Congress’ Budget Bill Advances From Senate Without Crypto Tax Provision
The recent developments in the U.S. Senate have seen Congress’ spending plan bill move forward without any provisions related to crypto taxation. Despite calls from Senator Cynthia Lummis for changes in how cryptocurrency transactions are taxed, including exemptions for small-scale activities, these proposals did not make it into the bill that passed with a 50-50 vote, requiring Vice President J.D. Vance to break the tie. This bill, aimed at advancing President Donald Trump’s policy goals, did not address the crypto tax issue directly.
Senate Majority Leader John Thune expressed satisfaction after the bill’s passage, highlighting its focus on providing tax relief for American workers, strengthening the military, securing borders, and supporting the U.S. energy sector.
