Republicans – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Tue, 01 Jul 2025 20:10:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Republicans – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 The big, beautiful bill will cause millions to lose Medicaid. Trump and Republicans will be to blame. https://earlybirdsinvest.com/the-big-beautiful-bill-will-cause-millions-to-lose-medicaid-trump-and-republicans-will-be-to-blame/ https://earlybirdsinvest.com/the-big-beautiful-bill-will-cause-millions-to-lose-medicaid-trump-and-republicans-will-be-to-blame/#respond Tue, 01 Jul 2025 20:10:09 +0000 https://earlybirdsinvest.com/the-big-beautiful-bill-will-cause-millions-to-lose-medicaid-trump-and-republicans-will-be-to-blame/

Senate Republicans have passed President Donald Trump’s “big, beautiful bill,” a move that will make major changes to Medicaid through establishing a work requirement for the first time and restricting states’ ability to finance their share of the program’s costs. If the bill ultimately becomes law after passing the House and receiving Trump’s signature — which could all happen before Friday — American health care is never going to be the same.

The consequences will be dire.

The Congressional Budget Office estimates that the legislation would slash Medicaid spending by more than $1 trillion and that nearly 12 million people would lose their health insurance. Republicans added a last-minute infusion of funding for rural hospitals to assuage moderates skittish about the Medicaid cuts, but hospitals say the legislation will still be devastating to their business and their patients.

When combined with the expiration of Obamacare subsidies at the end of this year, which were not addressed in the budget bill, and the other regulatory changes being made by the Trump administration, the Republican policy agenda could lead to an estimated 17 million Americans losing health coverage over the next decade, according to the health policy think tank KFF.

Fewer people with health insurance is going to mean fewer people getting medical services, which means more illness and ultimately more deaths.

One recent analysis by a group of Harvard-affiliated researchers of the House Republicans’ version of the budget bill (which included the same general outline, though some of the provisions have been tweaked in the Senate) concluded that 700,000 fewer Americans would have a regular place to get medical care as a result of the bill. Upward of 200,000 fewer people would get their blood cholesterol or blood sugar checked; 139,000 fewer women would get their recommended mammograms. Overall, the authors project that between 8,200 and 24,600 additional Americans would die every year under the Republican plan. Other analyses came to the same conclusion: Millions of Americans will lose health insurance and thousands will die.

After a painful legislative debate in which some of their own members warned them not to cut Medicaid too deeply, Republicans succeeded in taking a big chunk out of the program to help cover the costs of their bill’s tax cuts. They have, eight years after failing to repeal Obamacare entirely, managed to strike blows to some of its important provisions.

So, for better or worse, they own the health care system now, a system that is a continued source of frustration for most Americans — frustrations that the Republican plan won’t relieve. The next time health care comes up for serious debate in Congress, lawmakers will need to repair the damage that the GOP is doing with its so-called big, beautiful bill.

How the Republican budget bill will drive up health care costs for everyone

The effects of the budget bill won’t be limited only to the people on Medicaid and the people whose private insurance costs will increase because of the Obamacare funding cuts. Everyone will experience the consequences of millions of Americans losing health coverage.

When a person loses their health insurance, they are more likely to skip regular medical checkups, which makes it more likely they go to a hospital emergency room when a serious medical problem has gotten so bad that they can’t ignore it any longer. The hospital is obligated by federal law to take care of them even if they can’t pay for their care.

Those costs are then passed on to other patients. When health care providers negotiate with insurance companies over next year’s rates, they account for the uncompensated care they have to provide. And the fewer people covered by Medicaid, the more uncompensated care hospitals have to cover, the more costs are going to increase for even people who do have health insurance. Republicans included funding in the bill to try to protect hospitals from the adverse consequences, an acknowledgement of the risk they were taking, but the hospitals themselves are warning that the funding patches are insufficient. If hospitals and doctors’ offices close because their bottom lines are squeezed by this bill, that will make it harder for people to access health care, even if they have an insurance card.

The effects of the Republican budget bill are going to filter through the rest of the health care system and increase costs for everyone. In that sense, the legislation passage marks a new era for US health policy. Since the Affordable Care Act passed in 2010, Democrats have primarily been held responsible for the state of the health care system. Sometimes this has been a drag on their political goals. But over time, as the ACA’s benefits became more ingrained, health care became a political boon to Democrats.

Going forward, having made these enormous changes, Republicans are going to own the American health care system and all of its problems — the ones they created and the ones that have existed for years.

