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

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

<span>EXCLUSIVE: Costa pitches bill to protect inheritance by preserving stepped-up basis</span> <div class="evo-article__body"><p>Rep. Jim Costa (D–Fresno) has introduced legislation that seeks to protect people from having to pay an inheritance tax.&nbsp;</p><p>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.&nbsp;</p><p><strong>Why it matters:</strong> 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.&nbsp;</p></div> <span><span>Anthony.Camach…</span></span> <span><time datetime="2025-03-19T02:46:43-04:00" title="Wednesday, March 19, 2025 - 02:46">Wed, 03/19/2025 - 02:46</time> </span> <div class="col-auto">August 10, 2025 </div>