The US House of Representatives proceeded with the US Infrastructure Bill on the 24th without offering any amendments to the cryptocurrency Tax provision.
The 220-212 party line was a close mark in favor of the House Democrats who are looking to raise the budget from $1 trillion to $3.5 trillion.
The vote would allow Democrats to write and approve a massive spending package without Republicans. However, the process would not allow any amendments from being considered for the infrastructure bill. The measure also requires a floor vote on the infrastructure package by Sept. 27.
Under the cryptocurrency tax clause, the Infrastructure Bill requires brokers to disclose the tax information of users who conduct cryptocurrency transactions. However, the broker definition under the clause includes miners, developers, and node validators who do not have access to user information.
Concerning this provision, lawmakers called for a bipartisan amendment to the bill, but the representatives voted to not make any changes.
Rep. Anna Eshoo had previously pushed for revision on the tax reporting requirements. She said in a statement issued on Tuesday:
“I continue to explore all options to improve the flawed cryptocurrency language in the Senate’s bipartisan infrastructure bill, including through the budget reconciliation process or standalone legislation.”