President Donald Trump signed the law on July 4th at a White House ceremony celebrating US Independence Day.
The bill will pass narrowly in both rooms and bring about tax cuts on sweep, a deep expenditure change, and an increase in the largest debt cap in US history.
What does the code mean in Trump’s big beautiful bill?
It will permanently extend the major Trump-era tax cuts, introduce new deductions on tips, overtime and car loan interest, and expand the salt cap for middle-income families.
At the same time, it will impose aggressive cuts on Medicaid, food assistance programs and student loan subsidies. The Congressional Budget Office is projecting a $3.3 trillion deficit increase over the next decade.
Trump signs a big beautiful bill to the law
The crypto market is looking closely.
Analysts warn that a massive new debt load could weaken the US dollar and drive investors to non-yoregular assets like Bitcoin. The inflation impact of this spending package could accelerate crypto demand.
The price of Bitcoin exceeded $108,000 shortly after the bill was signed.
Still, investors’ attention remains. The Federal Reserve’s policy response to a surge in debt levels could have an impact on the sustainability of crypto rallies.
For now, Trump’s legislative victory sets the tone of a new fiscal era.
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