The post Bitcoin (BTC) Price Climbs After Trump Tells GOP Not to Worry About Deficit Spending appeared on BitcoinEthereumNews.com.

Bitcoin traded at $107,937 as of 22:22 UTC on Sunday, up 0.54% over the past 24 hours, as attention turned to fiscal policy tensions in Washington following President Trump’s latest post on Truth Social. Price action remained volatile, with BTC fluctuating between $107,194 and $108,489 during the 24-hour window, according to CoinDesk Research’s technical analysis model. On June 29, 2025, President Donald Trump posted a pointed message on Truth Social addressing Republican lawmakers amid intense debate over his sweeping tax-and-spending package. “For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before,” he wrote. This statement underscores the deep divisions within the GOP as it wrestles with the ambitious legislation dubbed the “One Big Beautiful Bill.” The bill, exceeding 900 pages, combines roughly $3.8 trillion in tax cuts with targeted spending reductions and increased funding for defense and border security. It seeks to make permanent many of the tax breaks from Trump’s 2017 Tax Cuts and Jobs Act, including eliminating taxes on tips, overtime pay, and certain auto loans. The child tax credit would rise to $2,200 under the Senate version, while deductions for seniors would increase temporarily. However, to offset these tax cuts, Republicans propose significant cuts to Medicaid and nutrition programs, sparking fierce debate within the party. Moderate Republicans from high-tax states are pushing for a higher cap on state and local tax deductions (SALT), while conservatives demand deeper spending cuts, particularly targeting Medicaid. These internal disagreements complicate efforts to secure the narrow Republican majorities needed in both chambers to pass the bill, which Democrats uniformly oppose as favoring the wealthy and worsening inequality. Trump’s social media message reflects an attempt to balance these…

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Filed under: News - @ June 29, 2025 11:23 pm