{"id":79521,"date":"2023-05-29T16:43:00","date_gmt":"2023-05-29T13:43:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79521"},"modified":"2025-09-11T11:30:46","modified_gmt":"2025-09-11T08:30:46","slug":"debt-limit-deal-excludes-30-tax-on-cryptocurrency-mining","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/debt-limit-deal-excludes-30-tax-on-cryptocurrency-mining\/","title":{"rendered":"Debt-limit deal excludes 30% tax on cryptocurrency mining"},"content":{"rendered":"<p>The debt-ceiling<a href=\"https:\/\/u1f987.com\/en\/news\/us-debt-ceiling-deal-sparks-bitcoin-volatility\"> project<\/a> to raise the debt limit <a href=\"https:\/\/docs.house.gov\/billsthisweek\/20230529\/BILLS-118hrPIH-fiscalresponsibility.pdf\">does not contain<\/a> mention of the excise tax <span data-descr=\"Energy for digital asset mining\" class=\"old_tooltip\">Digital Asset Mining Energy<\/span> (DAME).<\/p>\n<p>In early May <span data-descr=\"Council of Economic Advisers\" class=\"old_tooltip\">CEA<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/biden-administration-proposes-30-tax-on-electricity-used-for-cryptocurrency-mining\">proposed<\/a> to include in the federal budget a 30% tax on electricity used in cryptocurrency mining. The initiative was positioned as a measure to minimise the impact on climate change.<\/p>\n<p>Experts proposed a phased introduction of the tax over three years: 10% next year, then 20% and 30%. It was projected that DAME would raise $3.5 billion over ten years.<\/p>\n<p>A Republican representing Ohio in the U.S. House, Warren Davidson, called the rejection of the tax a victory.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Yes, one of the victories is blocking proposed taxes.<\/p>\n<p>\u2014 Warren Davidson ?? (@WarrenDavidson) <a href=\"https:\/\/twitter.com\/WarrenDavidson\/status\/1663001207651155970?ref_src=twsrc%5Etfw\">May 29, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier in March, CEA<a href=\"https:\/\/u1f987.com\/en\/news\/white-house-flags-risks-cryptocurrencies-pose-to-citizens-and-the-financial-system\"> presented a report<\/a>, in which it argued that digital assets do not meet the stated use cases. They also highlighted the risks that digital assets pose for investors and financial stability more broadly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The debt-limit package agreed by President Joe Biden and House Speaker Kevin McCarthy contains no mention of the DAME excise tax.<\/p>\n","protected":false},"author":1,"featured_media":79522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,36,1230,26],"class_list":["post-79521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-regulation","tag-us-congress","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=79521"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79521\/revisions"}],"predecessor-version":[{"id":79523,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79521\/revisions\/79523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79522"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}