Senator Cynthia Lummis, U.S. Senator for Wyoming | Official U.S. Senate headshot
Senator Cynthia Lummis, U.S. Senator for Wyoming | Official U.S. Senate headshot
U.S. Senator Cynthia Lummis (R-WY) has released an "orange paper" in response to the Biden administration's FY 2025 budget proposal, which includes a new 30% excise tax on electricity for Bitcoin miners. The document outlines potential negative impacts of this proposal on American prosperity and financial innovation.
"President Biden is fond of saying budget proposals reflect his values, and his latest budget proposal – which targets Bitcoin miners with punitive and unfounded electricity taxes – makes it crystal clear he does not value this integral part of our financial future," stated Lummis. "The Biden administration’s proposal is not only counterproductive to its own goals but jeopardizes an integral and growing sector of the American economy in an effort to pander to its radical, far-left base."
This orange paper release marks the first in a forthcoming series aimed at outlining Bitcoin-based policies. A digital copy of the orange paper is available online.
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