The House of Representatives will vote tonight on the 'One Big Beautiful Bill Act', interweaving tax reform, social welfare cuts, and increased debt limits, while the market awaits the results. (Background: Did Crypto win again? A deep dive into Trump's 'One Big Beautiful Bill Act', why cryptocurrency is a big winner) (Background information: Trump's 'One Big Beautiful Bill Act' raises the debt ceiling to $5 trillion, favorable for Bitcoin? Historical data tells you) The U.S. House of Representatives will hold the final vote on President Trump's 'One Big Beautiful Bill Act' (OBBBA) at 8 PM Taiwan time. The bill narrowly passed the Senate the previous day with a vote of 51 to 50, with Vice President Pence casting the crucial vote, paving the way for tax reform, spending, and debt ceiling policies. What is the 'One Big Beautiful Bill Act' in simple terms? The act extends and expands the 2017 tax cuts and introduces new tax cuts, with future deficits expected to increase by about $3.8 trillion over the next decade. At the same time, Medicaid and other medical assistance programs will be cut by $930 billion, with Yale research estimating that over 10 million low-income individuals may lose their coverage. Education loan reform could save $330 billion, and food stamp assistance will also be tightened. On the other hand, defense and border security will each receive an additional $150 billion, and the federal debt ceiling will be raised by a historic $4 trillion. Green energy tax credits and subsidies will be significantly reduced, raising concerns that the U.S. is ceding ground to China in the new energy competition. The controversy surrounding this bill in the U.S. centers on the claim that it 'favors the wealthy and exacerbates inequality.' Vote-buying crisis Three Republican senators, Collins, Tillis, and Paul, cast opposing votes yesterday due to healthcare and debt limit provisions. Democrats criticized the bill as 'robbing the poor to benefit the rich.' A lengthy debate in the Senate lasted for 27 hours, with the bill spanning 1,118 pages, highlighting its complexity. Technology provisions are also under scrutiny: the Senate voted 99 to 1 to remove a federal regulatory ban on artificial intelligence, while tax incentives for cryptocurrency did not receive support. Yale's team estimates that the U.S. real GDP annual growth rate could increase by up to 0.6 percentage points from 2025 to 2027, but the new debt could raise the total by another $3 trillion in ten years, potentially leading to slight increases in interest rates and inflation. According to Fox News reporter Chad Pergram, members of the House Freedom Caucus who have not yet taken a position are gradually moving toward reaching a common agreement, which will encourage those who have not yet voted to 'cast a favorable vote' and may lead originally opposing members to 'switch to support.' If the House successfully passes the bill tonight, Trump could sign it into law as early as the 4th, establishing a 'small government, strong defense' policy. If it faces obstacles again, the market will reassess the U.S. fiscal outlook. Related reports: The U.S. is fully developing cryptocurrency: Senate regulatory hearings invite major players like Ripple and Paradigm to attend. REX Shares announces the U.S.'s first Solana staking ETF 'listing on Wednesday', with SOL once approaching $160. 'The U.S. 'One Big Beautiful Bill Act' faces final hurdles at 8 PM tonight! Is there a vote-buying crisis among House Republicans?' This article was first published by BlockTempo (the most influential blockchain news media).

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