Cruz, Toomey Slam ‘Unworkable’ Cryptocurrency Scheme To Pay For Infrastructure Billy Tax

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Several Republican senators criticized a cryptocurrency tax scheme included in the infrastructure bill the Senate passed Tuesday.

The bill includes a tax reporting mandate for “digital assets,” or cryptocurrencies, which would force “brokers” of digital assets to disclose gains and transactions to the IRS. The provision, included to help offset the $1.2 trillion cost of the legislation, could raise $28 billion in tax revenue over the next decade.


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