Passed on 2025-04-10
Resolution · 119th Congress · HJRES 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".
Refreshed 4 h ago
Introduced 2025-01-21Topic: taxesSummary
Summary by the Congressional Research ServiceThis joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.
Sponsors
- Mike Carey Republican sponsor
- 9 cosponsors
Recorded votes
| Date | Chamber | Question | Result | Yeas | Nays |
|---|---|---|---|---|---|
| 2025-03-26 | Senate roll 151 | On the Joint Resolution H.J.Res. 25 | Joint Resolution Passed | 70 | 28 |
| 2025-03-26 | Senate roll 150 | On the Motion to Proceed H.J.Res. 25 | Motion to Proceed Agreed to | 70 | 28 |
| 2025-03-11 | House roll 71 | On Passage | Passed | 292 | 132 |
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2025-04-10 | Became Public Law No: 119-5. | enact | |
| 2025-04-10 | Became Public Law No: 119-5. | enact | |
| 2025-04-10 | Signed by President. | ||
| 2025-04-10 | Signed by President. | enact | |
| 2025-04-01 | House | Presented to President. | sent to executive |
| 2025-04-01 | Presented to President. | sent to executive | |
| 2025-03-27 | Senate | Message on Senate action sent to the House. | |
| 2025-03-26 | Senate | Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151. | |
| 2025-03-26 | Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151. | floor pass | |
| 2025-03-26 | Senate | Measure laid before Senate by motion. (consideration: CR S1856-1864) | |
| 2025-03-26 | Senate | Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150. | |
| 2025-03-12 | Senate | Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27. | |
| 2025-03-11 | House | Motion to reconsider laid on the table Agreed to without objection. | |
| 2025-03-11 | House | On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099) | |
| 2025-03-11 | Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099) | floor pass | |
| 2025-03-11 | House | Considered as unfinished business. (consideration: CR H1126) | |
| 2025-03-11 | House | 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. | |
| 2025-03-11 | House | The previous question was ordered pursuant to the rule. | |
| 2025-03-11 | House | DEBATE - The House proceeded with one hour of debate on H.J. Res. 25. | |
| 2025-03-11 | 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. | |
| 2025-03-11 | House | Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102) | |
| 2025-03-11 | House | 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. | |
| 2025-02-28 | House | Placed on the Union Calendar, Calendar No. 3. | |
| 2025-02-28 | House | Reported by the Committee on Ways and Means. H. Rept. 119-7. | report |
| 2025-02-28 | Reported by the Committee on Ways and Means. H. Rept. 119-7. | report | |
| 2025-02-26 | House | Ordered to be Reported by the Yeas and Nays: 26 - 16. | refer |
| 2025-02-26 | House | Committee Consideration and Mark-up Session Held | refer |
| 2025-01-21 | House | Referred to the House Committee on Ways and Means. | refer |
| 2025-01-21 | Introduced in House | introduce | |
| 2025-01-21 | Introduced in House | introduce |