Trump Unveils ‘Big Beautiful Bill’ on Independence Day
On July 4, 2025, President Donald Trump signed the “One Big Beautiful Bill” (OBBBA) into law in a White House ceremony that coincided with the United States’ Independence Day celebrations.
The $3.3 trillion bill was passed with narrow support from Congress and included major tax cuts and significant changes in government spending.
According to information we quoted from Beincrypto media, one of the main aspects of this law was an increase in the national debt ceiling by $5 trillion, setting a record high in US history.
Impact on the Crypto Market
The signing of the OBBBA sparked a reaction in the crypto market. Analysts warned that a significant increase in debt could weaken the value of the US dollar, prompting investors to seek alternative assets such as Bitcoin.
Shortly after the bill was passed, the price of Bitcoin soared above $108,000, reflecting investor concerns about potential inflation and fiscal instability.
However, investors remain wary of the Federal Reserve’s policy response to this surge in debt, which could affect the sustainability of the crypto rally.
Fiscal and Social Policy Changes
The OBBBA permanently extends the Trump-era tax cuts and introduces new deductions for tips, overtime, and auto loan interest.
The state and local tax (SALT) deduction cap is also expanded for middle-income families.
However, the law also imposes aggressive cuts to social programs such as Medicaid, food stamps, and student loan subsidies.
The Congressional Budget Office projects that the law will increase the deficit by $3.3 trillion over the next decade.
Reaction and Outlook
The signing of the OBBBA marks the beginning of a new fiscal era under the Trump administration.
While some have welcomed the tax cuts and deregulation, others are concerned about the impact on social inequality and long-term economic stability.
The crypto market, particularly Bitcoin, could benefit from this fiscal uncertainty, but the sustainability of this trend will depend largely on monetary policy and the response of global financial markets.
