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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill imposes that the House of Representatives— supports the preservation of the stepped-up basis; opposes any efforts to impose new taxes on family farms or small businesses. It relies on tax rate changes and trade restrictions. The main policy areas are Agriculture, Finance, Foreign Policy, and Civil Rights.
Who Benefits and How
The main beneficiaries are the people, organizations, or agencies identified in the bill's substantive provisions.
Who Bears the Burden and How
Tribal governments and members affected by the bill would take on compliance duties, Foreign businesses and cross-border trade participants affected by the bill would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Imposes that the House of Representatives— supports the preservation of the stepped-up basis; opposes any efforts to impose new taxes on family farms or small businesses.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill imposes that the House of Representatives— supports the preservation of the stepped-up basis; opposes any efforts to impose new taxes on family farms or small businesses.
Key Policy Areas
Agriculture, Finance, Foreign Policy, Civil Rights
Primary Purpose
The bill imposes that the House of Representatives— supports the preservation of the stepped-up basis; opposes any efforts to impose new taxes on family farms or small businesses.
Policy Domains
Whole bill
Identified Costs
- Tribal governments and members affected by the bill
- Foreign businesses and cross-border trade participants affected by the bill
- Businesses and employers affected by the bill
- Agricultural producers and rural communities affected by the bill
Sponsors
Legislative Progress
In CommitteeMr. Mann (for himself, Mr. Costa, Mr. Latta, Ms. Craig, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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