House Prepares for Vote on IRS Crypto Exchange Rule Overhaul
The House of Representatives is holding a busy session with key votes on two significant bills:
- The spending stopgap bill proposes a $6 billion increase in defense spending while cutting non-defense spending by $13 billion. The deadline for this funding bill is Friday.
- The Congressional Review Act (CRA) aims to roll back the IRS’ crypto exchange rule and is set for a floor vote this afternoon.
House Republicans revealed their spending plan over the weekend, but there is dissent within the party. Rep. Thomas Massie plans to vote no, while Reps. Cory Mills and Tim Burchett remain undecided.
Speaker Mike Johnson requires full support from Republican members and some Democratic votes to pass the measures.
Debate on the CRA began at noon today, but a vote has not yet occurred as of 2 PM ET. The outcome may influence other pending legislation.