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119th Congress Taxation

H.J.Res. 25: Disapproval of Internal Revenue Service rule: Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales

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".

Became LawPublic Law 119-5, signed Apr 10, 2025

  1. Introduced (completed)Jan 21, 2025
  2. Passed House (completed)Mar 11, 2025, 292–132
  3. Passed Senate (completed)Mar 26, 2025, 70–28
  4. To the President (completed)Apr 1, 2025
  5. Became law (completed)Apr 10, 2025

Summary

Public Law, Apr 10, 2025

This 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.

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, Mar 11, 2025

On Passage

Passed 292–132

Yea 292majority 213Nay 132

  • Democrats76 yea, 132 nay
  • Republicans215 yea, 0 nay
  • Independents1 yea, 0 nay

Broke with their party: George Whitesides (D-CA), Eugene Vindman (D-VA), Gabriel (Gabe) Vasquez (D-NM), Marc Veasey (D-TX), Derek Tran (D-CA), Shri Thanedar (D-MI), Ritchie Torres (D-NY), Lateefah Simon (D-CA), Suhas Subramanyam (D-VA) and Eric Sorensen (D-IL) voted Yea; and 66 more

See how all 425 members voted

Showing 432 of 432 members

Yea 292

Republicans (215)

Democrats (76) broke with their party

Independents (1)

Nay 132

Democrats (132)

Present 1

Democrats (1)

Not voting 7

Republicans (2)

Senate final vote, Mar 26, 2025

On the Joint Resolution

Passed 70–28

Yea 70majority 50Nay 28

  • Democrats17 yea, 26 nay
  • Republicans53 yea, 0 nay
  • Independents0 yea, 2 nay

Broke with their party: Raphael Warnock (D-GA), Mark Warner (D-VA), Elissa Slotkin (D-MI), Charles Schumer (D-NY), Adam Schiff (D-CA), Jacky Rosen (D-NV), Alejandro Padilla (D-CA), Jon Ossoff (D-GA), Ben Luján (D-NM) and Andy Kim (D-NJ) voted Yea; and 7 more

See how all 98 members voted

Showing 100 of 100 members

Yea 70

Republicans (53)

Nay 28

Independents (2)

Not voting 2

Democrats (2)

Roll calls

3 votes on this bill

Showing 3 of 3 roll calls

  • Mar 26, 2025SenateOn the Joint ResolutionFinal passagePassed, yea-nay 70–28
    Roll call 151 tally by party
    PartyYeaNayPresentNot voting
    Democrats172602
    Republicans53000
    Independents0200
    Total702802

    Senate roll call 151: On the Joint Resolution. Joint Resolution Passed.

    17 crossed party lines: 17 Democrats

    How each member voted (100)
  • Mar 26, 2025SenateMotion to proceedPassed, yea-nay 70–28
    Roll call 150 tally by party
    PartyYeaNayPresentNot voting
    Democrats182601
    Republicans52001
    Independents0200
    Total702802

    Senate roll call 150: On the Motion to Proceed. Motion to Proceed Agreed to.

    18 crossed party lines: 18 Democrats

    How each member voted (100)
  • Mar 11, 2025HouseOn PassageFinal passagePassed, yea-nay 292–132
    Roll call 71 tally by party
    PartyYeaNayPresentNot voting
    Democrats7613215
    Republicans215002
    Independents1000
    Total29213217

    House roll call 71: On Passage. Passed.

    76 crossed party lines: 76 Democrats

    How each member voted (432)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

9

Bipartisan support.

Who scored on this bill

870 points earned
  1. 1Mike Carey R-OH SponsorIntroduced, drew cross-party cosponsors, marked up, reported, passed House, passed Senate, became law7 events+168
  2. 2Angela Alsobrooks D-MD2 maverick votes2 events+12
  3. 2Cory Booker D-NJ2 maverick votes2 events+12
  4. 2Catherine Cortez Masto D-NV2 maverick votes2 events+12
  5. 2John Fetterman D-PA2 maverick votes2 events+12
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Mike Carey

History

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