Horsford pitches PARITY Act as a 'durable floor' for crypto tax — not a final answer.

Rep. Steven Horsford told Consensus Miami on Tuesday that his bipartisan PARITY Act is deliberately narrow: a stable foundation for crypto tax treatment rather than a sweeping overhaul. The bill's headline provisions include a stablecoin-payments cost-basis test, a five-year tax-deferral election on staking and mining rewards, and an extension of wash-sale rules to digital assets.

Horsford, who co-authored the discussion draft with Republican Rep. Max Miller in December and revised it in March, argued that comprehensive bills risk pairing useful provisions with overly broad definitional language that creates new problems. He was candid that Senate negotiations on the CLARITY Act between Senators Tillis and Alsobrooks appear to be "on hold," slowing the wider market-structure framework.

On timing, Horsford declined to commit to a pre-midterm deadline. "It's less about a timeline and…