The Republican-controlled House of Representatives passed a sweeping multitrillion-dollar package of tax cuts and government spending on Thursday, delivering a key legislative victory to President Donald Trump.
The bill advanced to Trump’s desk following a tense 24-hour standoff marked by intense negotiations and intra-party pressure.
The final vote, 218-214, largely followed party lines and came just one day ahead of the president’s July 4 deadline. The legislation concludes a grueling four-month battle filled with ideological rifts and procedural clashes between the House and Senate. With slim majorities in both chambers, Republicans had little room for dissent as they pushed the bill through.
The package is expected to increase government borrowing significantly over the coming years. Analysts suggest this could lead to a weaker U.S. dollar and rising inflation, conditions that often fuel interest in alternative assets like Bitcoin. As fiscal policy becomes more expansionary, investors may increasingly turn to decentralized digital currencies to hedge against dollar depreciation and long-term debt concerns.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/house-passes-trillion-dollar-tax-bill-sparking-bitcoin-hedge-narrative/