0
0
News

Senate Narrowly Passes Spending Bill Poised to Add Trillions to National Debt

With Trump flexing his strength for quick passage, House Republicans still appear wary to sign off on the bill in current form.
0
0
Jul 2, 2025 • 1 min read

U.S. Senate Republicans narrowly passed a controversial spending bill despite concerns over its impact on the national deficit.

What’s the Scoop?

  • Narrow Senate Approval: The bill passed with Vice President JD Vance casting the tie-breaking vote after intense 24-hour negotiations.
  • Deficit Debate: The bill could add $650 billion annually to the national deficit, raising concerns among fiscal conservatives and public critics.
  • Social Program Cuts: The legislation includes steep cuts to Medicaid and food subsidies, provoking backlash from Democrats and moderate Republicans.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.