U.S. President Donald Trump has announced that the House of Representatives is ready to vote on the 'Beautiful Act', which includes tax reforms and sector initiatives.
Trump's Tax Agenda: Economic Impacts
President Donald Trump, along with Republican leaders, has expressed confidence in the House's readiness to support the 'Beautiful Act'. The reform includes air traffic modernization and maintaining tax exemptions for credit unions. Key changes involve setting a corporate tax rate of 21%, which is expected to enhance U.S. business competitiveness. Trump urged swift action following Senate approval, stating, 'I urge the House to act swiftly after the Senate’s passage of the One Big Beautiful Bill.'
Cryptocurrency Market Movements
Previous U.S. tax reforms, such as the 2017 Tax Cuts & Jobs Act, led to stock market rallies and may influence cryptocurrency prices. For instance, Bitcoin (BTC) saw a 3.10% increase over the past 24 hours, valued at $109,056.92 with a market cap of $2.17 trillion. Trading volume reached $56.45 billion within 24 hours, marking a 26.55% increase.
Expert Discussions
The Coincu research team highlights potential macroeconomic impacts as reforms progress. Historically, such legislation may boost business confidence, influencing the digital asset market.
The active actions by Congress on the 'Beautiful Act' are expected to create positive effects not only for the traditional economy but also for the cryptocurrency market.
