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US Senate pushes ahead on Trump tax cuts
The US Senate version of President Donald Trump’s sweeping tax-cut and spending bill will add $3.3 trillion to the nation’s debt, about $800 billion more than the version passed last month by the House of Representatives, a nonpartisan forecaster said on Sunday. The Congressional Budget Office issued its estimate of the bill’s hit to the $36.2 trillion federal debt as Senate Republicans sought to push the bill forward in a marathon weekend session. Republicans, who have long voiced concern about growing US deficits and debt, have rejected the CBO’s longstanding methodology to calculate the cost of ... (full story)
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From finance.yahoo.com|Jun 29, 2025Japan is quietly orchestrating one of the most significant crypto policy reversals in recent history, and it could reshape how major economies approach digital assets worldwide. ...
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From @DBNewswire|Jun 29, 2025|16 comments*CANADA RESCINDS DIGITAL SERVICES TAX TO ADVANCE US TRADE TALKS: BBG CANADA'S CARNEY AND PRESIDENT TRUMP AGREED THAT PARTIES WILL RESUME NEGOTIATIONS WITH A VIEW TOWARDS AGREEING ON A DEAL BY JULY 21, 2025 - STATEMENT
Canada rescinds digital services tax to advance broader trade negotiations with the United States Canada’s new government is engaged in complex negotiations on a new economic and security partnership with the United States, focused on getting the best deal for Canadian workers and businesses. Prime Minister Carney has been clear that Canada will take as long as necessary, but no longer, to achieve that deal. To support those negotiations, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, announced today that Canada would rescind the Digital Services Tax (DST) in anticipation of a mutually beneficial comprehensive trade arrangement with the United States. Consistent with this action, Prime Minister Carney and President Trump have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025. The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians. Canada’s preference has always been a multilateral agreement related to digital services taxation. While Canada was working with international partners, including the United States, on a multilateral agreement that would replace national digital services taxes, the DST was enacted to address the aforementioned taxation gap. The June 30, 2025 collection will be halted, and Minister Champagne will soon bring forward legislation to rescind the Digital Services Tax Act.
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From @financialjuice|Jun 30, 2025ECB's Knot: Banking consolidation should be left to market. ECB's Knot: Increased uncertainty due to trade issues.
From @realDonaldTrump|Jun 30, 2025|17 comments
ONE GREAT BIG BEAUTIFUL BILL, is moving along nicely! MAKE AMERICA GREAT AGAIN!
From thehill.com|Jun 30, 2025Sen. Marsha Blackburn (R-Tenn.) said Sunday that she reached a deal with Senate Commerce Chair Ted Cruz (R-Texas) on new text for a provision in President Trump’s sweeping tax ...
