President Trump on 12 November signed a bill to end the 43-day federal government shutdown immediately after the House voted to approve a continuing resolution (CR) to fund the government until 30 January 2026. The Senate broke the logjam on 10 November, voting to approve the CR in a 60-40 vote, which then went to the House.

The bill also includes provisions to reinstate federal workers who lost their jobs due to reductions in force (RIFs) and a minibus appropriations package comprising FY2026 spending bills for the Department of Veterans Affairs, military construction projects, the Department of Agriculture (which includes the FDA) and the Legislative Branch. The Senate CR deal included a promise by Majority Leader John Thune (R-SD) to hold a vote by the end of the second week of December on a bill of Democrats' choosing to extend enhanced Affordable Care Act (ACA) premium tax credits expiring at the end of 2025.

The end to the government shutdown again raises the possibility of follow-on legislation on health, trade and tax issues later this year. Republican options for further legislation include a second, fast-track budget reconciliation bill that would require a simple majority vote in the Senate or a bipartisan agreement.

There are a number of tax proposals that could be included in a bill if one materializes, including cryptocurrency tax provisions and US-Taiwan tax relief, among others.

Senate Committee on Agriculture, Nutrition, and Forestry Chairman John Boozman (R-AR) and Senator Cory Booker (D-NJ) this week released a discussion draft of legislation on crypto assets market structure. (The committee has jurisdiction over digital assets treated as commodities.) The bipartisan proposal, which expands upon the Digital Asset Market Clarity Act of 2025 (CLARITY Act) approved by the House in July, would provide new authority to the Commodity Futures Trading Commission to regulate digital commodities. According to a committee press release, the draft is a first step with significant work still needed to advance the legislation out of committee and to the Senate floor.

The IRS on 10 November issued Revenue Procedure 2025-31, creating a safe harbor for investment and grantor trusts to stake their digital assets without jeopardizing their tax status as trusts. Revenue Procedure 2025-31 lists 14 requirements that must be met to meet the safe harbor. The revenue procedure also allows existing trusts to amend their governing instruments to meet the safe harbor requirements if they do so within the applicable time period.

In an "X" post, Treasury Secretary Scott Bessent wrote that the new guidance gives "crypto exchange-traded products (ETPs) a clear path to stake digital assets and share staking rewards with their retail investors."