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".

S.J.Res. 3 · 119th Congress (2025-2026)

100%

15 members · Left 0 · Center 0 · Right 15 (Bill Ranking)

Sponsor	Sen. Cruz, Ted (R-TX) (Introduced 01/21/2025)
Sponsor Voting Record	Right · DW-NOMINATE +0.78 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking)
Support	LLLCLRR support across the spectrum: 15 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once
Committees	Senate - Finance Committee; Senate - Finance Committee
Latest Action	03/12/2025 Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Roll Call Votes	2
Source	view on congress.gov →

IntroducedPassed HousePassed SenateResolving DifferencesTo PresidentBecame Law

Summary (1)

Introduced in Senate (01/21/2025)

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.

Text (3)

Engrossed in Senate (ES)

119 SJ 3 ES: 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”. U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS1st SessionS. J. RES. 3IN THE SENATE OF THE UNITED STATESJOINT RESOLUTIONProviding 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.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.Passed the Senate March 4, 2025.Secretary

Introduced in Senate (IS)

119 SJ 3 IS: 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”. U.S. Senate 2025-01-21 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IIA119th CONGRESS1st SessionS. J. RES. 3IN THE SENATE OF THE UNITED STATESJanuary 21, 2025Mr. Cruz (for himself, Ms. Lummis, Mr. Hagerty, Mr. Tillis, Mr. Sheehy, and Mr. Budd) introduced the following joint resolution; which was read twice and referred to the Committee on FinanceJOINT RESOLUTIONProviding 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.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.

Placed on Calendar Senate (PCS)

119 SJ 3 PCS: 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”. U.S. Senate 2025-02-12 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IIACalendar No. 11119th CONGRESS1st SessionS. J. RES. 3IN THE SENATE OF THE UNITED STATESJanuary 21, 2025Mr. Cruz (for himself, Ms. Lummis, Mr. Hagerty, Mr. Tillis, Mr. Sheehy, Mr. Budd, Mr. Moreno, Mr. Curtis, Mr. Cotton, Mr. Lee, Mr. Banks, Mr. Daines, and Mrs. Blackburn) introduced the following joint resolution; which was read twice and referred to the Committee on FinanceFebruary 12, 2025Committee discharged, by petition, pursuant to 5 U.S.C. 802(c), and placed on the calendar

JOINT RESOLUTIONProviding 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.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.February 12, 2025Committee discharged, by petition, pursuant to 5 U.S.C. 802(c), and placed on the calendar

The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.

All Actions (14)

Date	Chamber	All Actions
01/21/2025	Library of Congress	Introduced in Senate
01/21/2025	Senate	Read twice and referred to the Committee on Finance.
02/12/2025	Library of Congress	Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
02/12/2025	Senate	Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
02/12/2025	Senate	Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
03/04/2025	Senate	Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
03/04/2025	Senate	Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
03/04/2025	Library of Congress	Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.
03/04/2025	Senate	Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
03/06/2025	Senate	Message on Senate action sent to the House.
03/10/2025	House floor actions	Received in the House
03/10/2025	House floor actions	Held at the Desk
03/11/2025	House floor actions	Papers returned to Senate pursuant to H. Res. 212
03/12/2025	Senate	Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

Titles (2)

Title Type	Title
Official Title as 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".
Display Title	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".

Amendments (0)

There are no amendments to this bill.

Cosponsors (14)

Sen. Budd, Ted [R-NC]* — 01/21/2025 — Right (Sponsor Ranking)
Sen. Hagerty, Bill [R-TN]* — 01/21/2025 — Right (Sponsor Ranking)
Sen. Lummis, Cynthia M. [R-WY]* — 01/21/2025 — Right (Sponsor Ranking)
Sen. Sheehy, Tim [R-MT]* — 01/21/2025 — Right (Sponsor Ranking)
Sen. Tillis, Thomas [R-NC]* — 01/21/2025 — Lean right (Sponsor Ranking)
Sen. Moreno, Bernie [R-OH] — 01/24/2025 — Right (Sponsor Ranking)
Sen. Cotton, Tom [R-AR] — 01/28/2025 — Right (Sponsor Ranking)
Sen. Curtis, John R. [R-UT] — 01/28/2025 — Lean right (Sponsor Ranking)
Sen. Lee, Mike [R-UT] — 01/28/2025 — Right (Sponsor Ranking)
Sen. Banks, Jim [R-IN] — 02/03/2025 — Right (Sponsor Ranking)
Sen. Daines, Steve [R-MT] — 02/04/2025 — Right (Sponsor Ranking)
Sen. Blackburn, Marsha [R-TN] — 02/10/2025 — Right (Sponsor Ranking)
Sen. Scott, Tim [R-SC] — 02/20/2025 — Right (Sponsor Ranking)
Sen. McCormick, David [R-PA] — 03/04/2025 — Right (Sponsor Ranking)

* = Original cosponsor

Committees (2)

Committee	Activity
Senate - Finance Committee	02/12/2025 Discharged From
Senate - Finance Committee	01/21/2025 Referred To

Related Bills (2)

H.J.Res. 25 — 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". (Related bill; Contained in public law)
H.Res. 212 — Returning Senate Joint Resolution 3 to the Senate. (Related bill)

Subjects (7)

Policy Area: Taxation

Administrative law and regulatory procedures
Congressional oversight
Currency
Digital media
Financial services and investments
Internal Revenue Service (IRS)
Tax administration and collection, taxpayers

All data on this page comes from our own database (legislation.congress_* tables), synced daily from the GPO govinfo BILLSTATUS and BILLS collections. Formatted after congress.gov; nothing is generated. Member placement is their DW-NOMINATE score (voteview.com, Lewis et al.) - a measurement of roll-call voting behavior, not our judgement. Buckets: Left below −0.50 · Lean Left to −0.25 · Center to +0.25 · Lean Right to +0.50 · Right above +0.50. The bill's Support meter aggregates the people who signed the bill - sponsor and current cosponsors, each counted once - nothing else.