This bill outlines the procedures for the House of Representatives to consider resolutions and bills related to IRS digital asset reporting rules, CARES Act unemployment fraud, government appropriations, and the extension of the national emergency declared on February 1, 2025.
Michelle Fischbach
Representative
MN-7
This bill outlines the procedures for the House of Representatives to consider resolutions and bills related to IRS digital asset regulations, CARES Act amendments regarding unemployment fraud, and continuing appropriations for fiscal year 2025. It establishes debate times, waives certain points of order to expedite the process, and includes provisions for amendments and motions. Additionally, it exempts certain days from being counted towards the consideration of a joint resolution related to the national emergency declared on February 1, 2025.
| Party | Total Votes | Yes | No | Did Not Vote |
|---|---|---|---|---|
Republican | 218 | 216 | 1 | 1 |
Democrat | 214 | 0 | 213 | 1 |
House Sets Rules for Debating IRS Crypto Reporting, Unemployment Fraud, and More
This resolution lays out the procedural groundwork for the House of Representatives to tackle a few key pieces of legislation. Think of it as setting the agenda and ground rules before the main events. Here's the breakdown:
IRS Rule on Digital Assets
The House is gearing up to debate and vote on a resolution (H.J. Res. 25) that aims to block a new IRS rule about how brokers report earnings from digital asset sales, like cryptocurrency. The resolution gets a fast-track: debate is capped at one hour, split evenly between those for and against it. This impacts anyone involved in crypto trading and reporting, potentially affecting how gains are tracked and taxed.
CARES Act and Unemployment Fraud
Next up is H.R. 1156. This bill looks to extend the amount of time authorities have to go after fraud in certain unemployment programs set up under the CARES Act. The resolution speeds this bill through by adopting a key amendment off the bat and limiting debate, again to one hour. For anyone who's dealt with unemployment benefits—or is concerned about misuse of those funds—this one's relevant. It basically gives the government more time to catch and prosecute fraud.
Keeping the Lights On: Appropriations
Then there's H.R. 1968, a bill to keep government funding flowing through September 30, 2025. This resolution sets up the debate and final vote on the bill. It's crucial for avoiding government shutdowns and ensuring agencies can keep operating. It affects, well, everyone, since it touches every part of government operations.
National Emergencies Act Tweak
Finally, there's a provision that deals with the National Emergencies Act. It essentially pauses the clock on a specific national emergency declared on February 1, 2025, for the rest of this congressional session. This could affect how long certain emergency powers remain in effect, but the direct impact isn't immediately clear without more context on that specific emergency.
The Bottom Line
This resolution is all about process—setting the stage for debates and votes on some pretty significant issues. While it's mostly procedural, the way these debates are structured and timed can influence the outcomes. It's like deciding how much time teams get to make their case in a championship game – the rules matter.