diff --git a/.github/ISSUE_TEMPLATE/bug.yml b/.github/ISSUE_TEMPLATE/bug.yml
index 7f83d1953..b2be81ea0 100644
--- a/.github/ISSUE_TEMPLATE/bug.yml
+++ b/.github/ISSUE_TEMPLATE/bug.yml
@@ -15,7 +15,7 @@ body:
     attributes:
       label: Singer SDK Version
       description: Version of the library you are using
-      placeholder: "0.32.0b2"
+      placeholder: "0.32.0b3"
     validations:
       required: true
   - type: checkboxes
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 47f7bdded..531b77f77 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,13 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## v0.32.0b3 (2023-09-22)
+
+### 🐛 Fixes
+
+- [#1977](https://github.com/meltano/sdk/issues/1977) Fix hanging downstream tests in tap-postgres
+- [#1970](https://github.com/meltano/sdk/issues/1970) Warn instead of crashing when schema helpers cannot append `null` to types
+
 ## v0.32.0b2 (2023-09-15)
 
 ### ⚡ Performance Improvements
diff --git a/cookiecutter/mapper-template/{{cookiecutter.mapper_id}}/pyproject.toml b/cookiecutter/mapper-template/{{cookiecutter.mapper_id}}/pyproject.toml
index 5d17c0271..a30dfb1a5 100644
--- a/cookiecutter/mapper-template/{{cookiecutter.mapper_id}}/pyproject.toml
+++ b/cookiecutter/mapper-template/{{cookiecutter.mapper_id}}/pyproject.toml
@@ -22,12 +22,12 @@ packages = [
 
 [tool.poetry.dependencies]
 python = ">=3.7.1,<4"
-singer-sdk = { version="~=0.32.0b2" }
+singer-sdk = { version="~=0.32.0b3" }
 fs-s3fs = { version = "~=1.1.1", optional = true }
 
 [tool.poetry.group.dev.dependencies]
 pytest = ">=7.4.0"
-singer-sdk = { version="~=0.32.0b2", extras = ["testing"] }
+singer-sdk = { version="~=0.32.0b3", extras = ["testing"] }
 
 [tool.poetry.extras]
 s3 = ["fs-s3fs"]
diff --git a/cookiecutter/tap-template/{{cookiecutter.tap_id}}/pyproject.toml b/cookiecutter/tap-template/{{cookiecutter.tap_id}}/pyproject.toml
index b03397cd3..77920b3b1 100644
--- a/cookiecutter/tap-template/{{cookiecutter.tap_id}}/pyproject.toml
+++ b/cookiecutter/tap-template/{{cookiecutter.tap_id}}/pyproject.toml
@@ -21,7 +21,7 @@ packages = [
 
 [tool.poetry.dependencies]
 python = ">=3.7.1,<4"
-singer-sdk = { version="~=0.32.0b2" }
+singer-sdk = { version="~=0.32.0b3" }
 fs-s3fs = { version = "~=1.1.1", optional = true }
 {%- if cookiecutter.stream_type in ["REST", "GraphQL"] %}
 requests = "~=2.31.0"
@@ -32,7 +32,7 @@ cached-property = "~=1" # Remove after Python 3.7 support is dropped
 
 [tool.poetry.group.dev.dependencies]
 pytest = ">=7.4.0"
-singer-sdk = { version="~=0.32.0b2", extras = ["testing"] }
+singer-sdk = { version="~=0.32.0b3", extras = ["testing"] }
 
 [tool.poetry.extras]
 s3 = ["fs-s3fs"]
diff --git a/cookiecutter/target-template/{{cookiecutter.target_id}}/pyproject.toml b/cookiecutter/target-template/{{cookiecutter.target_id}}/pyproject.toml
index 5df0a7a2c..52fc1736a 100644
--- a/cookiecutter/target-template/{{cookiecutter.target_id}}/pyproject.toml
+++ b/cookiecutter/target-template/{{cookiecutter.target_id}}/pyproject.toml
@@ -21,7 +21,7 @@ packages = [
 
 [tool.poetry.dependencies]
 python = ">=3.7.1,<4"
-singer-sdk = { version="~=0.32.0b2" }
+singer-sdk = { version="~=0.32.0b3" }
 fs-s3fs = { version = "~=1.1.1", optional = true }
 {%- if cookiecutter.serialization_method != "SQL" %}
 requests = "~=2.31.0"
@@ -29,7 +29,7 @@ requests = "~=2.31.0"
 
 [tool.poetry.dev-dependencies]
 pytest = ">=7.4.0"
-singer-sdk = { version="~=0.32.0b2", extras = ["testing"] }
+singer-sdk = { version="~=0.32.0b3", extras = ["testing"] }
 
 [tool.poetry.extras]
 s3 = ["fs-s3fs"]
diff --git a/docs/conf.py b/docs/conf.py
index 9f044f6e9..941b2e0dc 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -26,7 +26,7 @@
 author = "Meltano Core Team and Contributors"
 
 # The full version, including alpha/beta/rc tags
-release = "0.32.0b2"
+release = "0.32.0b3"
 
 
 # -- General configuration ---------------------------------------------------
diff --git a/pyproject.toml b/pyproject.toml
index 06d77f35a..732e87b44 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "singer-sdk"
-version = "0.32.0b2"
+version = "0.32.0b3"
 description = "A framework for building Singer taps"
 authors = ["Meltano Team and Contributors <hello@meltano.com>"]
 maintainers = ["Meltano Team and Contributors <hello@meltano.com>"]
@@ -135,7 +135,7 @@ norecursedirs = "cookiecutter"
 
 [tool.commitizen]
 name = "cz_version_bump"
-version = "0.32.0b2"
+version = "0.32.0b3"
 changelog_merge_prerelease = true
 prerelease_offset = 1
 tag_format = "v$major.$minor.$patch$prerelease"