No one is willing to say the bill is dead yet. Three different people following the process said late last week that they were still optimistic about the bill’s chances of passage this year. There are a few different reasons for this.
While Congress isn’t in session much this summer, most of the work that needs to happen is happening behind the scenes anyway. One person noted that staffers were still meeting to hash out the various issues, including reconciling the Senate Agriculture Committee and Senate Banking Committee versions of the bill. The Senate only needs to be in session for a few days to publicly debate the bill and vote on it.
That process, another person said, shouldn’t take that long — perhaps a few days to invoke cloture and get 60 votes to pass the bill. The House then shouldn’t take much time to pass it as well, though there are some questions around that that we’ll get to below.
Recent events — including a Supreme Court case essentially striking down independent agencies’ independence and President Donald Trump’s financial disclosures — aren’t likely to affect the ongoing negotiations that much either.
Last week, U.S. President Donald Trump filed his annual disclosure for 2025, revealing that he made $2 billion last year. Some $1.4 billion or so of that came from the crypto industry, spread across royalty payments from his memecoin company, token sales from World Liberty Financial and sales to an Abu Dhabi sheikh’s firm, among other income streams. For comparison, his 2024 disclosure reported “tens of millions of dollars” in income overall.
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