Sen. Cynthia Lummis, R-Wyo., is pushing to add language to her party’s tax-and-spending bill that would revamp how the US taxes cryptocurrency.
The Wyoming Republican told Semafor she sent Senate Finance Chair Mike Crapo tax-related provisions of her regulatory overhaul with Sen. Kirsten Gillibrand — including a proposal to apply the wash-sale rule to crypto, which could rake in billions of dollars in revenue, and another to absolve bitcoin miners from reporting gains and losses.
“That has needed to be fixed — and since this bill is a tax bill, it’s just the right place to do it,” Lummis said. Gillibrand was more skeptical: “It’s so premature,” she said.
Senate Republicans capped a whirlwind day of reconciliation meetings Wednesday as Finance Committee members went to the White House to meet with President Donald Trump on the bill. “He wants some working account benefits,” Sen. Bill Cassidy, R-La., said after.