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".
USA119th CongressSJRES-3| Senate
| Updated: 3/12/2025
Ted Cruz
Republican Senator
Texas
Cosponsors (14)
Thomas Tillis (Republican)Jim Banks (Republican)Mike Lee (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)John R. Curtis (Republican)Tom Cotton (Republican)Tim Sheehy (Republican)Tim Scott (Republican)Bill Hagerty (Republican)David McCormick (Republican)Bernie Moreno (Republican)Steve Daines (Republican)Ted Budd (Republican)
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This joint resolution aims to nullify a specific rule issued by the Internal Revenue Service (IRS) regarding the reporting of digital asset transactions. The targeted rule, published in the Federal Register, mandates new requirements for gross proceeds reporting by brokers that facilitate digital asset sales . Utilizing its authority under chapter 8 of title 5, United States Code, Congress seeks to prevent this particular IRS regulation from taking effect. If this resolution is passed, the IRS rule concerning digital asset reporting would be disapproved and rendered without any legal force or effect, effectively blocking its implementation.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
View VoteMeasure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
View VoteMessage on Senate action sent to the House.
Received in the House
Held at the Desk
Papers returned to Senate pursuant to H. Res. 212
Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Taxation
Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers
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".
USA119th CongressSJRES-3| Senate
| Updated: 3/12/2025
This joint resolution aims to nullify a specific rule issued by the Internal Revenue Service (IRS) regarding the reporting of digital asset transactions. The targeted rule, published in the Federal Register, mandates new requirements for gross proceeds reporting by brokers that facilitate digital asset sales . Utilizing its authority under chapter 8 of title 5, United States Code, Congress seeks to prevent this particular IRS regulation from taking effect. If this resolution is passed, the IRS rule concerning digital asset reporting would be disapproved and rendered without any legal force or effect, effectively blocking its implementation.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
View VoteMeasure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
View VoteMessage on Senate action sent to the House.
Received in the House
Held at the Desk
Papers returned to Senate pursuant to H. Res. 212
Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Ted Cruz
Republican Senator
Texas
Cosponsors (14)
Thomas Tillis (Republican)Jim Banks (Republican)Mike Lee (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)John R. Curtis (Republican)Tom Cotton (Republican)Tim Sheehy (Republican)Tim Scott (Republican)Bill Hagerty (Republican)David McCormick (Republican)Bernie Moreno (Republican)Steve Daines (Republican)Ted Budd (Republican)
Finance Committee
Taxation
Related Bills
- HJRES 119-25: 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".
- HRES 119-212: Returning Senate Joint Resolution 3 to the Senate.
- 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