Two cryptocurrency tax bills, H.R. 9175 and H.R. 9172, could face a House Ways and Means Committee markup on Sept. 16, though the schedule remains unconfirmed. H.R. 9175 would allow miners and stakers to defer income recognition on rewards until sale, with deferred gains taxed as ordinary income, costing $2.956 billion over ten years. H.R. 9172 would apply wash-sale and constructive-sale rules to most digital assets, raising $2.074 billion. Punchbowl News reported that Republicans are considering dropping major provisions on taxing mining and staking rewards from the package.
Representatives Mike Carey and Jodey Arrington introduced H.R. 9175 and H.R. 9172 on June 8. Both bills were referred to the House Ways and Means Committee, which examined them at a hearing on digital asset taxation.
H.R. 9175, the Tax Clarity for Mining and Staking Act, would treat new tokens from mining or staking as ordinary income when received. Taxpayers could instead defer recognition until the token is sold, with the deferred gain still taxed as ordinary income. The Joint Committee on Taxation estimated the bill would reduce federal revenue by $2.956 billion from fiscal 2026 through 2036. A Democratic proposal to limit the deferral to five years is not included in the draft.
H.R. 9172 would extend wash-sale rules under Section 1091 to most digital assets. Losses on a disposal would be disallowed if substantially identical property is bought within 30 days. Qualified U.S. dollar-denominated stablecoins are exempted, as are some mining and staking acquisitions. The bill also applies constructive-sale rules from Section 1259, requiring recognition when a transaction eliminates most economic risk. The Joint Committee on Taxation scored the bill as raising $2.074 billion over the same period.
Punchbowl News reported that House Ways and Means Committee Republicans are “strongly considering dropping major provisions on taxing mining and staking rewards from the crypto package they’re marking up Wednesday, according to multiple sources familiar with the plans.” The committee has not yet published a Sept. 16 markup on its official schedule. If the panel advances the bills, they still require passage by the full House, Senate approval, and presidential signature to become law.