The BBB’s passage sets the stage for another fight on the future of American health care

For the past decade-plus, US health care politics have tended to follow a “you break it, you buy it” rule. Democrats discovered this in 2010: Though the Affordable Care Act’s major provisions did not take effect for several years, they saw their popularity plummet quickly as Republicans successfully blamed annual premium increases that would’ve occurred with or without the law on the Democrats and their new health care bill. Voters were persuaded by those arguments, and Democrats lost Congress in the 2010 midterms.

But years later, Americans began to change their perception. As of 2024, 44 million Americans were covered through the 2010 health care law and two-thirds of the country say they have a favorable view of the ACA. After the GOP’s failed attempt to repeal the law in 2017, the politics of the issue flipped: Democrats scored major wins in the 2018 midterms after successfully campaigning against the GOP’s failed plan to repeal the ACA. Even in the disastrous 2024 election cycle for Democrats, health care policy was still an issue where voters trusted Kamala Harris more than Trump.

Trump’s One Big Beautiful Bill is already unpopular. Medicaid cuts specifically do not poll well with the public, and the program itself is enjoying the most popularity ever since it was first created in 1965. Those are the ingredients for a serious backlash, especially with government officials and hospitals in red states railing hard against the bill.

Democrats have more work to do on explaining to the public what the bill does and how its implications will be felt by millions of people. Recent polling suggests that many Americans don’t understand the specifics. A contentious debate among Republicans, with several solitary members warning against the consequences of Medicaid cuts, have given politicians on the other side of the aisle good material to work with in making that case: Democrats can pull up clips of Sen. Thom Tillis (R-NC) on the Senate floor, explaining how devastating the bill’s Medicaid provisions would be to conservative voters in Republican-controlled states.

Republicans will try to sell the bill on its tax cuts. But multiple analyses have shown the vast majority of the benefits are going to be reserved for people in higher-income brackets. Middle-class and working-class voters will see only marginal tax relief — and if their health care costs increase either because they lose their insurance or because their premiums go up after other people lose insurance, then that relief could quickly be wiped out by increased costs elsewhere. That is the story Democrats will need to tell in the coming campaigns.

Medicaid has served as a safety net for tens of millions of Americans during both the Great Recession of 2008 and since the pandemic recession of 2020. At one point, around 90 million Americans — about one in four — were covered by Medicaid. People have become much more familiar with the program and it has either directly benefited them or helped somebody that they know at a difficult time.

And difficult times may be coming. Economists have their eyes on concerning economic indicators that the world may be heading toward a recession. When a recession hits — that is, after all, inevitable; it’s just the normal cycle of the economy — people will lose their jobs and many of them will also lose their employer-sponsored health insurance. But now, the safety net is far flimsier than it was in previous crises.

Republicans are going to own those consequences. They took a program that had become an essential lifeline for millions of Americans and having schemed to gut the law ever since the Democrats expanded Medicaid through the ACA more than a decade ago, have finally succeeded. This Republican plan was a reaction to their opponent’s most recent policy overhaul; the next Democratic health care plan will need to repair the harms precipitated by the GOP budget bill.

In the meantime, the impetus is on Democrats and truth tellers in the media to help Americans understand what has happened, why it has happened, and what the fallout is going to be.

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Senate Republicans Push For Crypto-Friendly Amendments Amid Budget Bill Discussions https://earlybirdsinvest.com/senate-republicans-push-for-crypto-friendly-amendments-amid-budget-bill-discussions/ https://earlybirdsinvest.com/senate-republicans-push-for-crypto-friendly-amendments-amid-budget-bill-discussions/#respond Tue, 01 Jul 2025 17:25:15 +0000 https://earlybirdsinvest.com/senate-republicans-push-for-crypto-friendly-amendments-amid-budget-bill-discussions/

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As Republicans rush to pass President Donald Trump’s “One Big Beautiful Bill” budget plan, a timely initiative is emerging in Congress that puts cryptocurrency in the spotlight once more.

Lawmakers are seeking to attach amendments aimed at providing significant advantages for cryptocurrency investors, contributing to the ongoing shift in the regulatory landscape for digital assets in the country.

Fair Tax Treatment For Crypto Miners And Stakers

On Monday, Senator Cynthia Lummis, an advocate for the adoption of digital assets, took to social media platform X (formerly Twitter), to voice her concerns about the current tax treatment faced by crypto miners and stakers. 

The Senator highlighted that these individuals are taxed twice: once when they receive block rewards and again upon selling their assets. “It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower,” Lummis stated.

This sentiment resonates with President Trump, who has consistently supported the integration of digital assets into the country’s financial system. His administration has proposed the establishment of the nation’s first crypto strategic reserve, which would include Bitcoin (BTC) and other tokens as part of its framework.

Fox journalist Eleanor Terret also reported on X that discussions around crypto tax amendments remain alive, despite some disagreements that arose over the weekend. 

