Bill · H.J.Res. 25· House(119-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".
- Introduced
- 1/21/2025
- Last activity
- 4/10/2025 — Became Public Law No: 119-5.
- Sponsored by
- Mike Carey
- Cosponsors
- - 8 - 1
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
What this bill would do
This joint resolution is a measure to express congressional disapproval of a specific rule submitted by the Internal Revenue Service. The rule in question concerns "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales." If passed, this resolution would ensure that the rule has no force or effect. It is being addressed during the first session of the One Hundred Nineteenth Congress.
Yes· 3 of 6
Would high-income households be better off under this?+3
The resolution prevents new reporting requirements on digital asset sales which are frequently utilized by high-income individuals.
Would business owners be better off under this?+3
The resolution prevents the increased compliance and reporting burdens on brokers and asset owners.
Would people with substantial wealth be better off under this?+3
The resolution prevents the implementation of tax reporting requirements for digital asset transactions often held by high-net-worth individuals.
The opposite· 3 of 4
Does this make what the government does easier for the public to see?-4
The resolution hinders the government's ability to monitor and report on digital asset transactions through gross proceeds reporting.
Does this give the federal government more power?-3
The resolution uses congressional disapproval to strip the IRS of its authority to implement the new gross proceeds reporting rule.
Does this raise taxes on the highest earners?-3
The resolution prevents an IRS rule designed to increase transparency and reporting of digital asset proceeds often held by high-income earners.
What Congress actually voted on
3 recorded votes have been taken on this bill. 2 of them decided something; the rest moved it along.
- The House: the vote on whether to pass the billPassed 292–132
This is the real decision in this chamber. Passing here sends the bill to the other chamber, which must pass it too before it can go to the President.
03/11/2025 · Roll call 71 · recorded as “On Passage”
- The Senate: the vote on whether to pass the joint resolutionJoint Resolution Passed 70–28
A joint resolution is a bill by another name: it goes to the other chamber and then to the President. Most of them are used to overturn a rule an agency has made.
03/26/2025 · Roll call 151 · recorded as “On the Joint Resolution H.J.Res. 25”
Who it would affect, and how
Potential Positive Impacts for People
- Prevention of IRS Rule: By disapproving the rule, the resolution prevents the implementation of the Internal Revenue Service's requirements regarding "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales" (H.J.Res.25).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+3Good For High Income Households+3Good For High Net Worth Individuals+3
- Governance And Ideology
- Improves Privacy Rights+2Improves Government Transparency-4Increases Federal Power-3
- Economy And Finance
- Improves Small Business Support+3Increases Wealthy Taxes-3Increases Corporate Taxes-2
- Education And Technology
- Improves Data Privacy+2
- Public Law(4/11/2025)
The text as it became law
- Enrolled Bill
The final version, on its way to the President
- 4/10/2025
- Signed by President.
- Became Public Law No: 119-5.
- 4/1/2025
- Presented to President.
- 3/27/2025
- Message on Senate action sent to the House.
- 3/26/2025
- Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
- Measure laid before Senate by motion. (consideration: CR S1856-1864)
- Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
- Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
- 3/12/2025
- Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
- 3/11/2025
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
- On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
- Considered as unfinished business. (consideration: CR H1126)
- 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.
- The previous question was ordered pursuant to the rule.
- DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
- 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.
- Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
- 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.
- 2/28/2025
- Reported by the Committee on Ways and Means. H. Rept. 119-7.
- Placed on the Union Calendar, Calendar No. 3.
- 2/27/2025
- 1 Cosponsor added.
- 2/26/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported by the Yeas and Nays: 26 - 16.
- 2/25/2025
- 1 Cosponsor added.
- 2/24/2025
- 3 Cosponsors added.
- 2/7/2025
- 1 Cosponsor added.
- 2/4/2025
- 1 Cosponsor added.
- 1/28/2025
- 2 Cosponsors added.
- 1/21/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House
3 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
- 119-SJRES-3: 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".
- 119-HRES-211: 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 purposes; providing for consideration of the bill (H.R. 1968) making further continuing appropriations and other extensions for the fiscal year ending September 30, 2025, and for other purposes; and for other purposes.
- 119-HRES-212: Returning Senate Joint Resolution 3 to the Senate.
Jeff CrankRepublican · Colorado
Warren DavidsonRepublican · Ohio
Troy DowningRepublican · Montana
Tom EmmerRepublican · Minnesota
David KustoffRepublican · Tennessee
Zachary NunnRepublican · Iowa
Claudia TenneyRepublican · New York
William TimmonsRepublican · South Carolina
Shri ThanedarDemocrat · Michigan