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AICC partner the Small Business Legislative Council (SBLC) has provided the linked position paper. This document will assist its efforts on Capitol Hill to convince Senators that President Biden’s proposed changes on Capital Gains and Step Up Basis at the time of a business owner’s death would be catastrophic to the small business community. SBLC’s goals are to keep the existing step-up in basis for assets going through an estate and to keep the estate tax exemption as high as possible.