Quote" Close them and you will be drawing cold air from the basement and outside. "
That's only 1/2 true ... the furnace still draws air from the basement and eventually outside to a point whether you block the step vents or not. It's just the crappy way the back wall of your main storage area is put in these dropped frame units. Heck, my bedroom steps have over a 1.5" gap on both sides of the risers that the old world craftsmen tried to cover up with carpet (and failed).
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