The discussions of the American Senate on the mega-taxi bill and the expenses of President Donald Trump could spend the whole night while the senators seek to form changes, including some that would affect the crypto.
The Senate vote – where legislators can propose amendments that are quickly voted – for the Big Bill Act of the Republicans, since 17 hours at the time of publication, the senators of the two parties have called upon hundreds of modifications.
The vote could go in the early hours of Tuesday, local time in Washington, DC, because Trump wants the bill to be adopted by Friday, July 4.
The Chamber adopted the bill in May with a vote from 215 to 215 to 214, and the thin majority of Republicans means that it could also be summed up in the wire in the upper room.
Lummis is looking for cryptographic tax changes
Republican senator Cynthia Lummis proposed an amendment which, according to her, was aimed at putting an end to the crypto “tax treatment” and that “will guarantee that Americans can use digital assets without fear of tax violations”.
“For years, minors and stakers have been taxed twice. Once when they receive block rewards, and again when they sell it. ”
The Lummis amendment would give up taxes on cryptographic transactions of less than $ 300 with a total annual ceiling of $ 5,000, including Stablecoins, according to an explanatory sheet of the Lummis office seen by Cintelelelegraph.
Other provisions of the amendment would exclude most of the cryptography loan agreements by being imposed and stipulating that the crypto gained from air coats, exploitation and development is not taxable before the sale.
Another provision would also apply the 30 -day washing sales rule in Crypto, which would prohibit the sale of a digital asset for a loss and replace it with a similar asset 30 days before or after the sale.
Promotional amendment of the abatual political crypto
Earlier Monday, the Senate shot down an amendment supported by Democrats who would have prohibited government representatives and their families from offering or promoting a range of digital assets.
The amendment – supported by the Democratic senators Jeff Merkley, Elizabeth Warren and Jack Reed – would prohibit the president, the vice -president, the members of the congress and a host of other government officials to own or promote a cryptocurrency, the same, token, token, token or to be complained.
This ban would have been extended to the spouse and children of these officials, and in particular former employees of the special government – such as Elon Musk – up to a year after the end of their role.
Lummis was one of the legislators who shot the amendment and declared in remarks on the Senate soil that she appreciated the “concerns concerning ethics”, but said that the proposal “would inflict serious damage to American innovation and competitiveness”.
She added that the amendment “goes too far” by applying restrictions to the family of government representatives, and if the United States had adopted a similar law “in the first days of the Internet, we would have sent a clear message that America is closed for business”.
Musk promises a new political party if Bill adopts
Musk, the former Trump cost reduction tsar which then entered an online spit with the president about the “Big Beautiful Bill”, rekindled the quarrel, saying on X that he would form a new political party if the bill is adopted.
“If this crazy spending bill, America’s festival will be formed the next day,” Musk wrote to X on Music on Musk.
“Our country needs an alternative to the UNIPARTY Democrat-Républicain.”
In relation: Trump’s major bill could trigger a crisis in American debt and Bitcoin Boom
The boss of Tesla challenged the allocation of public spending in the bill, which should add 3.3 billions of dollars to the national debt over the next 10 years, having called it a “disgusting abomination”.
Musk, the richest man in the world, helped finance Trump’s campaign but has previously threatened in a separate article which he will seek to overthrow the legislators who supported the bill.
“Each member of the Congress who campaigned on reducing public spending, then immediately voted for the highest increase in the debt in history should suspend their heads!” Musk wrote.
“They will lose their primary next year if this is the last thing I do on this earth,” he added.
Review: American risks are “on the front” on the Bitcoin reserve by other nations – Samson Mow
