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".
USA119th CongressHJRES-25| House
| Updated: 4/10/2025
Mike Carey
Republican Representative
Ohio
Cosponsors (9)
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This Joint Resolution enacts a congressional disapproval of a specific rule issued by the Internal Revenue Service (IRS). Utilizing authority under chapter 8 of title 5, United States Code, Congress has formally rejected the IRS's regulation. The disapproved rule, titled "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales," aimed to establish reporting requirements for brokers handling digital asset transactions. Consequently, this congressional action ensures that the IRS rule will have no force or effect , preventing its implementation.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Placed on the Union Calendar, Calendar No. 3.
Reported by the Committee on Ways and Means. H. Rept. 119-7.
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.
Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
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.
DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
The previous question was ordered pursuant to the rule.
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.
Considered as unfinished business. (consideration: CR H1126)
On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Latest Companion Bill Action
SJRES 119-3Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
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.
View VotePassed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
View VoteMessage on Senate action sent to the House.
Presented to President.
Signed by President.
Became Public Law No: 119-5.
Taxation
Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers
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".
USA119th CongressHJRES-25| House
| Updated: 4/10/2025
This Joint Resolution enacts a congressional disapproval of a specific rule issued by the Internal Revenue Service (IRS). Utilizing authority under chapter 8 of title 5, United States Code, Congress has formally rejected the IRS's regulation. The disapproved rule, titled "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales," aimed to establish reporting requirements for brokers handling digital asset transactions. Consequently, this congressional action ensures that the IRS rule will have no force or effect , preventing its implementation.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Placed on the Union Calendar, Calendar No. 3.
Reported by the Committee on Ways and Means. H. Rept. 119-7.
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.
Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
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.
DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
The previous question was ordered pursuant to the rule.
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.
Considered as unfinished business. (consideration: CR H1126)
On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Latest Companion Bill Action
SJRES 119-3Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
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.
View VotePassed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
View VoteMessage on Senate action sent to the House.
Presented to President.
Signed by President.
Became Public Law No: 119-5.
Mike Carey
Republican Representative
Ohio
Cosponsors (9)
Ways and Means Committee
Taxation
Related Bills
- HRES 119-211: 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.
- SJRES 119-3: 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".
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers