U.S. Senate votes to pass procedural motion to advance "big and beautiful" bill

2025/06/29 11:26

PANews reported on June 29 that according to Cailian News, on June 28 local time, the U.S. Senate passed a procedural motion by a vote of 51 to 49. This motion aims to advance the massive tax and spending bill that U.S. President Trump called "big and beautiful". After the U.S. Senate passed the procedural vote, the possibility of the bill passing in the next few days has increased. It is reported that after the procedural motion is passed, the massive tax and spending bill will go through reading, debate, amendment voting and final vote, which is expected to take several days, with the goal of sending it to the U.S. President for signature before July 4.

In the early morning of May 22, local time, the Republican-controlled House of Representatives of the United States Congress passed a large-scale tax and spending bill with a one-vote advantage, with 215 votes in favor and 214 votes against, and submitted it to the Senate for deliberation. The bill contains multiple clauses and more than 1,000 pages, focusing mainly on tax cuts and spending cuts. The bill will extend the corporate and individual tax cuts passed by Trump in 2017 during his first presidency, provide new tax breaks for tips, car loans, etc., increase defense spending, and provide more funds to combat illegal immigration.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

$100 Trillion Crypto Market in Sight? Massive Growth Forecasted

$100 Trillion Crypto Market in Sight? Massive Growth Forecasted

The post $100 Trillion Crypto Market in Sight? Massive Growth Forecasted appeared on BitcoinEthereumNews.com. Key Insights: Crypto market users could hit 4B by 2030 (1 in 8 people). Growth outpaces the internet’s early adoption curve. Crypto market cap may reach $100T by 2032. Critics dispute wallet counts, Pal defends metric. Real Vision CEO Raoul Pal believes cryptocurrency is set to grow even faster in the coming years. He predicted that adoption is already moving at an impressive pace. By 2030, he expects a major boom that could bring crypto into the mainstream. In a recent tweet, Raoul Pal pointed out that crypto is spreading twice as fast as the internet did in its early days. He used a time log scale that compared crypto users with internet users. He predicted the number of people using crypto could climb to 4 billion by 2030. His forecast is based on an exponential growth chart that extends today’s trend (nearly 1 billion users in 2025) into the future. The Real Vision CEO explained that if billions more people start using crypto, it will not only grow the community but also increase the overall value of the crypto market. According to Pal, this boom could grow the crypto market’s value from about $4 trillion today to as much as $100 trillion by 2032 to 2034. He says the two main forces that will drive this growth are the increasing adoption of crypto and the declining value of traditional fiat. Crypto Market Comparison: Faster Growth Than the Internet The comparison to the internet is a key part of Pal’s argument. Just as email, websites, and online businesses transformed communication and commerce, crypto and blockchain technology could reshape money, finance, and ownership. But Pal notes that crypto’s adoption curve is much steeper. Whereas the internet needed infrastructure like fiber optic cables and personal computers to spread, crypto only requires a…
Share
BitcoinEthereumNews2025/09/02 03:39
Share