The U.S. Senate just gave the green light to President Trump’s widely discussed tax and spending bill, passing it with a narrow 51–49 vote late Saturday night
What’s in the bill, why it’s stirring controversy, and what this means for Americans.
Alongside it, a new legislative twist could have big consequences for crypto investors: a merger of the GENIUS Act with the long-awaited CLARITY Act could finally reshape crypto regulation in the U.S.
Big, Beautiful Bill” Passed With 51–49 Votes
The late-night vote showed how divided Republicans still are about parts of Trump’s plan. In the end, the bill passed 51–49, with only Senators Thom Tillis and Rand Paul voting no. Behind the scenes, party leaders worked hard to convince hesitant senators to say yes.
Vice President JD Vance even came to the Capitol in case he had to break a tie, but his extra vote wasn’t needed this time.
For Trump, who has made this bill the centerpiece of his second term, this vote showed how much he needs his party to stick together to get things done.
As the vote dragged on, Trump didn’t stay silent. He posted on Truth Social that he’s already looking to back someone to run against Senator Tillis in 2026. Trump made it clear that he wants lawmakers who stand firmly with him and his promises to voters.
What’s in the “Big Beautiful Bill”?
It includes;
- Permanent 2017 tax cuts, no taxes on tips/overtime
- Roughly $150 billion in defense and border funding
- A $5 trillion debt ceiling increase to make it happen
It cuts billions from Medicaid and SNAP, with a new $25 billion rural Medicaid fund for 2028–2032.
It also repeals green energy tax credits, phases out SALT itemized deductions, and proposes selling 1.2 million acres of federal land
What This Means for Crypto Traders
While the spending bill stole the spotlight, crypto traders are keeping an eye on the GENIUS Act, which is now moving to the House of Representatives for a vote.
Earlier, Tom Emmer, a top House member, said the GENIUS Act might only pass if it fits well with another bill — the CLARITY Act.
