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House passes Trump's sweeping tax-cut bill and sends it to Senate The GuardianTrump tax bill clears the House in a victory for Republicans, advances to the Senate CNBCMetro Detroiters hold rallies in opposition after House passes Trump's "big beautiful bill" CBS News‘We can't afford it': Senate
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7 things Senate Republicans hate about the House megabill PoliticoRand Paul a hard no on House GOP's ‘big, beautiful bill' The HillGOP Senators promise changes to Medicaid-cutting tax bill Modern HealthcareScoop: Johnson privately cautions Senate GOP on Trump's budget bill Axios
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Major changes may come when the bill goes to the Senate
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Households in the top 0.1% would reap more than $390,000 in tax savings, according to one analysis of the tax and spending bill that's now headed to the Senate for a vote.
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The provision is a result of a last-minute change to the bill before its passage out of the House early Thursday.
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RFK Jr.'s MAHA report raises concerns about vaccines, American foods and prescription drugs AP NewsKennedy and Trump Paint Bleak Picture of Chronic Disease in U.S. Children The New York TimesThe findings — and scientific problems — in White House ‘MAHA report' The Washington PostMAHA Commission report paints a dark picture of U.S. children's health NPR
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Some $500 billion in cuts to Medicare could be avoided if Congress instructs the White House budget office to disregard the reconciliation package's debt impact.
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Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Treasury, and other agencies weighed in on how to manage and regulate a CBDC.
The government is reacting in part to the explosive growth of digital currencies. About three out of ten U.S. adults currently invest in some form of cryptocurrency, or "crypto," like Bitcoin or Ethereum. These digital "coins" rely on a decentralized network of computers to verify financial transactions, cutting out third parties like banks or credit cards.
The good, the bad, and the ugly of crypto
Advocates of crypto point to its affordability, efficiency, and its ability to reach consumers with little or no access to traditional banking services. With just a mobile phone or a crypto ATM, consumers can easily send and receive digital currency, even across international borders.
On the other hand, crypto is still largely unregulated and volatile. Investors in Bitcoin, for example, saw returns of over 70% in 2021, but the currency is down almost 60% year to date. And if you send your payment to the wrong account (called a "digital wallet") there may be no way to retrieve it. Crypto has also been used for money laundering, fraud, and to fund terrorism. Several
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