We use analytics tools to understand how people use the site. They're optional: if you decline, the site works the same, no analytics cookies are set and Google gets only a cookieless, anonymous count signal. Your votes are saved either way; the details are in the privacy policy.
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".
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.
SenateMessage received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
House floor actionsPapers returned to Senate pursuant to H. Res. 212
House floor actionsReceived in the House
SenateMessage on Senate action sent to the House.
SenateMotion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
Library of CongressPassed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.
Floor Vote
Passed the Senate
SenateSenate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
Library of CongressIntroduced in Senate
SenateRead twice and referred to the Committee on Finance.
Introduced
Committee
Comments
Comments with insults, hate speech or personal information are removed.
What Congress Said
Members who spoke about this bill on the floor, in their own words from the Congressional Record.
Republicans9 spoke
There has been a lot of talk on both sides of the aisle about supporting cryptocurrency. We now have an opportunity to deliver results for the American people. Earlier this afternoon, we cast the initial vote on moving to proceed to the CRA to repeal this rule.
I urge my colleagues in the Senate to vote yes to overturn and stop this unnecessary rule that is expanding the authority of the Consumer Financial Protection Bureau unnecessarily and despite the intent of Congress. The CFPB's overregulation of nonbank digital consumer payment applications should stop.
The Senate has to work together with the administration, with the Secretary of the Department of Veterans Affairs, veterans service organizations, and the broad veteran community across the country. This resolution divides the Congress and the administration and makes it more difficult for us to find consensus.
Reserving the right to object, IEEPA is a powerful tool that provides the President with a range of authorities to protect our national security. With all the challenges facing our Nation, now is not the time to be limiting Presidential power, and that is exactly what Senator Shaheen's bill would do.
This resolution acknowledges that veterans, who make up less than 7 percent of Americans but approximately 30 percent of public service, have been really disrespected and disserved in just these weeks, with such destructive and repugnant effects on them, on the veterans they serve, and on American values.
I come to the floor today because I am concerned about President Trump's actions to, I believe, start a trade war with our top two trading partners, Canada and Mexico.
There is a Rhode Islander who works for our Veterans Crisis Line. It is the hotline that veterans can call in to when they are having an acute crisis of some kind, perhaps even feeling suicidal. This is not easy work. When that phone goes, you have to be on, and you have to be expert.
And when we can get this bill back on the floor for unanimous consent, I hope it will be met with a resounding bipartisan showing of support, and I look forward to working with her until that day comes to be.
We made a sacred promise to our veterans that after their service, they would get the care and support that they earned. That promise did not come with an expiration date.
Comments
Comments with insults, hate speech or personal information are removed.