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Congressional candidate Dr. Michael Goldstein today challenged Congressman Jim Himes over his suggestion at last night’s Westport Library debate that Congress eliminate a tax benefit for inherited assets, calling for clear answers about how such a change could affect families of modest means.
During the debate, Himes described stocks inherited from his late mother. According to the debate transcript, he said:
“My mother passed away a couple of months ago. We were not wealthy, but she had a few stocks that she’d had in the portfolio for, I don’t know, 20 years. They had huge capital gains. When she died, I got them with no capital gains.”
Himes then suggested that “there’s stuff like that that we could eliminate” to raise taxes on wealthy Americans.
Quiver Quantitative reportedly estimated Himes’s net worth at $13.7 million as of July 16, 2026, ranking him 96th among members of Congress in its estimates.
“For someone with Jim Himes’s financial resources, that may sound like an easy answer,” Goldstein said. “Tell that to a lower-middle-class family in Bridgeport whose parents spent decades paying off a modest home. That house may be the largest asset the family owns—and the only meaningful inheritance their children will ever receive.”
Himes’s remarks pointed toward eliminating the stepped-up basis benefit, which generally resets the tax basis of inherited property to its value at death. He did not specify exemptions, income thresholds, or whether a resulting tax would apply at inheritance or upon a later sale.
“A home can appreciate over 30 or 40 years while the people living in it remain working class,” Goldstein said. “Their children may inherit a valuable house without inheriting a large bank account. Eliminating this protection without adequate safeguards could expose them to taxes on decades of appreciation when they sell.”
Goldstein emphasized that inherited assets can include a family home or a modest investment portfolio.
“Himes presents himself as a moderate and dismisses the influence of democratic socialists in Congress. But his suggestion raises a basic question about his priorities: Why reach further into a family’s inheritance before demanding greater accountability for Washington’s spending?” Goldstein said.
“Jim described his own family as ‘not wealthy,’ then used that inheritance as an example of something Washington could tax more. He owes families a direct answer: Who would pay? When would they pay? And how would he protect a family whose principal asset is its home?”
Goldstein said protecting the opportunity to build and pass down wealth should be a priority for families at every income level.
“One of the greatest forms of wealth is generational wealth—the chance to leave your children better off because you worked, saved, and sacrificed,” Goldstein said. “That opportunity should belong to families in Bridgeport, Stamford, Norwalk, and every community across our district.”
“Before Washington reaches further into a family’s legacy, it should account for how it spends the money it already collects. I want more families to build something they can pass on to their children.”
Goldstein concluded by emphasizing the stakes of the election.
“I am not going to Congress to get rich. I am going to improve people’s lives, especially the lives of Connecticut residents who have been overlooked during Jim Himes’s 18 years in Washington,” Goldstein said. “Voters deserve a campaign focused on their future: truly affordable healthcare, opportunities to build a career and support a family, and the ability to leave the next generation better off. Those are the results I am running to deliver.”
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