#OneBigBeautifulBill Legislative Developments

Amendment Season in the Senate

The Senate has been in a last‑minute, amendment-packed "vote‑a‑rama" ahead of the July 4 deadline .

Critics, including Elon Musk, have attacked the bill’s massive debt implications, labeling it “utterly insane” and a “disgusting abomination” .

A Democratic amendment to bar Trump-family crypto profits failed, with crypto-supporter Cynthia Lummis defending against it .

Crypto-Specific Amendments

Cynthia Lummis led efforts for pro-crypto tax breaks in the bill:

#OneBigBeautifulBill Proposed a $600 de minimis exemption for small transactions.

Aimed to eliminate double taxation for mining and staking rewards.

Sought clarity on mark-to-market and reporting rules .

Despite lobbying, crypto-specific relief was left out of the final Senate version—even after VP Vance's tiebreaking vote—leaving tax complexity intact .