Heidi Heitkamp was once a Democratic senator in a Republican state, and thus is forever labeled a paragon of sensible moderation and political divination. The one-termer from North Dakota who left office in 2019 has gone on to serve as an oft-appearing CNBC commentator and a fellow at the University of Chicago’s Institute of Politics teaching a seminar on bipartisanship. She was considered as a possible secretary of agriculture for Joe Biden before the position was given to Tom Vilsack.

After being passed over for a Biden administration job, Heitkamp is trying to undermine the president’s agenda. As congressional Democrats look to establish a more equitable tax system to pay for spending priorities and overhaul some of the legacy of the Trump tax cuts, she’s spearheading a new effort to fight against a proposed change: the elimination of step-up in basis, which currently wipes out capital gains tax obligations on inherited investments….

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