Odaily Planet Daily reports that Bitcoin News posted on X that a new analysis by the Cornell Tech Policy Institute estimates that exempting capital gains tax on small digital asset purchases could increase U.S. federal government revenue by approximately $859 million over the next decade. Senator Cynthia Lummis’s S. 2207 bill would exempt qualifying purchases under $300 from capital gains recognition, with an annual cap of $5,000 on excluded capital gains. The study finds that, under core assumptions, each $100 in qualifying baseline payments generates $3.18 in net federal revenue.
Cornell Study: Exempting Small Bitcoin Transactions Could Increase U.S. Revenue by $859 Million Over 10 Years
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Summary
A new study by the Cornell Tech Policy Institute suggests that exempting small Bitcoin transactions from capital gains tax could increase U.S. federal revenue by $859 million over 10 years. The analysis references Senator Cynthia Lummis’ S. 2207 bill, which would exempt purchases under $300, with an annual cap of $5,000. According to the study, each eligible $100 transaction could generate $3.18 in federal revenue.
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