#OneBigBeautifulBill A law "One Big Beautiful Bill" was signed by President Donald Trump on July 4, 2025, during a ceremony at the White House celebrating Independence Day in the USA. This law includes comprehensive tax cuts and significant reductions in spending, totaling US$ 3.3 trillion. Some of the main implications include:

- *Tax Cuts*: Permanent extension of Trump-era tax cuts, new deductions for tips, overtime, and auto loan interest, as well as an expansion of the SALT cap for middle-income families.

- *Spending Reductions*: Aggressive cuts to Medicaid, food assistance programs, and student loan subsidies.

- *Impact on the Deficit*: The Congressional Budget Office projects a deficit increase of US$ 3.3 trillion over the next decade.

- *Cryptocurrency Market Reaction*: The price of Bitcoin surged above US$ 108 thousand after the law was signed, due to the inflationary implications of the spending package, which may accelerate demand for crypto assets.

The approval of the law was considered a major political victory for Trump, with Vice President JD Vance casting the tie-breaking vote in the Senate. The law also raises the debt ceiling by US$ 5 trillion, which could weaken the US dollar and lead investors to seek non-sovereign assets, such as Bitcoin.