PANews reported on April 2nd that according to Bitcoin.com, U.S. Senator Ted Cruz recently announced the introduction of the Facilitating Lowering and Addressing Routine Emissions (FLARE) Act, a federal proposal aimed at converting wasted energy into effective utilization through targeted tax reforms. The federal bill seeks to: amend the 1986 Internal Revenue Code to provide permanent full expensing for properties used to capture natural gas that would otherwise be flared or emitted and use it for value-added products. Cruz described this move as a strategic step to leverage the state's abundant energy supply and strengthen its leadership in the digital asset field. The senator stated: "I am committed to making Texas the preferred location for Bitcoin mining. The FLARE Act incentivizes entrepreneurs and cryptocurrency miners to utilize natural gas that would otherwise be stranded."
