United States of America: Budget reconciliation Bill 2025 (One Big Beautiful Bill Act/HR 1) including amendments to section 70432 restoring reporting thresholds for third party payment networks was passed by Senate
Description
Budget reconciliation Bill 2025 (One Big Beautiful Bill Act/HR 1) including amendments to section 70432 restoring reporting thresholds for third party payment networks was passed by Senate
On 1 July 2025, the Senate passed amendments in section 70432 of H.R.1, titled the Budget Reconciliation Bill 2025/One Big Beautiful Bill Act. The amendments repeal the revision to the de minimis rules for third-party network transactions enacted un…
Scope
Policy Area
Taxation
Policy Instrument
Taxation, nes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), platform intermediary: e-commerce, platform intermediary: other
Implementation Level
national
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
Hide details
2025-05-20
under deliberation
2025-07-01
under deliberation
2025-07-03
adopted