Watchdog: Proposed Crypto Tax Bill Offers Windfall for Trump Family

The proposed measure would allow cryptocurrency firms to defer taxes on mined coins indefinitely, provided the assets remain unsold. This mechanism permits owners to borrow against their holdings while bypassing tax payments entirely. The Revolving Door Project highlights that Eric and Donald Trump Jr. hold a 20% stake in American Bitcoin, a firm that mined 817 bitcoin in the first quarter of 2026 alone. At current valuations, those assets exceed $50 million, and the company has already signaled its intent to hold them long-term.

Jeff Hauser, executive director of the watchdog group, characterizes these legislative efforts as a direct return on the crypto industry's aggressive political spending. Records show significant industry contributions to committee members, with Rep. Steven Horsford (D-Nev.) receiving nearly $2 million since 2023. Other notable recipients include Reps. Tom Suozzi, Jimmy Gomez, Adrian Smith, and committee chairman Jason Smith. Watchdog officials argue that these contributions have effectively incentivized lawmakers to prioritize donor interests, warning that such loopholes embolden corporate lobbies at the public's expense.