President Donald Trump’s tax overhaul, called the “One Big Beautiful Bill Act,” is meeting fierce opposition from inside his own party. The legislation proposes extending the 2017 tax cuts, scrapping taxes on tips and overtime, and creating family-focused savings plans. But as internal Republican debates grow, Bitcoin sets record daily close with $110K, drawing attention to financial instability and investor uncertainty.
Medicaid Dispute Deepens as Bitcoin Record
First, the bill includes a proposed $625 billion cut to Medicaid funding over ten years. It adds work requirements for able-bodied adults without dependents, starting in 2029. These recipients would need to work or volunteer for 80 hours per month. Eligibility checks would also double in frequency, from once a year to every six months.
These changes have triggered concerns from moderate Republicans and Democrats alike. Critics warn that millions could lose health coverage. As a result, support for the bill is wavering even within GOP ranks.
SALT Cap Dispute Emerges as Bitcoin Sets Record
Next, internal party tensions have grown over the proposed increase in the state and local tax (SALT) deduction cap. The cap would rise from $10,000 to $30,000. However, lawmakers from high-tax states argue that this isn’t enough relief for their residents.
President Trump opposes any further expansion, calling it a handout to Democrat-led states. This stance has led to further division within the Republican Party. Some representatives are now threatening to vote against the bill unless the cap is raised further.
National Debt Concerns Grow as Bitcoin Record
Additionally, the Congressional Budget Office has issued a warning. It estimates the bill would add $3.3 trillion to the federal deficit over the next decade. Fiscal conservatives are especially alarmed.
They argue that the plan favors the wealthy while placing essential social services at risk. With the national debt already high, this proposal is seen by some as reckless. Calls are growing for major revisions to reduce spending and offset tax cuts.
Financial Markets React: Bitcoin Sets Record High
While Washington argues over taxes, investors are focusing elsewhere. This week, Bitcoin record with a daily close of $110K. It’s the highest on record, sparking fresh debate about the future of digital assets.
Analysts credit this rise to a surge in demand for Bitcoin-backed ETFs. At the same time, inflation and debt fears are pushing investors away from traditional markets. Many now see Bitcoin—and gold—as safer havens in an unpredictable economy.
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Investor Sentiment Shifts as Bitcoin Record
Finally, the cryptocurrency boom shows how economic anxiety can reshape financial behavior. As fiscal uncertainty grows, more people are turning to decentralized assets.
This moment, where Bitcoin sets record, may signal a broader shift in how investors manage risk. With doubts rising over the long-term effects of Trump’s tax bill, many are seeking stability elsewhere. And right now, that means cryptocurrency.
Bill’s Future Uncertain as Bitcoin Record
To sum up, the “One Big Beautiful Bill Act” faces serious challenges. Medicaid cuts and the SALT cap are causing GOP infighting. Meanwhile, Bitcoin record at $110K, reflecting global concerns over debt and inflation.
The next few weeks will be crucial. Lawmakers must decide whether to stand behind the bill or make major changes. At the same time, markets will continue watching Bitcoin—and the economy—for the next move.
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