Senate Republicans Propose New $4.2 Trillion Tax Plan

The U.S. Senate, led by Republicans, has proposed a $4.2 trillion tax and spending plan. The plan, developed with compromises among Republican factions, aims to prevent imminent tax hikes and solidify 2017 Tax Cuts and Jobs Act policies. Crapo’s plan aims to boost economic growth and provide tax relief, as stated by the Senate Finance Committee.

This tax plan matters as it addresses potentially significant increases for 62% of taxpayers if the Tax Cuts and Jobs Act expires. Enhanced economic growth could indirectly benefit digital asset markets.

Historical Context and Crypto Market Implications

According to CoinMarketCap, Bitcoin (BTC) is currently priced at $107,318.61 with a market cap of $2.13 trillion. In the last 90 days, BTC observed a positive growth of 29.25%. The circulating supply stands at 19,884,462 BTC, and trading volume over the last 24 hours is $43.72 billion. Data updated as of June 28, 2025.

Mike Crapo, Chairman, U.S. Senate Finance Committee, “This tax package will stop a $4.3 trillion tax increase, and it will make these taxes cuts permanent so that we don’t have to face another tax cliff like this in the future.”

Mike Crapo, Chairman, U.S. Senate Finance Committee, “This tax package will stop a $4.3 trillion tax increase, and it will make these taxes cuts permanent so that we don’t have to face another tax cliff like this in the future.”

Market Data and Analysis

Did you know? In 2017, the Tax Cuts and Jobs Act sparked notable rallies in U.S. equities and digital assets like Bitcoin, driven by improved risk sentiment and fiscal policies.

Analysis from the Coincu research team suggests these tax policy reforms could contribute to an enhanced economic climate, potentially fostering higher institutional liquidity. However, macroeconomic changes will shape specific impacts on digital asset sectors.

Analysis from the Coincu research team suggests these tax policy reforms could contribute to an enhanced economic climate, potentially fostering higher institutional liquidity. However, macroeconomic changes will shape specific impacts on digital asset sectors.