US EditionTrump budget reaction, reconciliation work headline this week at Capitol
- President Donald Trump released a 'skinny' version of his budget request on Friday ahead of fiscal 2026 appropriations hearings this week.
- This budget follows ongoing House Republican markups of a fiscal 2025 reconciliation bill and includes controversial cuts that have drawn skepticism even among Republicans like Senator Susan Collins.
- Meanwhile, Senate Republicans prioritize the GENIUS Act, a stablecoin regulatory bill led by Senator Bill Hagerty aimed at modernizing payments and protecting the U.S. Dollar, though it faces significant Democratic opposition.
- On May 3, nine Senate Democrats, led by Ruben Gallego, expressed their opposition to the existing stablecoin bill, citing insufficient protections, and indicated they would not back efforts to advance the legislation without further revisions.
- This opposition raises uncertainty about the bill's future and underscores broader challenges in passing bipartisan crypto regulation while Congress advances budget, appropriations, and reconciliation discussions this week.
24 Articles
24 Articles
The Columbian
Trump budget reaction, reconciliation work headline this week at Capitol
WASHINGTON — Lawmakers will be discussing and debating budgets, appropriations and reconciliation this week — and the Senate may open a debate on regulating digital assets known as stablecoins. Read more...
Senate Dems divided ahead of key crypto vote
The NewsSenate Democrats are pumping the brakes on legislation that would create rules for stablecoins, a type of cryptocurrency pegged to assets like the US dollar, ahead of a key vote expected as soon as Thursday. Following reporting that an Emirati fund would strike a deal with the Trump family’s crypto firm, Senate Majority Leader Chuck Schumer urged colleagues in a regularly scheduled meeting Thursday against putting their weight behind the…
Chairmen Hill & Steil Create Pathway to Preserve American Financial Dominance
“If we get this right, it sets us up to be able to outcompete the rest of the world.” WASHINGTON, DC – U.S. House of Representatives Financial Services Committee Chairman French Hill (AR-02) and Administration Committee Chairman Bryan Steil (WI-01) appeared before a breakfast meeting of The Ripon Society this past Thursday morning to discuss the legislation they are developing to establish regulation of payment stablecoins, the Stablecoin Transp…
Latest Stablecoin Showdown: Crypto Bill Faces Collapse as Senate Democrats Withdraw Support in Cryptocurrency - Doulitsa Press Release Submission
You are here: Home / News / Stablecoin Showdown: Crypto Bill Faces Collapse as Senate Democrats Withdraw Support Nine Senate Democrats who previously backed the bill now oppose it, citing unresolved concerns. The U.S.’s first stablecoin regulatory framework faces collapse just days before a key Senate vote. While GOP leaders push for U.S. crypto dominance, Democrats demand stricter safeguards, and Trump-linked stablecoin plans add political tens…
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