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.
How Congress Voted
Related bills
Related
- H.Res. 211Providing 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.119
- S.J.Res. 3A 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".119
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Legislative Journey
- Introduced
- Committee
- Floor
- Passed Chamber 1
- Passed Chamber 2
- Signed
Became Public Law No: 119-5.
Became Public Law No: 119-5.
Signed by President.
Signed by President.
Presented to President.
HousePresented to President.
Message on Senate action sent to the House.
SenatePassed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
SenatePassed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Measure laid before Senate by motion. (consideration: CR S1856-1864)
SenateMotion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
SenateReceived in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
SenateMotion to reconsider laid on the table Agreed to without objection.
HouseOn passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
HousePassed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Considered as unfinished business. (consideration: CR H1126)
HousePOSTPONED 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.
HouseThe previous question was ordered pursuant to the rule.
HouseDEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
HouseRule 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.
HouseConsidered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
HouseRules 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.
HousePlaced on the Union Calendar, Calendar No. 3.
HouseReported by the Committee on Ways and Means. H. Rept. 119-7.
HouseReported by the Committee on Ways and Means. H. Rept. 119-7.
Ordered to be Reported by the Yeas and Nays: 26 - 16.
HouseCommittee Consideration and Mark-up Session Held
HouseReferred to the House Committee on Ways and Means.
HouseIntroduced in House
Introduced in House