HRES 237 · 118th Congress 2023–2025, ended

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.

Introduced Mar 21, 2023 Originated House Sponsor Tracey Mann R-KS

Fact sheet

Latest action · Mar 23, 2023 Sponsor introductory remarks on measure. (CR H1332)

Progress

Where this resolution reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried. A simple resolution is the business of one chamber alone: it is not sent to the other chamber or to the President, and does not become law.

  1. IntroducedMar 21, 2023
  2. Agreed to in HouseNot reached

Summary

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.

Cosponsors 79

Members who signed on, in the order they did. Signatures ran from Mar 21, 2023 to Mar 29, 2024, with 62 there on the day it was introduced.

SeatCosponsorSigned on
R-GAA. Drew Ferguson IVOriginalMar 21, 2023
R-NEAdrian SmithOriginalMar 21, 2023
D-MNAngie CraigOriginalMar 21, 2023
R-MOAnn WagnerOriginalMar 21, 2023
R-IAAshley HinsonOriginalMar 21, 2023
R-GAAustin ScottOriginalMar 21, 2023
R-ALBarry MooreOriginalMar 21, 2023
R-UTBlake D. MooreOriginalMar 21, 2023
R-MNBrad FinstadOriginalMar 21, 2023
R-WVCarol D. MillerOriginalMar 21, 2023
R-NYClaudia TenneyOriginalMar 21, 2023
R-LAClay HigginsOriginalMar 21, 2023
R-WADan NewhouseOriginalMar 21, 2023
R-PADaniel MeuserOriginalMar 21, 2023
R-ILDarin LaHoodOriginalMar 21, 2023
Show all 79 cosponsors

Actions 3

Everything that happened, newest first.

  1. Mar 23, 2023Sponsor introductory remarks on measure. (CR H1332)
  2. Mar 21, 2023Introduced in House
  3. Mar 21, 2023Referred to the House Committee on Ways and Means.

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Mar 21, 2023Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this resolution on Congress.gov and govinfo.gov.