Congressional Divisions Toward Digital Assets

Terret indicated that the White House is advocating for the inclusion of Lummis’s proposed changes in the final version of the bill, demonstrating a concerted effort to galvanize support for the cryptocurrency sector.

In contrast to Lummis’s approach, Senator Jeff Merkley introduced an amendment aimed at barring elected officials from promoting or profiting from crypto tokens in which they have a financial interest. 

Merkley argued that allowing such practices undermines the integrity of governance. “The sale of crypto coins by any of us for financial benefit is corrupting our responsibility to govern by and for the people,” he asserted.

Lummis opposed Merkley’s amendment, warning that it could stifle American innovation and hinder the government’s ability to effectively understand and regulate digital assets

In a pointed remark in Congress on Monday, the pro-crypto Senator noted, “If we’re serious about ethics and financial products, let’s focus on real solutions and all financial products, not just digital.”

Ultimately, Merkley’s amendment was defeated, failing to pass with a vote of 47 to 53, reflecting the ongoing tensions in Congress regarding the regulation of digital assets, as well as the divisions among lawmakers regarding this emerging technology.

Crypto
The daily chart shows BTC’s price consolidating at $107,180. Source: BTCUSDT on TradingView.com

As of press time, Bitcoin trades at $107,187, up 2% on the weekly time frame. Despite the short-term recovery for the market’s leading crypto, BTC still trades 4% below its record price of $111,800.  

Featured image from DALL-E, chart from TradingView.com 

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House Republicans release draft bill to establish federal framework for crypto regulation https://earlybirdsinvest.com/house-republicans-release-draft-bill-to-establish-federal-framework-for-crypto-regulation/ https://earlybirdsinvest.com/house-republicans-release-draft-bill-to-establish-federal-framework-for-crypto-regulation/#respond Mon, 05 May 2025 18:23:23 +0000 https://earlybirdsinvest.com/house-republicans-release-draft-bill-to-establish-federal-framework-for-crypto-regulation/

The House Financial Services and Agriculture Committee leaders published a discussion draft outlining a federal crypto framework to regulate the industry in the US on May 5.

House Financial Services Chairman French Hill (R-AR), Agriculture Committee Chairman Glenn “G.T.” Thompson (R-PA), Financial Services Subcommittee Chair on Digital Assets Bryan Steil (R-WI), and Agriculture Subcommittee Chair on Commodity Markets Dusty Johnson (R-SD) released the draft legislation. 

The lawmakers emphasized the bill’s role in coordinating regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) while introducing legal definitions for key terms in blockchain and crypto markets.

Chairman Hill stated:

“The discussion draft builds upon the bipartisan, bicameral progress made in the 118th Congress and offers a durable framework to protect consumers while maintaining the United States’ leadership in digital innovation.”

He added that the committee intends to incorporate public feedback and work with the President Donald Trump administration to deliver a final bill for enactment.

Classifications for digital assets

The legislation introduces definitions for core industry concepts, including digital commodity, blockchain system, decentralized governance, permitted payment stablecoin, and mature blockchain system.

Additionally, it clarifies that distributions through mining, staking, or user rewards, termed “end user distributions,” are neither securities nor sales under existing laws.

Chairman Thompson emphasized the urgency of legislative clarity, noting that the proposed framework will close regulatory gaps and give developers and users the certainty they have long requested. 

The draft sets registration pathways for digital commodity exchanges, brokers, and dealers under the CFTC while allowing the SEC to retain jurisdiction over securities and certain hybrid assets. Entities performing custody functions, trading facilitation, or interfacing with customers must follow newly defined registration and disclosure procedures.

Subcommittee Chair Steil said:

“This is the beginning of the golden age of digital assets, and the House is leading the way.” 

Johnson echoed this view, stating the US must offer a commonsense regulatory regime to remain the global hub for crypto investment and innovation.

The draft preserves protections for DeFi protocols and self-custody. It excludes DeFi trading protocols and messaging systems from traditional financial regulations, provided they do not custody or exercise discretion over user funds. 

The bill also prohibits the Treasury or FinCEN from issuing rules restricting individuals’ ability to self-custody crypto through wallets.

Kickstarting the legislative process

The committees scheduled a joint hearing for May 6, titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century,” to begin formal legislative discussions and gather stakeholder input. 

The draft includes provisions for joint rulemaking by the SEC and CFTC, alongside studies on DeFi, non-fungible tokens (NFTs), and blockchain infrastructure through expanded innovation offices at federal agencies.

By establishing legal definitions and clear jurisdictional lines, the proposed bill seeks to end crypto regulation uncertainty in the US while encouraging responsible development and oversight of digital asset markets.

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