This House resolution returns Senate Joint Resolution 3 to the Senate, claiming it violates the Constitution's requirements for how revenue-related bills must originate. Senate Joint Resolution 3 was a measure that would have overturned an Internal Revenue Service rule requiring brokers to report gross proceeds from digital asset sales like cryptocurrency transactions. The House argues that since this resolution deals with tax reporting requirements, it improperly originated in the Senate rather than the House, which the Constitution requires for revenue bills. By returning the resolution, the House is asserting its constitutional privilege to initiate all bills related to raising revenue. This procedural move effectively blocks the Senate's attempt to disapprove the IRS cryptocurrency reporting rule.
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