[Congressional Record Volume 171, Number 112 (Saturday, June 28, 2025)]
[Senate]
[Page S4001]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2518. Mr. PETERS submitted an amendment intended to be proposed to 
amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill 
H.R. 1, to provide for reconciliation pursuant to title II of H. Con. 
Res. 14; which was ordered to lie on the table; as follows:

       At the appropriate place in chapter 6 of subtitle A of 
     title VIII, insert the following:

     SEC. _____. TRANSACTION TAX.

       (a) In General.--Chapter 36 is amended by inserting after 
     subchapter B the following new subchapter:

     ``Subchapter C--Tax on Certain Digital Asset Transaction Fees

``Sec. 4475. Tax on certain digital asset transaction fees.

     ``SEC. 4475. TAX ON CERTAIN DIGITAL ASSET TRANSACTION FEES.

       ``(a) Imposition of Tax.--There is hereby imposed a tax on 
     any covered transaction fee with respect to any digital 
     asset.
       ``(b) Rate of Tax.--The tax imposed under subsection (a) 
     with respect to any covered transaction shall be 25 percent 
     of the transaction fee.
       ``(c) Covered Transaction Fee.--For purposes of this 
     section--
       ``(1) In general.--The term `covered transaction fee' means 
     a fee assessed on the purchase of a digital asset if such fee 
     is assessed by an applicable entity.
       ``(2) Applicable entity.--
       ``(A) In general.--The term `applicable entity' means any 
     entity in which a Federal official directly or indirectly 
     holds a controlling interest.
       ``(B) Federal official.--The term `Federal official' means 
     any individual who occupies a position in any agency or 
     instrumentality of the executive, legislative, or judicial 
     branch of the Federal Government.
       ``(C) Controlling interest.--The term `controlling 
     interest' means owning, controlling, or holding not less than 
     20 percent, by vote or value, of the outstanding amount of 
     any class of equity interest in an entity.
       ``(d) Digital Asset.--For purposes of this section, the 
     term `digital asset' has the meaning given such term under 
     section 6045(g)(3)(D).
       ``(e) By Whom Paid.--The tax imposed by this section shall 
     be paid by the applicable entity.
       ``(f) Regulations and Guidance.--The Secretary shall 
     prescribe such regulations as are necessary or appropriate to 
     carry out the purposes of this section.''.
       (b) Conforming Amendment.--The table of subchapters for 
     chapter 36 of such Code is amended by inserting after the 
     item relating to subchapter B the following new item:

    ``subchapter c--tax on certain digital asset transaction fees''.

       (c) Effective Date.--The amendments made by this section 
     shall apply to transactions after December 31, 2025.
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