Rep. Horsford Pitches PARITY Act as Crypto Tax Floor at Consensus Miami
Representative Steven Horsford, a Nevada Democrat, told the Consensus Miami audience on May 5 that the PARITY Act represents a “durable floor” for cryptocurrency tax reform. He said incremental, bipartisan progress is the only viable path forward as Senate negotiations on the CLARITY Act have stalled.
The remarks mark the clearest congressional endorsement of the PARITY Act in the 2026 legislative session.
What Horsford Said
Horsford made the comments in a conversation with Vanderbilt Law Professor Yesha Yadav, according to a CoinDesk report published May 5. He framed the PARITY Act as a starting point rather than a ceiling, and said that waiting for a comprehensive bill risks losing momentum built over the past two years of legislative outreach.
Horsford did not give a specific timeline for a floor vote.
The PARITY Act, introduced in the House, would extend the same tax treatment afforded to certain traditional financial instruments to cryptocurrency transactions. Under current law, every crypto-to-crypto swap is a taxable event, a rule critics say discourages on-chain activity and pushes volume to offshore venues.
Also Read: American Innovation Project Adds Crypto and Mining Policy Fellows in D.C.
Push
Background
The CLARITY Act has been the centerpiece of Senate cryptocurrency legislation through early 2026, aiming to establish a comprehensive framework for digital asset classification. Negotiations slowed in April after disagreements over which assets qualify as securities versus commodities.
The stall has pushed House members to advance narrower bills that could attract bipartisan support without requiring a full Senate compromise. Horsford has positioned himself as a bridge figure, citing constituent pressure from technology workers in Nevada’s congressional district.
Also Read: Trump Administration Moves to Test AI Models Before Public Release
What Comes Next
The PARITY Act still requires a committee vote before reaching the House floor.
Horsford’s public push at a major industry conference signals an attempt to build outside pressure on colleagues who have been slow to schedule a markup. Observers will watch whether the remarks prompt any response from Senate Finance Committee members who have been the main obstacle to the CLARITY Act’s advance.
Any movement in committee before the August recess would be a meaningful shift.
Read Next: Arthur Hayes Says Cryptocurrency Derives Value From Being Outside Regulatory Apparatus
