Rep. Steven Horsford (D-NV) pitched the PARITY Act this week as a 'durable floor' for crypto tax regulation. The move comes as Senate negotiations on the CLARITY Act remain stalled. Horsford emphasized incremental, bipartisan reform is the only viable path for crypto tax legislation in 2026.
‘Durable Floor’ Pitch
Horsford presented the PARITY Act as a baseline for long-term crypto tax certainty. He sees it as a starting point that won’t require constant rewrites. The legislation aims to create stable reporting rules for digital assets. It’s not a full rewrite but a set of core principles. This approach addresses industry complaints about shifting regulations. Crypto firms have struggled with inconsistent tax guidance for years. Horsford believes this foundation will gain support from both parties. His office confirmed the bill targets specific pain points in current law.
Senate Stalemate
Senate talks on the CLARITY Act have frozen with no movement this month. Negotiations that began early in 2026 now sit untouched. There’s no indication when discussions might resume. The stall comes despite repeated industry requests for clarity. This leaves key tax questions unresolved for businesses. Lawmakers haven’t publicly addressed the impasse. Stakeholders say another year of uncertainty is untenable. The delay means no updated rules will take effect before 2027.
Bipartisan Reality Check
Horsford stressed only gradual changes with cross-aisle backing will survive 2026’s political landscape. He doesn’t expect sweeping reforms this cycle. His team says the PARITY Act avoids partisan traps by focusing on technical fixes. This approach has drawn cautious interest from some Senate moderates. But no Republican cosponsors have stepped forward yet. The timing isn’t great with Congress entering summer recess soon. Industry groups are now watching for House committee action on the proposal.
