Mitch McConnell

This resolution condemns China's Hong Kong national security law (officially called The Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region), the Hong Kong government's Safeguarding National Security Ordinance, and related human rights abuses. The resolution also (1) supports the people of Hong Kong as they fight to exercise fundamental rights and freedoms; and (2) calls upon the Hong Kong government to drop all sedition and national security law-related charges and free all defendants immediately, including Jimmy Lai.

This resolution authorizes quarterly blood donation drives at the Senate during the 119th Congress.

This bill revises Chapter 22 of the Harmonized Tariff Schedule of the United States to provide a uniform rate of duty for all whiskies.

This bill excludes from gross income the gain from the sale or exchange of qualified farmland property to a qualified farmer that is contributed to an individual retirement account (IRA). This generally prevents the federal capital gains tax from being imposed on such gain. (Conditions apply.) Specifically, the bill excludes from gross income any gain from the sale or exchange of qualified farmland property contributed to an IRA within 60 days of the sale or exchange if  * the requisite election is made, * the property is sold to an individual actively engaged in farming (qualified farmer), * the qualified farmer signs a written agreement consenting to the application of a federal tax if the property is disposed of or no longer used for farming within the first 10 years after the sale or exchange, and * the written agreement is filed. The bill defines *qualified farmland property* as real property located in the United States that, for substantially all of the 10 years preceding the sale or exchange, is used by the farmer (or lessee) for farming purposes. However, under the bill, if the qualified farmland property is disposed of or no longer used for farming within the first 10 years after the sale or exchange, a tax is imposed on the qualified farmer equal to the amount excluded from gross income multiplied by the sum of the highest tax rate on adjusted net capital gains and the net investment income tax rate (currently 23.8%), plus interest.