EXCLUSIVE: Costa pitches bill to protect inheritance by preserving stepped-up basis

This press release from Representative Jim Costa (D-CA) was published on Tue Mar 18 and titled "EXCLUSIVE: Costa pitches bill to protect inheritance by preserving stepped-up basis". It focuses on taxes.

EXCLUSIVE: Costa pitches bill to protect inheritance by preserving stepped-up basis EXCLUSIVE: Costa pitches bill to protect inheritance by preserving stepped-up basis Rep. Jim Costa (D–Fresno) has introduced legislation that seeks to protect people from having to pay an inheritance tax. Costa teamed up with a bipartisan group of representatives to introduce a bill in support of preserving the stepped-up basis provision in the tax code. Why it matters: The stepped-up provision allows Americans to inherit assets – such as land, equipment and buildings – and adjust their cost basis to reflect the fair market value, which protects them from capital gains taxes. Anthony.Camach… Wed, 03/19/2025 - 02:46 August 10, 2025