# 119-hres-206: 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.

119-hres-206, 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., is a 119th Congress bill sponsored by Rep. Mann, Tracey [R-KS-1] (R-KS); status introduced (as of 2026-05-09).

- Canonical: https://policyrisk.com/legislation/119-hres-206
- As of: 2026-05-09
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hres-206
- Congress: 119
- Title: 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.
- Status: introduced
- Introduced: 2025-03-10
- Sponsor: Rep. Mann, Tracey [R-KS-1] (R-KS)
- Cosponsors: 29
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2026-05-09

## Summary

**Preserve the stepped-up basis** for inherited assets so family farms and small businesses can pass operations to the next generation. - Farmers and ranchers: The resolution stresses that the stepped-up basis affects roughly 98% of farms according to the Department of Agriculture and that about 66% of midsized farms would face higher tax bills if it were eliminated, per the Economic Research Service. - Family-owned small businesses: It highlights that about 19% of all businesses are family-owned, cites succession planning concerns, and opposes new taxes that could raise costs for those transfers. - Lawmakers and tax debates: The resolution would state support for section 1014 of the tax code and formally oppose efforts to impose new taxes on family farms or small businesses, signaling a clear policy preference in future tax discussions.

## Cosponsors (29)

- Rep. Costa, Jim [D-CA-21] (D-CA), 2025-03-10T00:00:00.000Z
- Rep. Panetta, Jimmy [D-CA-19] (D-CA), 2025-03-10T00:00:00.000Z
- Rep. Craig, Angie [D-MN-2] (D-MN), 2025-03-10T00:00:00.000Z
- Rep. Smith, Adrian [R-NE-3] (R-NE), 2025-03-10T00:00:00.000Z
- Rep. Finstad, Brad [R-MN-1] (R-MN), 2025-03-10T00:00:00.000Z
- Rep. Feenstra, Randy [R-IA-4] (R-IA), 2025-03-10T00:00:00.000Z
- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2025-03-10T00:00:00.000Z
- Rep. Latta, Robert E. [R-OH-5] (R-OH), 2025-03-10T00:00:00.000Z
- Rep. Fulcher, Russ [R-ID-1] (R-ID), 2025-03-10T00:00:00.000Z
- Rep. Wagner, Ann [R-MO-2] (R-MO), 2025-03-10T00:00:00.000Z
- Rep. Tenney, Claudia [R-NY-24] (R-NY), 2025-03-10T00:00:00.000Z
- Rep. Newhouse, Dan [R-WA-4] (R-WA), 2025-03-10T00:00:00.000Z
- Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] (R-TN), 2025-03-10T00:00:00.000Z
- Rep. Alford, Mark [R-MO-4] (R-MO), 2025-03-10T00:00:00.000Z
- Rep. Moolenaar, John R. [R-MI-2] (R-MI), 2025-03-10T00:00:00.000Z
- Rep. Graves, Sam [R-MO-6] (R-MO), 2025-03-10T00:00:00.000Z
- Rep. Lucas, Frank D. [R-OK-3] (R-OK), 2025-03-10T00:00:00.000Z
- Rep. Self, Keith [R-TX-3] (R-TX), 2025-03-10T00:00:00.000Z
- Rep. Guest, Michael [R-MS-3] (R-MS), 2025-03-10T00:00:00.000Z
- Rep. Schmidt, Derek [R-KS-2] (R-KS), 2025-03-10T00:00:00.000Z
- Rep. Miller, Mary E. [R-IL-15] (R-IL), 2025-03-10T00:00:00.000Z
- Rep. Rose, John W. [R-TN-6] (R-TN), 2025-03-10T00:00:00.000Z
- Rep. Cole, Tom [R-OK-4] (R-OK), 2025-03-10T00:00:00.000Z
- Rep. Moore, Barry [R-AL-1] (R-AL), 2025-03-10T00:00:00.000Z
- Rep. Van Orden, Derrick [R-WI-3] (R-WI), 2025-03-11T00:00:00.000Z
- Rep. LaHood, Darin [R-IL-16] (R-IL), 2025-03-11T00:00:00.000Z
- Rep. Evans, Gabe [R-CO-8] (R-CO), 2025-03-25T00:00:00.000Z
- Rep. Moran, Nathaniel [R-TX-1] (R-TX), 2025-03-26T00:00:00.000Z
- Rep. Stefanik, Elise M. [R-NY-21] (R-NY), 2025-04-09T00:00:00.000Z

## Related bills

- 119-hr-7148: Consolidated Appropriations Act, 2026
- 119-hr-452: Miracle on Ice Congressional Gold Medal Act
- 119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act
- 119-hr-1502: North Platte Canteen Congressional Gold Medal Act
- 119-hr-703: Main Street Tax Certainty Act
- 119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025

## Sources
- [119-hres-206 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-resolution/206)

## Related
- [119-hr-7148: Consolidated Appropriations Act, 2026](https://policyrisk.com/legislation/119-hr-7148)
- [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452)
- [119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act](https://policyrisk.com/legislation/119-hr-4382)
- [119-hr-1502: North Platte Canteen Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1502)
- [119-hr-703: Main Street Tax Certainty Act](https://policyrisk.com/legislation/119-hr-703)
- [119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025](https://policyrisk.com/legislation/119-hr-38)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hres-206 (as of 2026-05-09).