Budget & Taxes

HRES 1075 is a procedural resolution that enables the House to debate and vote on two specific bills. It allows consideration of H.R. 4626, which would prevent the Energy Secretary from setting new appliance efficiency standards unless they are both technologically possible and economically reasonable for manufacturers. It also enables consideration of H.R. 4758, which would eliminate federal tax subsidies for home electrification projects under Public Law 117-169. This resolution waives objections to debating these bills and sets rules for their floor consideration. The resolution itself does not change policy but facilitates the legislative process for these two bills.

This joint resolution reinstates provisions of District of Columbia (DC) tax law to conform with federal tax law. As background, DC generally automatically adopts changes to federal tax law (known as rolling conformity). Therefore, upon enactment of the 2025 reconciliation act (commonly known as the One Big Beautiful Bill Act), many of its tax provisions became DC law. DC subsequently enacted its own legislation (the DC Income and Franchise Tax Conformity and Revision Temporary Amendment Act of 2025) that decoupled DC tax law from these federal provisions. This joint resolution nullifies the DC legislation, thereby generally realigning DC tax law with the tax provisions of the 2025 reconciliation act. Specifically, the joint resolution reinstates for DC provisions that •    increase the higher basic standard deduction; •    increase deductible charitable cash contributions (for taxpayers who take the standard deduction); •    establish a $6,000 tax deduction for taxpayers 65 years and older; •    allow a tax deduction of qualified tips, qualified overtime pay, and qualified car loan interest; •    authorize an elective 100% depreciation allowance for nonresidential real property; and •    authorize businesses to deduct 100% of research and experimental costs retroactive to tax year 2022. The DC legislation also amended several other provisions of DC tax law, including restoring the DC child tax credit. The joint resolution negates these changes.

This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.