2025: Fitzpatrick Voted To Disapprove An IRS Rule That Established
Reporting Requirements For Digital Asset Proceeds And To Effectively
Block Votes On The Reversal Of Trump's Tariffs. In March 205,
Fitzpatrick voted for , "the bill that would provide for Congressional
disapproval of, and nullify, a December 2024 IRS rule related to gross
proceeds reporting by brokers involved in digital asset sales. The rule
imposed reporting requirements, beginning in 2027, on non-custodial
barkers who participate in the decentralized digital asset market. It
also required brokers to file information returns and provide payee
statements reporting gross proceeds from certain digital asset sales and
transactions." The vote was on passage. The House passed the bill by a
vote of 292 to 132. [House Vote 71,
3/11/25; Congressional
Quarterly, 3/11/25;
Congressional Actions, H.J. Res.
25]
The Bill Effectively Blocked The House From Voting To Reverse
Trump's Tariffs On Mexico, Canada, And China For The Next Year.
According to the New York Times, "Republican leaders on Tuesday
slipped language into a procedural measure that would prevent any
resolution to end the tariffs on Mexico, Canada and China from
receiving a vote this year. It passed on party lines as part of a
resolution that cleared the way for a vote later Tuesday on a
government spending bill needed to prevent a shutdown at the end of
the week." [New York Times,
3/11/25]
The Bill Nullified A Law That Would Allow The House And Senate To
End A Disaster Declared By The President. According to the New
York Times, "In this case, Republican leaders did so using a
particularly unusual contortion: They essentially declared the rest
of the year one long day, nullifying a law that allows the House and
Senate to jointly put an end to a disaster declared by the
president." [New York Times,
3/11/25]
Democrats Previously Planned To Force Votes On The Tariffs Under
The National Emergencies Act. According to the New York Times,
"House Democrats had planned to force a vote on resolutions to end
the tariffs on Mexico and Canada, a move allowed under the National
Emergencies Act, which provides a mechanism for Congress to
terminate an emergency like the one Mr. Trump declared when he
imposed the tariffs on Feb. 1. That would have forced Republicans
--- many of whom are opposed to tariffs as a matter of principle ---
to go on the record on the issue at a time when Mr. Trump's
commitment to tariffs has spooked the financial markets and spiked
concerns of reigniting inflation." [New York Times,
3/11/25]
The National Emergencies Act Required Consideration Of Resolutions
Ending A Presidentially Declared Emergency Within Fifteen Calendar
Days But Republican Leadership Included A Measure In The Bill
Declaring The Rest Of The Year Did Not Constitute A Calendar Day.
According to the New York Times, "The national emergency law lays
out a fast-track process for Congress to consider a resolution
ending a presidential emergency, requiring committee consideration
within 15 calendar days after one is introduced and a floor vote
within three days after that. But the language House Republicans
inserted in their measure on Tuesday declared that, 'Each day for
the remainder of the 119th Congress shall not constitute a calendar
day' for the purposes of the emergency that Mr. Trump declared on
Feb. 1." [New York Times,
3/11/25]