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How Trump’s ‘Big Beautiful Bill’ (And Elon Musk Row) Could Affect Bitcoin.
Donald Trump’s “Big, Beautiful Bill” has been narrowly passed by the Senate — following hours of haggling that went late into the night.
It was a close one, with Vice President JD Vance casting the tie-breaking vote to get the legislation over the line.
All eyes now turn to the House of Representatives, where Trump’s legislation could face staunch opposition — plunging the president’s ambition of getting the bill on his desk by July 4 into serious doubt.
At this point, it’s worth looking at what the “Big Beautiful Bill” consists of. For one, generous tax cuts introduced during Trump’s first term would be extended, with critics arguing they disproportionately benefit America’s highest earners. Tips would no longer be taxable, which could be a game-changer for the service sector.
Beyond taxation, there would be aggressive new investment to finance mass deportations and substantial cuts to Medicaid, with the debt ceiling raised to $5 trillion. That’s where Elon Musk comes in.