US HJRes25

Bill

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".

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Introduced
01/21/2025

In Committee
02/26/2025

Crossed Over
03/12/2025

Passed
04/01/2025

Dead

Signed/Enacted/Adopted
04/10/2025

Introduced Session

119th Congress

Bill Summary

AI Summary

This joint resolution aims to formally disapprove a specific Internal Revenue Service (IRS) rule concerning reporting requirements for digital asset brokers. The resolution targets a rule published in the Federal Register on December 30, 2024, which would have mandated new reporting standards for brokers who regularly provide services for digital asset sales. By passing this resolution, Congress would effectively invalidate the IRS rule, preventing it from being implemented or enforced. The mechanism used here is under Chapter 8 of Title 5 of the United States Code, which allows Congress to review and potentially nullify certain federal agency rules through a formal disapproval process. In essence, this resolution represents a legislative check on administrative rulemaking, specifically challenging the proposed digital asset transaction reporting requirements that the IRS had planned to implement.

Committee Categories

Budget and Finance

Sponsors (10)

Mike Carey (R)*, Jeff Crank (R), Warren Davidson (R), Troy Downing (R), Tom Emmer (R), David Kustoff (R), Zach Nunn (R), Claudia Tenney (R), Shri Thanedar (D), William Timmons (R),

Last Action

Became Public Law No: 119-5. (on 04/10/2025)

Official Document

https://www.congress.gov/bill/119th-congress/house-joint-resolution/25/all-info

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/119th-congress/house-joint-resolution/25/all-info
BillText	https://www.congress.gov/119/bills/hjres25/BILLS-119hjres25enr.pdf
BillText	https://www.congress.gov/119/bills/hjres25/BILLS-119hjres25pcs.pdf
BillText	https://www.congress.gov/119/bills/hjres25/BILLS-119hjres25eh.pdf
BillText	https://www.congress.gov/119/bills/hjres25/BILLS-119hjres25rh.pdf
BillText	https://www.congress.gov/119/bills/hjres25/BILLS-119hjres25ih.pdf

Bill	Bill Name	Last Action	Type
HRes211	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 pu	Pursuant to the provisions of H.Res. 707, H.Res. 211 is amended.	Related
SJRes3	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".	Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.	Same As

Bill > HJRes25

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

bill text

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