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![handle is hein.congrecreports/crptxagzi0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
118TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 118-857
SAVING GIG ECONOMY TAXPAYERS ACT
DECEMBER 10, 2024.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. SMITH of Missouri, from the Committee on Ways and Means,
submitted the following
REPORT
together with
DISSENTING VIEWS
[To accompany H.R. 190]
[Including cost estimate of the Congressional Budget Office]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 190) to amend the Internal Revenue Code of 1986 to rein-
state the exception for de minimis payments by third party settle-
ment organizations with respect to returns relating to payments
made in settlement of payment card and third party network trans-
actions, as in effect prior to the enactment of the American Rescue
Plan Act, having considered the same, reports favorably thereon
with an amendment and recommends that the bill as amended do
pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ............................................................... 2
A. Purpose and Sum m ary ..................................................................... 2
B. Background and Need for Legislation .................... 2
C. Legislative H istory ........................................................................... . 3
D . D esignated H earing .......................................................................... 4
II. EXPLANATION OF THE BILL ............................................................... 4
A. Reinstatement of Exception for De Minimis Payments as in
Effect Prior to Enactment of American Rescue Plan Act (sec.
2 of the bill and sec. 6050W(e) of the Code) ................ 4
III. VOTE OF THE COM M ITTEE ..................................................................... 9
IV. BUDGET EFFECTS OF THE BILL ............................................................ 9
A. Committee Estimate of Budgetary Effects .................. 9
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