A tentative deal aimed at stopping the United States government from defaulting on its debts would likely eliminate a proposed tax on the energy usage of cryptocurrency miners, according to Ohio Representative Warren Davidson.
On May 28, U.S. lawmakers released a draft of a bill allowing the government to increase the debt ceiling — an imposed limit on the amount of debt the Treasury Department can incur — following negotiations with President Joe Biden and House Speaker Kevin McCarthy. The legislation still needs congressional approval before taking effect to avoid a seeming economic catastrophe for the U.S. government.
This story originally appeared on Investing
