Key dealers
- The US house passed President Trump’s expenses on Thursday; It is now on its way to Trump for his signature.
- The legislation includes tax cuts, increased discretionary expenses and reductions in security networks.
President Donald Trump’s tax and expenses legislation, the “big beautiful bill,” cleared the congress on July 3 after passing the House of Representatives with a narrow vote on 218-214.
Two Republican representatives, Brian Fitzpatrick from Pennsylvania and Thomas Massie from Kentucky, crossed party lines to vote with the Democrats against the action, which had already cleared the Senate earlier this week.
The US Senate adopted the bill without including proposed changes to crypto taxes aimed at promoting stakes, miners and digital asset holders. Despite efforts from Senator Cynthia Lummis and other advocates, cryptocy -specific measures were given out due to time constraints during the final negotiations.
The legislation includes tax reductions for individuals and companies, increases in discretionary expenses and cuts to safety network programs. Financial analyst projects that the bill can increase government debt by $ 3.3 trillion over a decade.
House Democratic leader Hakeem Jeffries set a chamber record for the longest speech during his floor protest against legislation.
The bill now leads to the White House for President Trump’s signature.
Bitcoin risks $ 90,000 reconsideration when Trump’s bill sets the scene for liquidity press
Arthur Hayes, co -founder of Bitmex and a prominent crypto analyst, predicts that President Trump’s large beautiful bill, which raises the US debt ceiling, can cause a significant liquidity drain when the US Ministry of Finance fills its Ministry of Finance’s general account (TGA).
This sewer, estimated at almost $ 500 billion, can temporarily press Bitcoin’s price to Reintroduce $ 90,000 to $ 95,000.
Despite potential short -term volatility, Hayes remains positive when it comes to Bitcoin’s long -term track, which indicates that a smooth marketing absence of the bond emission can keep Bitcoin stable in $ 100,000.
