With the passage of the U.S. Senate, which aims to propose most of Donald Trump’s policy agenda, the last minute change is “A big bill“Not including recommendations to clarify and mitigate crypto taxes.
Despite Senator Cynthia Lummis Advocate change The U.S. approach to taxing cryptocurrency transactions, including exempting capital gains taxes on small-scale activities, is not one of the amendments to the bill, which passed Tuesday by a 50-50 vote, and Vice President JD Vance had to step in to break the tie.
After the amendment, the senators debated the amendments at night, most of which failed, on the way to Republican success. But despite the 11-hour lobbying work in the digital asset industry, Loomis’s amendment is not among them.
Her characterization of her is to rationalize the idea of American taxation and to eliminate unfair double taxation on certain crypto-related matters back to her efforts to legislate independently. Her office did not immediately respond to a request for comment on the situation.
Trump’s legislative plan will overhaul the U.S. government spending in a huge way, and it is currently estimated to increase the budget deficit by $3 trillion, which is not a deal. Now it will face a House vote on Senate changes, where the home is expected to have little heated debate after passing its earlier version.
Senate Majority Leader John Thune made a celebration remark after his passage on Tuesday, calling the effort “to expand tax breaks for hard-working Americans” and would rebuild military, secure borders and “release” the U.S. energy sector. Now, he added: “I hope everyone manages to fall asleep.”
Treasury Secretary Scott Bessent issued a statement encouraging Republicans to act quickly in the House so that we can deliver on President Trump’s commitment to drive the future of our economy and ensure that the United States remains the world’s premier capital and innovation destination. ”
When the Senate passed the bill, Elizabeth Warren, a legislative critic of Democrat Elizabeth Warren, wrote a letter to leaders of major U.S. tech companies.
She wrote to her and heads of companies such as Amazon, Meta and Apple. “Your extravagant political spending seems to be yielding results, and American families in the United States pay the price every day.”
Read more: Senators try to exempt U.S. taxes on small-scale crypto activities in large budget bills
