On July 4, 2025, President Donald Trump signed a significant tax and spending bill. This law represents a notable shift in U.S. fiscal strategy, focused on reallocating budget funds.
Signing of the Fiscal Bill
President Trump signed the bill during an Independence Day event at the White House. He emphasized the law's significance, referring to it as "the greatest victory" for his administration. The legislation passed with a narrow margin despite strong opposition from all Democrats and two Republicans.
Increase in Military Spending and Cutbacks to Social Programs
Alongside increased funding for border security and military needs, the bill cuts programs such as Medicaid and food assistance. The projected increase of $3.3 trillion in deficit over the next decade raises valid concerns among economists and the public.
Cryptocurrency Market Amid Fiscal Changes
Amid fiscal changes, Bitcoin (BTC) prices reached $108,097.90 with a market cap of $2.15 trillion as of July 5, 2025. Bitcoin demonstrated a 29.46% increase over the last 90 days, indicating its significant influence in the market.
The signing of this bill undoubtedly sparks considerable discussion regarding the future of U.S. fiscal policy and its impact on the economy and financial markets. As these changes will have long-term implications, experts are closely monitoring the situation.
