S.J.Res. 3 Passed the Senate Taxation

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".

  1. Introduced
  2. Committee
  3. Passed Senate
  4. Passed House
  5. To President
  6. Became law
Sponsor Sen. Cruz, Ted [R-TX] Introduced January 21, 2025 Cosponsors 14 (14 R) Latest action March 12, 2025

Summary

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

  • SenateMar 4, 2025·Roll 102·S.J.Res. 3
    S.J. Res. 3
    On the Joint Resolution S.J.Res. 3
    Joint Resolution Passed70–27
    R 51–0 D 18–26 I 1–1
  • SenateMar 4, 2025·Roll 101·S.J.Res. 3
    Motion to Proceed to S.J. Res. 3
    On the Motion to Proceed S.J.Res. 3
    Motion to Proceed Agreed to70–28
    R 52–0 D 17–27 I 1–1

Actions

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

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