Overturning the IRS Digital Asset Broker Rule

Official title: 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".

What this does

Congress uses the Congressional Review Act to strike down an IRS rule on digital asset sales. The rule, "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales," was published at 89 Fed. Reg. 106928 on December 30, 2024. A yes vote declares that the rule shall have no force or effect. The resolution does nothing else.

Senate vote · 70-28

Democrats17–26

Republicans53–0

Independents0–2

House vote · 292-132

Democrats76–132

Republicans216–0

Independents0–0

How we know · 6 sourced claims

Congress acts under the Congressional Review Act (chapter 8 of title 5, United States Code).Source: Title and resolving clause: "congressional disapproval under chapter 8 of title 5, United States Code" (lines 15-16)
The resolution disapproves a rule submitted by the Internal Revenue Service.Source: Resolving clause: "That Congress disapproves the rule submitted by the Internal Revenue Service" (line 16)
The rule is titled "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales."Source: Resolving clause names the rule verbatim (line 16)
The rule was published at 89 Fed. Reg. 106928 on December 30, 2024.Source: Resolving clause: "(89 Fed. Reg. 106928 (December 30, 2024))" (line 16)
If enacted, the rule shall have no force or effect.Source: Resolving clause: "and such rule shall have no force or effect" (line 16)
The resolution is single-subject, containing one resolving clause and no other sections.Source: Entire operative text is the single resolving clause (line 16); no other sections present

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Your representatives

How did your member vote on this?

Senate roll call

The full roll call

R51–0D17–26I0–2

Position

Party

State

Republicans

Democrats

Independents

House roll call

The House roll

R211–0D74–129I1–0