US debt could be shot by driving Bitcoin as a value refuge.
The 5% tax on remittances of the regulations would accelerate the use of BTC for global transfers.
The US Senate approved on Saturday night the massive budget bill of President Donald Trump called “Great and beautiful bill” or One Big, Beautiful Bill. It is a measure that threatens to add billions of dollars to the nation’s deficit and that, indirectly, enlivens the flames of the Bitcoin market (BTC) whose price today exceeded 108 thousand dollars per unit.
The legislation advanced after overcoming a key procedural obstacle in an adjusted vote of 51-49, bringing the country closer to A fiscal reality that could devalue the dollar and catapult digital assets As the main value shelter.
Although the text of more than 1,000 pages does not mention Bitcoin, its economic impact unleashes speculation. The project proposes to make the tax cuts of the Trump’s first mandate permanent, inject 350,000 million dollars to national security to finance its mass deportation agenda and, according to the Congress Budget Office (CBO), would raise debt to historical levels. This expansive fiscal policy erodes confidence in the dollar and pushes investors towards assets with limited offer, such as Bitcoin.
The initiative proposes to raise the ceiling of the federal government debt to 5 billion dollars (the bill approved by the House of Representatives last month was 4 billion dollars). It also includes the campaign promises of President Trump, such as exempting taxes from tips and overtime and providing a $ 1,000 savings account for newborns.
On the other hand, the bill introduces a new 5% tax to remittancesa measure that could force millions of people to abandon traditional bank channels and adopt BTC or STABLECINS to make faster and more cheap international transfers, thus avoiding the new rate, if approved.
It is taken into account that the procedural vote is the first step in the process of processing a bill, since it determines whether the next step, such as discussion or vote.
Some critics, such as Elon Musk, have described the bill as A “abomination” by his Excessive expense and implicit regulation. This is because it indicates a radical change in the way in which the federal government addresses digital infrastructure, the governance of the AI and national cyber -defense. Together, these actions are redefining the line between public sector accountability and centralized federal control in the technological ecosystem.
After all, the progress of the project was not unanimous. Two Republicans, Thom Tillis and Rand Paul, joined the Democrats to vote against. Tillis denounced the cuts to Medicaid, which according to the Congress Budget Office would leave 12 million people without insurance, while Paul criticized the uncontrolled increase in spending. And now Musk criticized The law cataloging it as something “crazy and destructive”.
With the deadline of July 4 on the horizon, the Congress accelerates to take the project to the Trump desktop. While the legislators discuss the final amendments, the market observes carefully, not only for tax cuts, but also because of the potential “indirect stimulus” that this monumental law could mean for the era of digital finances, as we have been informing in cryptootics.
