PolicySoupstir the potALPHA

H.J. Res. 25 (119th)Bill Overview
Full Analysis

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".

Taxation|Administrative law and regulatory proceduresCongressional oversight
Sponsor
Mike CareyR
Cosponsors
Support
Lean Republican
Introduced
Jan 21, 2025
Discussions
0
Bill Text
View ↗
Current stageLaw

Became Public Law No: 119-5.

Introduced
Committee
Floor
President
Law
Congressional Activities
01 · The brief

<p>This joint resolution nullifies the rule titled <em>Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales</em> 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. <em></em><em></em><em></em><em></em></p>

Passage100/100

This bill has already cleared the legislative process and become law.

CredibilityPartial

How solid the drafting looks.

Contention62/100

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.

02 · What it does
Full Analysis

Who stands to gain, and who may push back.

Who this appears to help vs burden0% / 100%
Likely helpedLikely burdened
Likely helped
  • No clear beneficiaries surfaced yet.
Likely burdened
  • No clear downsides surfaced yet.
03 · Why people split
Full Analysis

Why the argument around this bill splits.

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.
Progressive—

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.

Unclear
Centrist—

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.

Unclear
Conservative—

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.

Unclear
04 · Can it pass?
Full Analysis

The path through Congress.

Introduced

Reached or meaningfully advanced

Committee

Reached or meaningfully advanced

Floor

Reached or meaningfully advanced

President

Reached or meaningfully advanced

Law

Reached or meaningfully advanced

Passage likelihood100/100

This bill has already cleared the legislative process and become law.

Why this could stall
  • The next hurdle is reproducing that support in the other chamber.
05 · Recent votes

Recent votes on the bill.

SENATE · Mar 26, 2025

Motion to Proceed Agreed to (70-28)

70 yes · 28 no

On the Motion to Proceed H.J.Res. 25

Yes 71% No 29%
Against party line
Adam B. Schiff (CA)DD · Yes
Alex Padilla (CA)DD · Yes
Andy Kim (NJ)DD · Yes
Angela D. Alsobrooks (MD)DD · Yes
Adam B. Schiff (CA)DD · Yes
Alex Padilla (CA)DD · Yes
Amy Klobuchar (MN)DD · No
Andy Kim (NJ)DD · Yes
Angela D. Alsobrooks (MD)DD · Yes
Angus King (ME)II · No
Showing a quick cross-section of legislators, with followed members first when available.
06 · Go deeper

Go deeper than the headline read.

Included on this page

The main political fault lines are not fully surfaced yet, so coalition durability is still unclear.

This bill has already cleared the legislative process and become law.

Unlocked analysis

Pro readers get the full perspective split, passage barriers, legislative design review, stakeholder impact map, and lens-based policy tradeoff analysis for Providing for congressional disapproval under chapter 8 of tit…

Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.

Perspective breakdownsPassage barriersLegislative design reviewStakeholder impact map
Open full analysis