The House of Representatives approved a controversial $ 3.5 trillion budget bill in a vote on the rule on August 24.
This vote succeeded despite the separation of a group of moderate Democrats from President Nancy Pelosi’s blitz to get the “Build Back Better” budget approved. Led by Representative Josh Gottheimer, these representatives sought to review the infrastructure bill ahead of the budget.
With Democrats holding a slim majority in the House, this faction could have been fatal to the rule vote. During late-night negotiations, Pelosi managed to bring the rogue representatives back on board with today’s rule vote by pledging to meet a September 27 deadline to pass the Bill of Rights. infrastructure, which his office released today.
The infrastructure bill has received a huge wave of interest from the crypto community, mainly due to the provisions it contains that could subject participants in the blockchain network to the status of ” brokers ”and, by extension, the IRS reporting requirements.
A rushed process on the Senate version of the infrastructure bill did not allow a typical vote on the amendments. The ultimate efforts to change and erase this reporting language are dead.
Majority Leader Steny Hoyer reminded the House of Representatives of yesterday’s and today’s recess, but the infrastructure bill appears unlikely to be considered in the immediate future. Crypto advocates are hoping interested lawmakers will have the opportunity to amend the House bill.