H.R. 6006 · 117th Congress
Keep Innovation in America Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
McHenrySponsor19 cosponsors · 5 D, 14 R
R
Brady
TB
R
Budd
WD
R
Davidson
TE
R
Emmer
AG
R
Gonzalez
RK
D
Khanna
TR
D
Ryan
ES
D
Swalwell
DS
D
Soto
MB
R
Bost
DS
R
Schweikert
BD
R
Donalds
JA
D
Auchincloss
JH
R
Hill
WT
R
Timmons
BS
R
Steil
GM
R
Murphy
JW
R
Walorski
DJ
R
Joyce9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies provisions enacted by the Infrastructure Investment and Jobs Act relating to the definitions of broker and digital assets and their reporting requirements.
What it does: CRS summary · Introduced in House · Nov 17, 2021
Keep Innovation in America Act
This bill modifies provisions enacted by the Infrastructure Investment and Jobs Act relating to the definitions of broker and digital assets and their reporting requirements.
The bill redefines broker, for tax reporting purposes, to mean any person who (for consideration) stands ready in the ordinary course of business to effect sales of digital assets at the direction of their customers.
The bill redefines digital asset to mean any digital representation of value which is recorded on a cryptographically secured distribution ledger (this revised definition eliminates the discretion of the Department of the Treasury to include similar technology in the definition of digital asset).
The bill eliminates the cash reporting requirement for digital assets (i.e., receipt of more than $10,000) but requires Treasury to conduct a study of, and report on, the effect of expanding the definition of cash to include any digital asset.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keep Innovation in America Act
Latest action (Nov 17, 2021): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 17, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.