Tax cuts for miners: Lummis’ proposal in the Big Beautiful B…
Atlas21 (Newsroom)Senator Cynthia Lummis aims to reduce taxes for American miners through an amendment to Trump’s legislative package.
The initiative, presented by Republican Senator Cynthia Lummis and intended to introduce tax breaks for Bitcoin miners within the so-called “Big Beautiful Bill” promoted by the Trump administration, has secured the support of the White House, according to congressional sources.
The proposed tax reform for miners focuses on eliminating one of the two taxes currently applied: either on the block reward at the time of receipt or on its sale. The provisions would also introduce a minimum exemption threshold set at $300.
In a post on X, the senator stated:
For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it.
— Senator Cynthia Lummis (@SenLummis) June 30, 2025
It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower. 🇺🇸
The Big Beautiful Bill represents a budget reconciliation initiative that’s steadily expanding in scope, covering a range of topics from fiscal policy to social issues, from AI regulations to energy policies. After passing in the House of Representatives, the Senate is now working to develop a viable, shared version. In this context, Senator Lummis is attempting to insert her amendments into the bill.
Despite the White House’s declared support for Lummis’ initiative, President Trump has other priorities that may divert attention from tax reform for miners. During a recent press conference, White House spokesperson Karoline Leavitt revealed Trump’s growing dissatisfaction with Federal Reserve Chairman Jerome Powell.
Paradoxically, the Big Beautiful Bill could end up harming miners even if it includes the tax cuts proposed by Lummis. One of the measures under discussion aims to discourage the use of green energy — a resource the mining industry increasingly relies on to reduce operational costs.
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