Lummis Pushes Crypto Tax Breaks in New Bill—But Will It Pass?
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Senator Cynthia Lummis unveiled a controversial crypto tax bill after failing to include reforms in the budget.
The proposal would:
- Exempt small transactions (under $300)
- Skip taxes on crypto loans & donations
- Delay taxes on staking/mining income
Lummis claims it “cuts red tape,” but critics argue it favors crypto investors over traditional taxpayers.
With Congress divided, its chances remain uncertain.
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