US News
LAST UPDATE: June 30, 2025
Senate to vote on amendments to Trump’s ‘big, beautiful bill’
The U.S. Senate is set to vote on a series of amendments to Trump’s sweeping budget and tax package, dubbed the “One Big Beautiful Bill Act.” Key proposals involve extending 2017 tax cuts, expanding military and border funding, and cutting social programs.
Insight
The amendment process—known as vote‑a‑rama—offers Senators political messaging opportunities but also highlights intra-party fractures. Success or failure could redefine the bill’s scope and shape its economic impact.
Tax Bill Would Add $3.3 Trillion to US Deficits, CBO Says
The CBO estimates the Senate version of the tax-and-spending bill would increase the U.S. federal deficit by approximately $3.3 trillion over a decade. The bill combines tax cuts with sharp reductions in Medicaid and SNAP.
Insight
This projection intensifies concerns over fiscal sustainability. While supporters argue tax cuts will spur growth, the deficit surge could pressure interest rates, raise debt costs, and limit future policy flexibility.
Senate Megabill Stuns the Clean Energy Industry With a New Excise Tax
The Senate’s bipartisan “megabill” has introduced a new excise tax on wind and solar projects that use Chinese components and accelerates the phase-out of renewable energy tax credits. Critics—including Elon Musk and clean-energy groups—warn it undermines renewables, raises consumer electricity bills, and could derail billions in planned investments (wsj.com).
Insight
The bill marks a sharp pivot away from renewable incentives, favoring traditional energy. This undermines investor certainty in clean tech, may push the U.S. behind China in the green energy transition, and heightens pressure for targeted Republican resistance.
Donald Trump’s fiscal policy and Fed attacks imperil US haven status, say economists
A Financial Times survey finds that over 90% of economists are concerned that Trump’s expansive deficits and frequent attacks on the Fed risk weakening the US dollar’s global safe-haven status .
Insight
Eroding trust in America’s fiscal and monetary institutions could diminish global demand for U.S. Treasury assets, raise long-term borrowing costs, and weaken the dollar’s financial dominance.
