{"id":45356,"date":"2025-07-02T11:00:20","date_gmt":"2025-07-02T08:00:20","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=45356"},"modified":"2025-07-02T09:46:08","modified_gmt":"2025-07-02T06:46:08","slug":"senate-approves-trump-backed-budget-bill-without-crypto-tax-provision","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/senate-approves-trump-backed-budget-bill-without-crypto-tax-provision\/","title":{"rendered":"Senate Approves Trump-Backed Budget Bill Without Crypto Tax Provision!\u00a0"},"content":{"rendered":"

The U.S. Senate<\/strong><\/a> approved the Trump-backed budget bill<\/strong> without including the cryptocurrency tax clause. The bill faced criticism from both parties due to health, artificial intelligence, and tax regulations.<\/span>\u00a0<\/span><\/p>\n

After over 24 hours of debate, the Senate passed the One Big Beautiful Bill Act<\/strong><\/a> budget reconciliation bill with a 50-50 vote<\/strong>. Vice President JD Vance broke the tie to secure the bill\u2019s approval. Democrats and three Republicans voted<\/strong> against it. Many members proposed amendments related to AI regulations and funding for rural hospitals. The bill includes extensions of the 2017 tax cuts<\/strong>, cuts to Medicaid and food assistance, AI regulations, and tax relief measures.<\/span>\u00a0<\/span><\/p>\n

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Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n

  • One Big Beautiful Bill Act and Cryptocurrency Tax Debate\u00a0<\/a><\/li>
  • Trump and Republicans\u2019 Investment Priorities\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n

    <\/span>One Big Beautiful Bill Act and Cryptocurrency Tax Debate<\/span>\u00a0<\/span><\/span><\/h2>\n

    Wyoming Senator Cynthia Lummis<\/strong> proposed an amendment to prevent double taxation on crypto miners and investors. However, this change was not included in the bill. Lummis stated the bill was \u201cnot perfect\u201d but a big step in the right direction. The bill, passed without cryptocurrency tax regulation, now moves to the U.S. House of Representatives. Republicans hold a narrow majority in the House, while Democrats strongly oppose it.<\/span>\u00a0<\/span><\/p>\n

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    For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it.<\/p>\n

    It\u2019s time to stop this unfair tax treatment and ensure America is the world\u2019s Bitcoin and Crypto Superpower. \ud83c\uddfa\ud83c\uddf8<\/p>\n

    — Senator Cynthia Lummis (@SenLummis) June 30, 2025<\/a><\/p><\/blockquote>\n