U.S. Rep. Warren Davidson of Ohio shared the text of a newly proposed debt-ceiling agreement on Sunday that would completely suspend the debt ceiling until Jan. 1, 2025.
On the other hand, it will implement several spending cuts, including limiting non-defense spending and cutting funding for the IRS.
Responding to Davidson, Pierre Rochard, vice president of research at bitcoin mining firm Riot Platforms, noted that the bill makes no mention of the government’s previously proposed Digital Asset Mining Energy (DAME) tax.
Davidson confirmed that the proposal had been dropped and that one of the Republicans’ negotiating wins was blocking the Democrats’ proposed tax.