- Trump’s tax reform faces Senate scrutiny, unnamed advisor claims 75% chance of capital gains elimination.
- Impact on crypto if capital gains taxes change remains uncertain.
- Potential economic growth of $750 billion over the next decade.
The One Big, Beautiful Bill seeks to make the 2017 tax cuts permanent and expand small business deductions, lifting the SALT cap from $10,000 to $40,000. The bill passed the House and is under Senate review with no formal announcement of capital gains tax elimination. There is speculation that a Trump advisor indicated a 75% probability of changing capital gains rates, but no verifiable statement exists. The bill projects significant GDP growth with potential implications for cryptocurrencies if capital gains taxes are altered. Overall, key adjustments could lead to a $2.4–$3 trillion increase in deficits over a decade.
The One Big, Beautiful Bill is set to make the 2017 Trump tax cuts permanent for individuals and corporations. — Donald J. Trump, Former President
If capital gains taxes were removed, digital asset markets could see substantial changes. Key crypto assets like Bitcoin and Ethereum would be affected, though the current draft lacks direct crypto-specific provisions. Historical tax acts have influenced crypto, yet this bill’s effects remain speculative. Observers await Senate outcomes and potential amendments. While financial impacts loom large, the bill’s ultimate form remains uncertain amidst tax reform discussions in Senate.
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