🇺🇸 US Senate Passes 'One Big Beautiful Bill Act' – Crypto Tax Provision Left Out
The US Senate has narrowly approved President Trump’s flagship budget reconciliation measure, the *One Big Beautiful Bill Act*, in a dramatic 50–50 vote decided by Vice President JD Vance.
Despite passing, the bill faced bipartisan criticism over healthcare spending cuts, AI regulation gaps, and broad tax cuts. All Democrats and three Republicans opposed it, proposing amendments for rural hospital funding and federal AI research support.
Senator Cynthia Lummis had pushed for fair tax treatment for cryptocurrency miners, but her provision didn’t make it into the final bill. Representative Nicholas Begich expressed disappointment at the exclusion but remains optimistic about revisiting crypto taxation in future legislation.
Senator Lummis called the bill “imperfect” but described it as meaningful progress. The legislation now returns to the House, where Republicans hold only a slim majority.
Critics, including Senator Elizabeth Warren, accused the bill of favoring corporate interests over American healthcare needs. Meanwhile, negotiations on broader digital asset regulation continue in both chambers, with lawmakers aiming for more comprehensive crypto rules in separate bills.
