The Biden administration is picking “winners and losers” in a proposal to tax cryptocurrency miners, US Sen. Cynthia Lummis said in a tweet on Thursday.
The Wyoming Republican called Biden’s proposed 30 percent tax a “blatant attempt by the administration to pick winners and losers.”“I will not let President Biden tax the digital asset industry out of existence,” Lummis said.
Lummis first pushed back against the tax proposal last week at the Bitcoin 2023 conference in Miami. She said to the crowd about the tax,” that isn’t going to happen.”Lummis also tweeted on Friday about the conference.“America must welcome innovation and digital assets are the future of financial innovation,” Lummis tweeted.
The Biden Administration proposed what is dubbed the Digital Asset Mining Energy excise tax, or DAME, in its budget for fiscal year 2024 in March.Read more on cryptonews.com