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H.J.Res. 25 House Taxation

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
Jan 21, 2025
Sponsor
Rep. Carey, Mike (R-OH-15)
View on Congress.gov

BECAME LAW APR 10, 2025

Became Law on Apr 10, 2025.

  1. House Introduced in House Jan 21, 2025
  2. House Referred to the House Committee on Ways and Means. Jan 21, 2025
  3. House Committee Consideration and Mark-up Session Held Feb 26, 2025
  4. House Ordered to be Reported by the Yeas and Nays: 26 - 16. Feb 26, 2025
  5. House Reported by the Committee on Ways and Means. H. Rept. 119-7. Feb 28, 2025
  6. House Placed on the Union Calendar, Calendar No. 3. Feb 28, 2025
  7. 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. Mar 11, 2025
  8. House Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102) Mar 11, 2025
  9. 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. Mar 11, 2025
  10. House DEBATE - The House proceeded with one hour of debate on H.J. Res. 25. Mar 11, 2025
  11. House The previous question was ordered pursuant to the rule. Mar 11, 2025
  12. 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. Mar 11, 2025
  13. House Considered as unfinished business. (consideration: CR H1126) Mar 11, 2025
  14. House Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099) Mar 11, 2025
  15. House On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099) Mar 11, 2025
  16. House Motion to reconsider laid on the table Agreed to without objection. Mar 11, 2025
  17. House
    On Passage Mar 11, 2025
    Agreed Yea 292 Nay 132 Roll Call
  18. Senate Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27. Mar 12, 2025
  19. Senate Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150. Mar 26, 2025
  20. Senate Measure laid before Senate by motion. (consideration: CR S1856-1864) Mar 26, 2025
  21. House Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151. Mar 26, 2025
  22. Senate Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151. Mar 26, 2025
  23. Senate
    On the Motion to Proceed H.J.Res. 25 Mar 26, 2025
    Agreed Yea 70 Nay 28 Roll Call
  24. Senate Message on Senate action sent to the House. Mar 27, 2025
  25. Senate
    On the Joint Resolution H.J.Res. 25 Mar 27, 2025
    Agreed Yea 70 Nay 28 Roll Call
  26. House
    Presented to President. Apr 1, 2025
  27. House
    Signed by President. Apr 10, 2025
  28. House Latest action
    Became Public Law No: 119-5. Apr 10, 2025

Cosponsors

9

Subjects

Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers

Committees

  • Ways and Means Committee
    • Reported By , Feb 28, 2025
    • Markup By , Feb 26, 2025
    • Referred To , Jan 21, 2025

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.

Summary as of: Introduced in House

Bill Text

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