains taxes on inherited investments. Biden has called for closing the loophole to help pay for the spending plan, but Heitkamp has gone on a media blitz in the past week to…

Read full article at


Comments are closed.