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 Spreadsheet

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; 62 are original cosponsors, there from 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
R-TNDavid KustoffOriginalMar 21, 2023
R-TNDiana HarshbargerOriginalMar 21, 2023
R-NEDon BaconOriginalMar 21, 2023
R-CADoug LaMalfaOriginalMar 21, 2023
R-SDDusty JohnsonOriginalMar 21, 2023
R-NYElise M. StefanikOriginalMar 21, 2023
R-AREric A. "Rick" CrawfordOriginalMar 21, 2023
R-OKFrank D. LucasOriginalMar 21, 2023
R-PAGlenn ThompsonOriginalMar 21, 2023
R-NCGregory F. MurphyOriginalMar 21, 2023
R-PAGuy ReschenthalerOriginalMar 21, 2023
R-MIJack BergmanOriginalMar 21, 2023
R-TXJake EllzeyOriginalMar 21, 2023
R-KSJake LaTurnerOriginalMar 21, 2023
R-INJames R. BairdOriginalMar 21, 2023
R-SCJeff DuncanOriginalMar 21, 2023
D-CAJim CostaOriginalMar 21, 2023
D-CAJimmy PanettaOriginalMar 21, 2023
R-MIJohn R. MoolenaarOriginalMar 21, 2023
R-CAJohn S. DuarteOriginalMar 21, 2023
R-FLKat CammackOriginalMar 21, 2023
R-INLarry BucshonOriginalMar 21, 2023
R-MILisa C. McClainOriginalMar 21, 2023
R-IAMariannette Miller-MeeksOriginalMar 21, 2023
R-MOMark AlfordOriginalMar 21, 2023
R-ILMary E. MillerOriginalMar 21, 2023
R-MTMatthew M. Rosendale, Sr.OriginalMar 21, 2023
R-OHMax L. MillerOriginalMar 21, 2023
R-MSMichael GuestOriginalMar 21, 2023
R-MNMichelle FischbachOriginalMar 21, 2023
R-CAMichelle SteelOriginalMar 21, 2023
R-OHMike CareyOriginalMar 21, 2023
R-LAMike JohnsonOriginalMar 21, 2023
R-TXPete SessionsOriginalMar 21, 2023
R-SCRalph NormanOriginalMar 21, 2023
R-IARandy FeenstraOriginalMar 21, 2023
R-OHRobert E. LattaOriginalMar 21, 2023
R-VARobert J. WittmanOriginalMar 21, 2023
R-TXRonny JacksonOriginalMar 21, 2023
R-SCRussell FryOriginalMar 21, 2023
R-FLScott FranklinOriginalMar 21, 2023
D-TXSheila Jackson LeeOriginalMar 21, 2023
R-MSTrent KellyOriginalMar 21, 2023
R-INVictoria SpartzOriginalMar 21, 2023
R-FLW. Gregory SteubeOriginalMar 21, 2023
R-OHWarren DavidsonOriginalMar 21, 2023
R-IAZachary NunnOriginalMar 21, 2023
R-OHBill JohnsonMar 24, 2023
R-TNMark E. GreenMar 24, 2023
R-TNScott DesJarlaisMar 24, 2023
R-OKStephanie I. BiceMar 24, 2023
R-OHBrad R. WenstrupApr 19, 2023
R-OHTroy BaldersonApr 19, 2023
R-VABen ClineMay 15, 2023
R-VABob GoodMay 15, 2023
R-ILMike BostMay 15, 2023
R-NYMichael LawlerJun 12, 2023
R-TNJohn W. RoseMar 12, 2024
R-IDRuss FulcherMar 12, 2024
R-WIDerrick Van OrdenMar 13, 2024
R-TXMichael CloudMar 13, 2024
R-MOSam GravesMar 15, 2024
R-PAMike KellyMar 19, 2024
R-WIBryan SteilMar 29, 2024

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Mar 21, 2023

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.

Research

What has been written about this resolution: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Printed hearings 1

Hearings whose printed record names this resolution, newest first: hearings on it, and wider hearings where it came up.

NumberHearingCommitteeHeld
Serial No. 118-5HEARING FOR THE PURPOSE OF RECEIVING TESTIMONY FROM THE HONORABLE THOMAS J. VILSACK, SECRETARY, U.S. DEPARTMENT OF AGRICULTURE136 pagesAgriculture CommitteeMar 28, 2023

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced
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.

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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.