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".

Summary

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

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 21 January 2025

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 21 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 February 2025

   Vote

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

   Source: Committee

5. 26 February 2025

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 28 February 2025

   Calendars

   Placed on the Union Calendar, Calendar No. 3.

   Source: Calendars

7. 28 February 2025

   Reported

   Reported by the Committee on Ways and Means. H. Rept. 119-7.

   Source: Committee

8. 28 February 2025

   Reported

   Reported by the Committee on Ways and Means. H. Rept. 119-7.

   Source: Committee

9. 11 March 2025

   Passed

   Motion to reconsider laid on the table Agreed to without objection.

   Source: Floor

10. 11 March 2025

    Vote

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

    Source: Floor

11. 11 March 2025

    Vote

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

    Source: Floor

12. 11 March 2025

    Floor

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

    Source: Floor

13. 11 March 2025

    Floor

    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.

    Source: Floor

14. 11 March 2025

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

15. 11 March 2025

    Reported

    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.

    Source: Floor

16. 12 March 2025

    Introduced

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

    Source: Calendars

17. 26 March 2025

    Vote

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

    Source: Floor

18. 26 March 2025

    Vote

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

    Source: Floor

19. 27 March 2025

    Floor

    Message on Senate action sent to the House.

    Source: Floor

20. 1 April 2025

    Floor

    Presented to President.

    Source: Floor

21. 1 April 2025

    President

    Presented to President.

    Source: President

22. 10 April 2025

    Became law

    Became Public Law No: 119-5.

    Source: President

23. 10 April 2025

    Became law

    Signed by President.

    Source: BecameLaw

24. 10 April 2025

    President

    Signed by President.

    Source: President

Votes

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

8 official files

• Enrolled Bill

  Enrolled Bill · EN

  DownloadOpen at official source

• Public Law

  Public Law · EN · 11 April 2025

  DownloadOpen at official source

• Public Law

  summary · EN · 10 April 2025

  Open at official source

• Placed on Calendar Senate

  Placed on Calendar Senate · EN · 12 March 2025

  DownloadOpen at official source

• Engrossed in House

  Engrossed in House · EN · 11 March 2025

  DownloadOpen at official source

• Reported in House

  Reported in House · EN · 28 February 2025

  DownloadOpen at official source

• Introduced in House

  Introduced in House · EN · 21 January 2025

  DownloadOpen at official source

• Introduced in House

  summary · EN · 21 January 2025

  Open at official source

Sponsors

• Mike Carey · R · Sponsor
• Tom Emmer · R · Cosponsor
• Rep. Davidson, Warren [R-OH-8] · R · Cosponsor
• Rep. Crank, Jeff [R-CO-5] · R · Cosponsor
• Rep. Tenney, Claudia [R-NY-24] · R · Cosponsor
• Shri Thanedar · D · Cosponsor
• Rep. Nunn, Zachary [R-IA-3] · R · Cosponsor
• Rep. Kustoff, David [R-TN-8] · R · Cosponsor
• William Timmons · R · Cosponsor
• Rep. Downing, Troy [R-MT-2] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A joint resolution 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".
• related to ← Returning Senate Joint Resolution 3 to the Senate.
• related to ← Providing for consideration of the joint resolution (H.J. Res. 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’’; providing for consideration of the bill (H.R. 1156) to amend the CARES Act to extend the statute of limitations for fraud under certain unemployment programs, and for other purposes; providing for consideration of the bill (H.R. 1968) making further continuing appropriations and other extensions for the fiscal year ending September 30, 2025, and for other purposes; and for other purposes.