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Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.

USA118th CongressHRES-237| House 
| Updated: 3/23/2023
Tracey Mann

Tracey Mann

Republican Representative

Kansas

Cosponsors (79)
Matthew M. Rosendale (Republican)Dusty Johnson (Republican)Doug LaMalfa (Republican)Diana Harshbarger (Republican)Bob Good (Republican)Barry Moore (Republican)Adrian Smith (Republican)David Kustoff (Republican)Clay Higgins (Republican)Frank D. Lucas (Republican)Elise M. Stefanik (Republican)Trent Kelly (Republican)Eric A. "Rick" Crawford (Republican)Jake LaTurner (Republican)Mike Johnson (Republican)Guy Reschenthaler (Republican)Ashley Hinson (Republican)John S. Duarte (Republican)Gregory F. Murphy (Republican)Sheila Jackson Lee (Democratic)Warren Davidson (Republican)Scott Franklin (Republican)Mark Alford (Republican)Victoria Spartz (Republican)Robert J. Wittman (Republican)Darin LaHood (Republican)Zachary Nunn (Republican)Glenn Thompson (Republican)Mike Carey (Republican)Stephanie I. Bice (Republican)Claudia Tenney (Republican)Brad R. Wenstrup (Republican)Mariannette Miller-Meeks (Republican)Jimmy Panetta (Democratic)Pete Sessions (Republican)Jeff Duncan (Republican)Angie Craig (Democratic)Dan Newhouse (Republican)A. Drew Ferguson (Republican)Ronny Jackson (Republican)Daniel Meuser (Republican)Don Bacon (Republican)James R. Baird (Republican)Carol D. Miller (Republican)Jake Ellzey (Republican)Ann Wagner (Republican)Mike Kelly (Republican)Kat Cammack (Republican)Brad Finstad (Republican)W. Gregory Steube (Republican)Blake D. Moore (Republican)John R. Moolenaar (Republican)Austin Scott (Republican)Michael Cloud (Republican)Mark E. Green (Republican)Larry Bucshon (Republican)Jim Costa (Democratic)Mary E. Miller (Republican)Lisa C. McClain (Republican)Sam Graves (Republican)Mike Bost (Republican)Russell Fry (Republican)Scott DesJarlais (Republican)Michelle Steel (Republican)John W. Rose (Republican)Derrick Van Orden (Republican)Max L. Miller (Republican)Randy Feenstra (Republican)Robert E. Latta (Republican)Ben Cline (Republican)Russ Fulcher (Republican)Michael Lawler (Republican)Ralph Norman (Republican)Jack Bergman (Republican)Bill Johnson (Republican)Michelle Fischbach (Republican)Troy Balderson (Republican)Bryan Steil (Republican)Michael Guest (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value. The resolution opposes any efforts to impose new taxes on family farms or small businesses and recognizes the importance of generational transfers of farm and family-owned businesses.
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Timeline

Bill from Previous Congress

HRES 117-1015
Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.
Mar 21, 2023
Introduced in House
Mar 21, 2023
Referred to the House Committee on Ways and Means.
Mar 23, 2023
Sponsor introductory remarks on measure. (CR H1332)
  • Bill from Previous Congress

    HRES 117-1015
    Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.


  • March 21, 2023
    Introduced in House


  • March 21, 2023
    Referred to the House Committee on Ways and Means.


  • March 23, 2023
    Sponsor introductory remarks on measure. (CR H1332)

Taxation

Capital gains taxFarmlandSmall businessTax administration and collection, taxpayers

Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.

USA118th CongressHRES-237| House 
| Updated: 3/23/2023
This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value. The resolution opposes any efforts to impose new taxes on family farms or small businesses and recognizes the importance of generational transfers of farm and family-owned businesses.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HRES 117-1015
Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.
Mar 21, 2023
Introduced in House
Mar 21, 2023
Referred to the House Committee on Ways and Means.
Mar 23, 2023
Sponsor introductory remarks on measure. (CR H1332)
  • Bill from Previous Congress

    HRES 117-1015
    Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.


  • March 21, 2023
    Introduced in House


  • March 21, 2023
    Referred to the House Committee on Ways and Means.


  • March 23, 2023
    Sponsor introductory remarks on measure. (CR H1332)
Tracey Mann

Tracey Mann

Republican Representative

Kansas

Cosponsors (79)
Matthew M. Rosendale (Republican)Dusty Johnson (Republican)Doug LaMalfa (Republican)Diana Harshbarger (Republican)Bob Good (Republican)Barry Moore (Republican)Adrian Smith (Republican)David Kustoff (Republican)Clay Higgins (Republican)Frank D. Lucas (Republican)Elise M. Stefanik (Republican)Trent Kelly (Republican)Eric A. "Rick" Crawford (Republican)Jake LaTurner (Republican)Mike Johnson (Republican)Guy Reschenthaler (Republican)Ashley Hinson (Republican)John S. Duarte (Republican)Gregory F. Murphy (Republican)Sheila Jackson Lee (Democratic)Warren Davidson (Republican)Scott Franklin (Republican)Mark Alford (Republican)Victoria Spartz (Republican)Robert J. Wittman (Republican)Darin LaHood (Republican)Zachary Nunn (Republican)Glenn Thompson (Republican)Mike Carey (Republican)Stephanie I. Bice (Republican)Claudia Tenney (Republican)Brad R. Wenstrup (Republican)Mariannette Miller-Meeks (Republican)Jimmy Panetta (Democratic)Pete Sessions (Republican)Jeff Duncan (Republican)Angie Craig (Democratic)Dan Newhouse (Republican)A. Drew Ferguson (Republican)Ronny Jackson (Republican)Daniel Meuser (Republican)Don Bacon (Republican)James R. Baird (Republican)Carol D. Miller (Republican)Jake Ellzey (Republican)Ann Wagner (Republican)Mike Kelly (Republican)Kat Cammack (Republican)Brad Finstad (Republican)W. Gregory Steube (Republican)Blake D. Moore (Republican)John R. Moolenaar (Republican)Austin Scott (Republican)Michael Cloud (Republican)Mark E. Green (Republican)Larry Bucshon (Republican)Jim Costa (Democratic)Mary E. Miller (Republican)Lisa C. McClain (Republican)Sam Graves (Republican)Mike Bost (Republican)Russell Fry (Republican)Scott DesJarlais (Republican)Michelle Steel (Republican)John W. Rose (Republican)Derrick Van Orden (Republican)Max L. Miller (Republican)Randy Feenstra (Republican)Robert E. Latta (Republican)Ben Cline (Republican)Russ Fulcher (Republican)Michael Lawler (Republican)Ralph Norman (Republican)Jack Bergman (Republican)Bill Johnson (Republican)Michelle Fischbach (Republican)Troy Balderson (Republican)Bryan Steil (Republican)Michael Guest (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Capital gains taxFarmlandSmall businessTax administration and collection, taxpayers