A group of House Democrats blocked any future amendments to the current infrastructure bill.
This is major blow to many cryptocurrency lobbyists who were advocating for the infrastructure bill to be amended in order to get rid of the hidden cryptocurrency tax that was buried deep inside the controversial bill.
The House Rules Committee officially declared in a meeting that no amendments will be considered for the infrastructure bill in the near future and it was followed up by a 220 to 212 vote that would see no changes to the infrastructure bill until the House votes on it on September 27th.
All hope isn’t lost though, some lawmakers are trying to find a way to revise the cryptocurrency tax in the bill before it hits the floor on September 27th.
The House seems set to vote on the bipartisan infrastructure bill without any amendments on Sept. 27, despite industry and lawmaker support for changing the crypto tax provision.@cheyenneligon reportshttps://t.co/yOmfnAL1J0
— CoinDesk (@CoinDesk) August 24, 2021
House Rules Committee meeting at this hour on the ground rules for this week's legislative work on the floor. One note – no amendments will be allowed. Infrastructure is included, but the plan is not to vote on the bill until maybe late September.https://t.co/iLvm2VZnR9 pic.twitter.com/0krdCaJN9v
— Jamie Dupree (@jamiedupree) August 23, 2021
Yahoo News covered the breaking news:
House Democrats on Tuesday blocked attempts to scale back digital currency tax rules tucked into President Joe Biden’s infrastructure plan, in a new setback for crypto industry advocates fighting the proposal.
The House Rules Committee, which drafts the terms of debate for bills headed to the floor, agreed to a process that would prohibit any amendments from being considered for the infrastructure bill. The full House voted 220-212 to lock in the procedure through a resolution approved on Tuesday afternoon. The plan also sets up a floor vote on the infrastructure package by Sept. 27.
The House closed the door to infrastructure bill changes despite calls from Democrats and Republicans to pare back the cryptocurrency tax proposal that the Senate passed as part of the legislation earlier this month.
The $1 trillion infrastructure bill will be put to a vote by Sep. 27 without amendments to its controversial crypto provisions … but a glimmer of hope has been raised by a Treasury official. https://t.co/kLy0LluJay
— cryptotothemoon (@cryptotothemoo1) August 25, 2021
Coin Telegraph got the scoop too:
The controversial $1 trillion infrastructure bill will see a vote in the U.S. House of Representatives without any amendments to the crypto tax provisions by Sept. 27.
The vote was agreed to after the House narrowly approved the Democrats’ $3.5 trillion budget blueprint in a vote of 220 to 212. Despite some initial pushback from moderate Democrats, the dissident voters were swayed after House Speaker Nancy Pelosi committed to pass the bill before Sept. 27. Pelosi stated:
In late July, last-minute cryptocurrency provisions were added to the infrastructure bill in a bid to raise a further $28 billion through expanded tax obligations for the crypto sector.
As a constituent @RepAdamSchiff, I urge you to publicly support fixing the bad cryptocurrency provision in the infrastructure bill and be on the right side of the https://t.co/LrbB34MpCL scorecard. #DontKillCrypto via @FightForTheFtr
— Chad Weinman (@cweinman) August 25, 2021
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