Bitcoin-friendly Republican Senator Cynthia Lummis does not think Biden’s proposed 30% mining tax is unlikely to pass the House. and believes that the expansion of industry across the United States is a matter of national security.
duringinterview Lummis discussed the mining tax with Perianne Boring, a member of the crypto advocacy group Chamber of Digital Commerce.
Boring explained that member companies, which account for 50% of Bitcoin’s hash rate, are “very concerned” that they won’t be able to operate in the United States if the tariffs are passed.
“That’s not going to happen,” she said. Like Bitcoin mining has to happen in the United States.”
Biden’s Mining Taxationget recommendedquietly in the 2024 budget plan to face the impact it causes “local environmental pollution” and “higher energy prices”
Lummis believes Bitcoin mining is more beneficial for the environment and energy than it is harmful. In her home state of Wyoming She explains that mining has become an economic alternative for draining methane waste from oil and gas wells. To prevent methane from being released into the atmosphere
As of Q4 2022, the global Bitcoin mining industry has a green energy mix of 58.9%, according to a survey from the Bitcoin Mining Council.
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