S.J.Res. 3

119th Congress

Introduced

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".

Sponsored byRepublican:Sen. Cruz, Ted [R-TX]TX· Introduced 21 January 2025

14

Cosponsors

14

Actions

0

Amendments

1

Committees

Since introduced

Introduced
Committee
Passed Chamber
Passed Both
Enacted
Step 0 of 0
Latest action

Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

12 March 2025·1 year ago

Summary

Introduced in Senate · Updated 6 March 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.

Timeline

14 actions

  1. Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

    12 March 2025 · Floor

  2. Papers returned to Senate pursuant to H. Res. 212

    11 March 2025 · Floor

  3. Received in the House

    10 March 2025 · Floor

  4. Held at the Desk

    10 March 2025 · Floor

  5. Message on Senate action sent to the House.

    6 March 2025 · Floor

  6. Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)

    4 March 2025 · Floor

  7. Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)

    4 March 2025 · Floor

  8. Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)

    4 March 2025 · Floor

  9. Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.

    4 March 2025 · Floor

  10. Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).

    12 February 2025 · Committee

  11. Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.

    12 February 2025 · Calendars

  12. Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).

    12 February 2025 · Discharge

  13. Read twice and referred to the Committee on Finance.

    21 January 2025 · IntroReferral

  14. Introduced in Senate

    21 January 2025 · IntroReferral

Sponsorship

14 cosponsors

Sponsor

Republican:Sen. Cruz, Ted [R-TX]TX

Cosponsors

  • Republican14100%

Classification

Policy area

Taxation

Legislative subjects

Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers

Committees

1

  • Finance Committee

    Senate · Standing

    • Referred To21 Jan 2025
    • Discharged From12 Feb 2025

Cosponsor momentum

Cumulative over time

Cosponsors grew from 5 on 21 January 2025 to 14 on 4 March 2025.

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