To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchanges of virtual currency, and for other purposes.
Latest action · Sep 7, 2017 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 7, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill amends the Internal Revenue Code (IRC) to exclude from gross income up to $600 (adjusted for inflation after 2018) in gain from the sale or exchange of virtual currency for other than cash or cash equivalents. "Virtual currency" is a digital representation of value that is used as a medium of exchange and is not otherwise currency under provisions of the IRC related to foreign currency transactions.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Sep 7, 2017 to Apr 12, 2018, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CO | Jared Polis | Original | Sep 7, 2017 |
| R-NC | Mark Meadows | Sep 14, 2017 | |
| R-NC | Ted Budd | Oct 25, 2017 | |
| R-NJ | Thomas MacArthur | Apr 12, 2018 | |
| R-MN | Tom Emmer | Apr 12, 2018 |
Actions 2
Everything that happened, newest first.
- Sep 7, 2017Introduced in House
- Sep 7, 2017Referred to the House Committee on Ways and Means.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HCONRES 97 | Directing the Clerk of the House of Representatives to make corrections in the enrollment of H.R. 1. | Related bill | Dec 18, 2017 |
| HR 7356 | Token Taxonomy Act | Related bill | Dec 20, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 7, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
