10 years or add $859 million in fiscal revenue, Cornell analysis says small Bitcoin transactions could be exempt from capital gains tax

Odaily News: Bitcoin News posted on the X platform 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 revenue by about $859 million over the next 10 years. The S. 2207 bill proposed by Senator Cynthia Lummis would exempt qualifying purchases under $300 from capital gains recognition, with an annual cap of $5,000 on exempted capital gains. According to the study, under core assumptions, every $100 in qualifying benchmark payments would generate $3.18 in net federal revenue.