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The wife of a top White House aide is taking flak for a series of anti-vaccination—and pro-measles—posts on social media. Darla Shine, wife of White House communications chief Bill Shine, started tweeting in response to a CNN segment on the measles outbreak in Washington and Oregon, calling it…
The new Democratic-led House sent President Trump a message Wednesday, and it’s a doozy: Stop supporting Saudi Arabia’s war in Yemen. Lawmakers easily passed the measure, 248-177, in a display of frustration over the war’s humanitarian crisis and Washington’s ongoing ties to Riyadh after journalist Jamal Khashoggi’s death, the AP…
After a House panel authorized a subpoena to summon the acting attorney general to appear Friday, Matthew Whitaker said he’ll testify—as long as there’s no subpoena. Whitaker said in a statement that the subpoena vote broke his agreement with the panel to appear voluntarily, the Washington Post reports. Democrats…
The new Democrat-controlled House Intelligence Committee met for the first time Wednesday and wasted no time in making some moves. The panel voted to move forward on an effort that had been previously quashed and that Committee Chair Adam Schiff had vowed to make a priority: It will send more…
During the first week of the new year, two U.S. representatives from New Hampshire, Dennis Acton and Michael Yakubovich, proposed a bill that would allow the state’s residents to pay taxes with cryptocurrencies. Now after some deliberation, New Hampshire’s House Subcommittee unanimously approved the state’s bitcoin for taxes bill.
New Hampshire Bitcoin for Taxes Bill Passes Unanimously
Residents from the state of New Hampshire, otherwise known as the “free state,” may soon be able to pay their taxes using cryptocurrencies like bitcoin. Over the last few weeks, the state’s legislators have been discussing the recently submitted bill, HB 470, which would allow residents to pay specific New Hampshire taxes with bitcoin. HB 470 will address any accounting, valuation and management issues related to accepting cryptocurrencies, the bill states. Further, the plan will need to find a third party payment processor that will process digital asset transactions at no cost to the state.
“Implementation Plan for the State to Accept Cryptocurrencies as Payment for Taxes and Fees,” explains HB 470. “The state treasurer, in consultation with the commissioner of the department of revenue administration and the commissioner of the department of administrative services, shall develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees beginning July 1, 2020.”
If the bill passes, then on or before November 1, 2019, the state treasurer must submit the roadmap to the Governor, the Speaker of the House of Representatives, the Senate President, the House Clerk, the Senate Clerk, and the offices of the State Library. On Jan. 29, 2019 at 9 a.m., the New Hampshire House Subcommittee unanimously approved the bitcoin for taxes legislation and the bill’s amendments. HB 470 will now go back to the executive branches like the state’s Administration Committee for further voting.
New Hampshire Joins Ohio and Possibly Indiana
New Hampshire is currently on the move to join Ohio, the first state in the U.S. to accept payments in bitcoin cash (BCH) and bitcoin core (BTC) for 23 types of business taxes. “Ohio has become the first state in the United States, and one of the first governments in the world, to accept cryptocurrency,” detailed Josh Mandel from the Ohio Treasurer’s Office at the time. Then there’s the state of Indiana which plans to amend the tax code and accept cryptocurrencies for tax payments as well, according to House bill number 1683 filed on Jan. 24, 2019. Indiana’s Treasurer will be in charge of handling similar parts of the system, like finding a payment processor, but if enacted, Indiana’s amended tax code would go into effect on July 1, 2019.
With the New Hampshire Subcommittee unanimously pushing through the bitcoin for taxes bill, it seems like the state may approve the legislation in the near future, although residents will still have to wait until 2020 in order to pay taxes with cryptocurrencies. HB 470 also emphasizes that New Hampshire will not accept the responsibility of bitcoin’s price fluctuations and all taxes collected will be converted to U.S. dollars immediately. Furthermore, the state’s Treasury is unable to predict whether a third-party payment processor would process cryptocurrency services at no cost to the state, the proposed bill concedes.
What do you think about the New Hampshire Subcommittee pushing the state’s bitcoin for taxes bill forward? Let us know what you think about this subject in the comments section below.
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House Democrats are planning to hold a vote against government shutdowns Wednesday—a symbolic move that will do nothing to prevent another shutdown, but will force House Republicans to go on the record as being for or against shutdowns. A draft of the measure seen by Politico states that “shutdowns…
President Trump’s former lawyer, Michael Cohen, has agreed to talk to the House Intelligence Committee behind closed doors on Feb. 8, the AP reports. That’s according to California Rep. Adam Schiff, who says Cohen will be appearing voluntarily. The announcement comes after Cohen postponed a separate hearing with the House…
Former Starbucks CEO Howard Schultz gave the 2020 race a jolt Sunday by announcing that he is “seriously considering” running for president as an independent. “Our two parties are more divided than ever,” he tweeted . “Let’s discuss how we can come together to create opportunities for more people.” The 65-year-old…
A 21-year-old Georgia man has been arrested for allegedly plotting to attack the White House and other federal buildings, CNN reports. Authorities say Hasher Taheb planned to use explosives and an anti-tank rocket. “His alleged intent was to attack the White House and other targets of opportunity in the Washington…