Congress 119 - HJRES 25 - Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".

Sponsor

Cosponsors

Topics

Administrative law and regulatory procedures Congressional oversight Currency Digital media Financial services and investments Internal Revenue Service (IRS) Tax administration and collection, taxpayers Taxation

Full Text

View Full Bill Text

Votes

Summary

This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024.

Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.

Actions

Apr 10, 2025

Became Public Law No: 119-5.
Apr 10, 2025

Signed by President.
Apr 1, 2025

Presented to President.
Mar 27, 2025

Message on Senate action sent to the House.
Mar 26, 2025

Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Mar 26, 2025

Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Mar 26, 2025

Measure laid before Senate by motion. (consideration: CR S1856-1864)
Mar 26, 2025

Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
Mar 12, 2025

Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
Mar 11, 2025

Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
Mar 11, 2025

POSTPONED PROCEEDINGS - At the conclusion of debate on H.J. Res. 25, the Chair put the question on passage of the joint resolution and by voice vote announced that the ayes had prevailed. Mr. Davis (IL) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Mar 11, 2025

Rules Committee Resolution H. Res. 211 Reported to House. Rule provides for consideration of H.J. Res. 25, H.R. 1156 and H.R. 1968. The resolution provides for consideration of H.J. Res. 25, H.R. 1156, and H.R. 1968 under a closed rule. Also, the resolution provides for one hour of general debate and one motion to recommit on each measure.
Mar 11, 2025

The previous question was ordered pursuant to the rule.
Mar 11, 2025

DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
Mar 11, 2025

Rule provides for consideration of H.J. Res. 25, H.R. 1156 and H.R. 1968. The resolution provides for consideration of H.J. Res. 25, H.R. 1156, and H.R. 1968 under a closed rule. Also, the resolution provides for one hour of general debate and one motion to recommit on each measure.
Mar 11, 2025

Motion to reconsider laid on the table Agreed to without objection.
Mar 11, 2025

On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Mar 11, 2025

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Mar 11, 2025

Considered as unfinished business. (consideration: CR H1126)
Feb 28, 2025

Reported by the Committee on Ways and Means. H. Rept. 119-7.
Feb 28, 2025

Placed on the Union Calendar, Calendar No. 3.
Feb 26, 2025

Ordered to be Reported by the Yeas and Nays: 26 - 16.
Feb 26, 2025

Committee Consideration and Mark-up Session Held
Jan 21, 2025

Referred to the House Committee on Ways and Means.
Jan 21, 2025

Introduced in House

Amendments

Related Bills