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".
Sponsor
Full profile: /officials/C001126
Source: Congress.gov · FEC
Cosponsors (9)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
- Tom Emmer (R-MN-6)· 2025-01-28
- Warren Davidson (R-OH-8)· 2025-01-28
- Jeff Crank (R-CO-5)· 2025-02-04
- Claudia Tenney (R-NY-24)· 2025-02-07
- David Kustoff (R-TN-8)· 2025-02-24
- Shri Thanedar (D-MI-13)· 2025-02-24
- Zachary Nunn (R-IA-3)· 2025-02-24
- William R. Timmons IV (R-SC-4)· 2025-02-25
- Troy Downing (R-MT-2)· 2025-02-27
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Plain-English Summary
Congress rejected a new IRS rule that would have required brokers and payment processors to report detailed information about digital asset (cryptocurrency) transactions to the tax agency. The rule would have expanded tax reporting requirements for companies that handle crypto sales, potentially affecting millions of Americans who buy and sell digital currencies. By blocking this rule, Congress prevented the IRS from implementing stricter tracking of these transactions.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Affected Industries
Industries and interest groups with a stake in how this bill is resolved. Compare with each member's outside-money backers on their finance page.
Why this matters: Look up any member who voted on this bill and check their finance page — do the industries listed above match the groups funding their campaigns? That's the kind of connection this tool is built to help you find.
How Congress Voted
Roll Call #66
PassedParty-Line Vote2025-03-11 · HouseOn Ordering the Previous Question
Providing for consideration of the joint resolution (H.J. Res. 25); providing for consideration of the bill (H.R. 1156); providing for consideration of the bill (H.R. 1968); and for other purposes.
YES voters received 1.8x more from Crypto & Digital Assets than NO voters. 422 YES voters had no recorded industry money.
Source: FEC filings. Correlation between donations and votes does not prove causation. Members receive money from many industries; these figures show only industries affected by this bill.
Sponsor's connection: Mike Carey (R-OH) has no recorded contributions from affected industries and voted Yes.
Top Industry-Funded “Yes” Voters (4)
Top Industry-Funded “No” Voters (2)
Broke With Party (3)
Committee Members Who Voted (832)
Full Vote Breakdown (426 members)
Not Voting / Present (3)
Roll Call #67
PassedParty-Line Vote2025-03-11 · HouseOn Agreeing to the Resolution
Providing for consideration of the joint resolution (H.J. Res. 25); providing for consideration of the bill (H.R. 1156); providing for consideration of the bill (H.R. 1968); and for other purposes.
YES voters received 1.8x more from Crypto & Digital Assets than NO voters. 422 YES voters had no recorded industry money.
Source: FEC filings. Correlation between donations and votes does not prove causation. Members receive money from many industries; these figures show only industries affected by this bill.
Sponsor's connection: Mike Carey (R-OH) has no recorded contributions from affected industries and voted Yes.
Top Industry-Funded “Yes” Voters (4)
Top Industry-Funded “No” Voters (2)
Broke With Party (3)
Committee Members Who Voted (832)
Full Vote Breakdown (426 members)
Not Voting / Present (1)
Who Funded the Votes?
Campaign-finance totals by industry, sourced from FEC filings, joined to vote positions from Congress.gov.
Who Funded the Votes?
Total campaign dollars received by members voting Yes vs No, grouped by industry sector.
Subjects
Full Bill Text
Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.
[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.J. Res. 25 Enrolled Bill (ENR)] H.J.Res.25 One Hundred Nineteenth Congress of the United States of America AT THE FIRST SESSION Begun and held at the City of Washington on Friday, the third day of January, two thousand and twenty-five 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''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Internal Revenue Service relating to ``Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales'' (89 Fed. Reg. 106928 (December 30, 2024)), and such rule shall have no force or effect. Speaker of the House of Representatives. Vice President of the United States and President of the Senate.
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