The US Treasury provides tax breaks to private equity, cryptocurrency, and other companies without legislative approval.

ChainCatcher News, According to Golden Ten Data citing The New York Times, the U.S. Treasury Department has provided tax breaks to private equity firms, cryptocurrency companies, foreign real estate investors, and other large corporations through proposed regulations.

For example, in October this year, the U.S. Internal Revenue Service (IRS) issued new proposed regulations that would offer benefits to foreign investors investing in U.S. real estate. In August this year, the IRS proposed relaxing rules designed to prevent multinational companies from avoiding taxes by claiming duplicate losses in multiple countries. These announcements have not yet made media headlines, but have already drawn attention from accounting and consulting firms.

Kyle Pomerleau, Senior Fellow at the American Enterprise Institute, stated: "The U.S. Treasury Department is clearly implementing tax cuts without legislative approval. Congress decides tax law. The Treasury is asserting greater authority over the tax law structure than Congress has granted, undermining this constitutional principle."