US Congressional Bill on Gross Proceeds Reporting by Brokers

Main Subject: Taxation

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.

SJRES3-119, HRES211-119,

House floor actions Actions

Floor

Apr. 01
2025

Presented to President.

Mar. 11
2025

Motion to reconsider laid on the table Agreed to without objection.
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)
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.
The previous question was ordered pursuant to the rule.
DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
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.
Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
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.

Calendars
Feb. 28 2025	Placed on the Union Calendar, Calendar No. 3.

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

Library of Congress Actions

President
Apr. 01 2025	Presented to President.

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

Senate Actions

Floor
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. Measure laid before Senate by motion. (consideration: CR S1856-1864) Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.

Calendars
Mar. 12 2025	Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.

House bill HJRES25-119

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".

House bill HJRES25-119

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".

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