According to the report from the US Congressional Budget Office, the "Infrastructure Investment and Jobs Act" is set to increase US debt by $3.3 trillion over the next decade.
Increase in US Debt
The "Infrastructure Investment and Jobs Act", passed by the US Senate, aims to bolster infrastructure investments while adding $3.3 trillion to the national debt, as estimated by the Congressional Budget Office.
Economic Implications of the Bill
The economic implications of this Act span significant fiscal outcomes, notably the anticipated budget increase over a decade. Potential implications for the cryptocurrency market include regulatory adaptations that could redefine market dynamics in line with fiscal policy shifts.
BTC Market Dynamics Amid Uncertainty
As of June 29, BTC traded at $107,802.99 with a market cap of $2.14 trillion. Market activity over 24 hours showed a slight increase of 0.43%. Trading volumes saw a decrease. The Coincu research team suggests that such fiscal changes may lead to enhanced scrutiny of digital currencies.
The passage of the debt increase bill has the potential to reshape the economic landscape of the US and affect the cryptocurrency market, warranting attention from investors and market participants.
