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119th Congress Taxation

S.J.Res. 3: Disapproval of Internal Revenue Service rule: Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales

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".

Passed SenateMar 4, 2025

  1. Introduced (completed)Jan 21, 2025
  2. Passed Senate (completed)Mar 4, 2025, 70–27
  3. Passed House (not reached)
  4. Differences resolved (not reached)
  5. To the President (not reached)
  6. Became law (not reached)

Summary

Introduced in Senate, Jan 21, 2025

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.

Written by the Congressional Research Service, Library of Congress.

Key votes

House

Not yet voted

Passed the Senate Mar 4, 2025. Awaiting House action.

Senate final vote, Mar 4, 2025

On the Joint Resolution

Passed 70–27

Yea 70majority 49Nay 27

  • Democrats18 yea, 26 nay
  • Republicans51 yea, 0 nay
  • Independents1 yea, 1 nay

Broke with their party: Raphael Warnock (D-GA), Mark Warner (D-VA), Charles Schumer (D-NY), Adam Schiff (D-CA), Brian Schatz (D-HI), Jacky Rosen (D-NV), Alejandro Padilla (D-CA), Jon Ossoff (D-GA), Ben Luján (D-NM) and Angus King (I-ME) voted Yea; and 9 more

See how all 97 members voted

Showing 100 of 100 members

Yea 70

Independents (1) broke with their party

Nay 27

Independents (1)

Not voting 3

Republicans (2)

Democrats (1)

Roll calls

2 votes on this bill

Showing 2 of 2 roll calls

  • Mar 4, 2025SenateOn the Joint ResolutionFinal passagePassed, yea-nay 70–27
    Roll call 102 tally by party
    PartyYeaNayPresentNot voting
    Democrats182601
    Republicans51002
    Independents1100
    Total702703

    Senate roll call 102: On the Joint Resolution. Joint Resolution Passed.

    19 crossed party lines: 18 Democrats, 1 Independent

    How each member voted (100)
  • Mar 4, 2025SenateMotion to proceedPassed, yea-nay 70–28
    Roll call 101 tally by party
    PartyYeaNayPresentNot voting
    Democrats172701
    Republicans52001
    Independents1100
    Total702802

    Senate roll call 101: On the Motion to Proceed. Motion to Proceed Agreed to.

    18 crossed party lines: 17 Democrats, 1 Independent

    How each member voted (100)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

14

Who scored on this bill

332 points earned
  1. 1Ted Cruz R-TX SponsorIntroduced, discharged, passed Senate3 events+54
  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 Ted Cruz

History

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