ChainCatcher reports that Bitcoin News posted on X that a new analysis by the Cornell Tech Policy Institute estimates that exempting capital gains taxes on small digital asset purchases could generate approximately $859 million in additional revenue for the U.S. federal government over the next 10 years. Senator Cynthia Lummis’s S. 2207 bill would exempt capital gains recognition for qualifying purchases under $300, with an annual cap of $5,000 on excluded capital gains. The study finds that, under core assumptions, each $100 of qualifying baseline spending generates $3.18 in net federal revenue.
Cornell Tech Policy Institute: Exempting Small Bitcoin Transactions from Capital Gains Tax Could Boost U.S. Revenue by $859 Million Over 10 Years
ChaincatcherShare
Summary
A new report from 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 is based on Senator Cynthia Lummis’s S. 2207 bill, which would exempt purchases under $300 from capital gains recognition, with an annual cap of $5,000. For every $100 in qualifying transactions, the government could gain $3.18 in net revenue. The proposal signals a potential shift in regulatory policy toward digital assets.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.