S.J.Res. 3Senate119th Congress (2025-2027)Passed Senate

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 by Ted CruzSen. Ted Cruz (R-TX)
Introduced January 21, 2025

AI-Generated Summary

Updated November 24, 2025 at 3:26 AM UTC

This joint resolution uses the congressional‑disapproval authority to reject an IRS regulation that would require brokers who frequently facilitate digital‑asset sales to report the total proceeds of those sales. By passing the resolution, Congress ensures the rule cannot be enforced, affecting the IRS, brokerage firms, and anyone involved in digital‑asset transactions.

Key Provisions

  • Congress formally disapproves the IRS rule on gross proceeds reporting for brokers that regularly handle digital‑asset sales.
  • The disapproval means the rule (published Dec. 30, 2024) will have no legal force or effect.

Legislative Activity

Stay on top of the latest movement without scrolling through every action

11 earlier actions
SenateFloor Latest Action

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

March 12, 2025

View full timeline
SenateIntro Referral

Introduced in Senate

January 21, 2025

SenateIntro Referral

Read twice and referred to the Committee on Finance.

January 21, 2025

SenateCommittee

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

February 12, 2025

SenateCalendars

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

February 12, 2025

SenateFloor

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

March 4, 2025

SenateFloor

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

March 4, 2025

SenateFloor

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

March 4, 2025

SenateFloor

Message on Senate action sent to the House.

March 6, 2025

HouseFloor

Received in the House

March 10, 2025 • 6:30 PM

HouseFloor

Held at the Desk

March 10, 2025 • 6:41 PM

HouseFloor

Papers returned to Senate pursuant to H. Res. 212

March 11, 2025 • 2:15 PM

SenateFloor

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

March 12, 2025

Floor Debate

23 members

What members said about S.J.Res. 3 on the floor

11 Republicans12 Democrats
John Kennedy
Sen. John KennedyR-LA · Mar 4, 2025

Mr. President, I want to talk for a few moments about income tax filing season. I realize the Presiding Officer would probably prefer to be condemned to hearing O.J. jokes for the rest of eternity…

Patty Murray
Sen. Patty MurrayD-WA · Mar 4, 2025

Mr. President, no one wants a shutdown--well, actually, no one except Elon Musk, who recently said that sounds great, or Donald Trump or Russ Vought. That is why I have been at the table this entire…

John Cornyn
Sen. John CornynR-TX · Mar 4, 2025

Mr. President, I ask unanimous consent that the following Members be permitted to speak prior to the lunch recess: Myself, for up to 15 minutes; Senator Murray, up to 10 minutes; Senator Cantwell, up…

Richard Blumenthal
Sen. Richard BlumenthalD-CT · Mar 4, 2025

Mr. President, tragically and totally unnecessarily, what we are seeing in real time is an assault on the veterans of America. It is an assault that is part of a campaign by Elon Musk, who has been…

Jeanne Shaheen
Sen. Jeanne ShaheenD-NH · Mar 4, 2025

Madam President, I come to the floor today because I am concerned about President Trump's actions to, I believe, start a trade war with our top two trading partners, Canada and Mexico. All goods…

Show 8 more
Maria Cantwell
Sen. Maria CantwellD-WA · Mar 4, 2025

Mr. President, I rise to speak today on important public policy issues related to my State's economy and appreciate the opportunity to follow our senior Senator, Senator Murray, who is articulating…

Marsha Blackburn
Sen. Marsha BlackburnR-TN · Mar 4, 2025

Mr. President, last November, the American people returned President Donald Trump to the Oval Office with a mandate to restore common sense in government, and in many ways, this common sense was most…

Ted Cruz
Sen. Ted CruzR-TX · Mar 4, 2025

Mr. President, the decentralized finance industry is in its infancy. It is a new technology in the digital asset space which enables two individuals to exchange cryptocurrencies without a third party…

Jack Reed
Sen. Jack ReedD-RI · Mar 4, 2025

Mr. President, on day one, President Trump lit the fuse on Elon Musk's plan to hollow out the Federal Government by changing the name of an obscure technical office within the White House, the U.S.…

Sheldon Whitehouse
Sen. Sheldon WhitehouseD-RI · Mar 4, 2025

Mr. President, first, let me thank Senator Blumenthal for this effort. It really matters. Even if it fails, it matters to our veterans to know that we tried, to know that we did not leave them out…

Elizabeth Warren
Sen. Elizabeth WarrenD-MA · Mar 4, 2025

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, today's vote to proceed on this Congressional Review Act resolution should be renamed the ``Elon…

Eric Schmitt
Sen. Eric SchmittR-MO · Mar 4, 2025

Mr. President, I rise today to argue for a swift and decisive confirmation of Elbridge Colby as Under Secretary of Defense for Policy. It is common today to hear leaders in the foreign policy…

Ron Wyden
Sen. Ron WydenD-OR · Mar 4, 2025

Madam President, my colleague from New Hampshire is being way too logical for some of what passes as trade debate here. And it is my hope that her excellent proposal will be back on this Senate floor…

Show 11 more
Mark Kelly
Sen. Mark KellyD-AZ · Mar 4, 2025

Mr. President, we made a sacred promise to our veterans that after their service, they would get the care and support that they earned. That promise did not come with an expiration date. And as a…

Gary C. Peters
Sen. Gary C. PetersD-MI · Mar 4, 2025

Mr. President, I rise today to speak in opposition to the mass termination of veterans that is taking place all across our Federal Government. I was proud to serve more than a decade in the U.S. Navy…

Christopher Murphy
Sen. Christopher MurphyD-CT · Mar 4, 2025

Mr. President, reserving the right to object, as I understand it, this bill--this resolution seeks to establish an American Girls in Sports Day. Obviously, that sounds like a really good idea until…

Pete Ricketts
Sen. Pete RickettsR-NE · Mar 4, 2025

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, following their election loss, the Biden-Harris administration rushed an eleventh-hour rule…

Jerry Moran
Sen. Jerry MoranR-KS · Mar 4, 2025

Mr. President, reserving the right to object, in my conversations with Kansans, I frequently point to the Senate Committee on Veterans' Affairs as proof that we can still work together, that unity is…

John Thune
Sen. John ThuneR-SD · Mar 3, 2025

Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 10 a.m. on Tuesday, March 4; that following the prayer and pledge, the Journal of…

Tim Scott
Sen. Tim ScottR-SC · Mar 4, 2025

Madam President, reserving the right to object, IEEPA is a powerful tool that provides the President with a range of authorities to protect our national security. With all the challenges facing our…

John Barrasso
Sen. John BarrassoR-WY · Mar 4, 2025

The following Senators are necessarily absent: the Senator from West Virginia (Mr. Justice) and the Senator from Wyoming (Ms. Lummis). Further, if present and voting: the Senator from Wyoming (Ms.…

John Barrasso
Sen. John BarrassoR-WY · Mar 4, 2025

I move to proceed to Calendar No. 11, S.J. Res. 3. I ask for the yeas and nays. The following Senator is necessarily absent: the Senator from Wyoming (Ms. Lummis).

Jason Smith
Rep. Jason SmithR-MO-8 · Mar 11, 2025

Mr. Speaker, I offer a resolution constituting a question of the privileges of the House.

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Mar 4, 2025

I announce that the Senator from Michigan (Ms. Slotkin) is necessarily absent.

Bill Text

3 versions available

Reading Mode
Latest
Engrossed in SenateIssued March 4, 2025

119th CONGRESS

1st Session

S. J. RES. 3

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.

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