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S.J.Res. 3 Senate Taxation

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
Jan 21, 2025
Sponsor
Sen. Cruz, Ted (R-TX)
View on Congress.gov

STAGE 5 OF 8 — SENATE FLOOR

Currently in the Senate. Last action: message received in senate: returned to the senate pursuant to the provisions of h.res. 212 on Mar 12, 2025.

  1. Senate Introduced in Senate Jan 21, 2025
  2. Senate Read twice and referred to the Committee on Finance. Jan 21, 2025
  3. Senate Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c). Feb 12, 2025
  4. Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 11. Feb 12, 2025
  5. Senate Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471) Mar 4, 2025
  6. Senate Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488) Mar 4, 2025
  7. Senate Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. Mar 4, 2025
  8. Senate Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488) Mar 4, 2025
  9. Senate
    On the Motion to Proceed S.J.Res. 3 Mar 4, 2025
    Agreed Yea 70 Nay 28 Roll Call
  10. Senate
    On the Joint Resolution S.J.Res. 3 Mar 4, 2025
    Agreed Yea 70 Nay 27 Roll Call
  11. Senate Message on Senate action sent to the House. Mar 6, 2025
  12. House Received in the House Mar 10, 2025
  13. House Held at the Desk Mar 10, 2025
  14. House Papers returned to Senate pursuant to H. Res. 212 Mar 11, 2025
  15. House Papers returned to Senate pursuant to H. Res. 212. Mar 11, 2025
  16. Senate Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212. Mar 12, 2025

Cosponsors

14

Subjects

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

Committees

  • Finance Committee
    • Discharged From , Feb 12, 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 Senate

Bill Text

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