Senate, House and tax code
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WASHINGTON (AP) — The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers.
Federal student loan borrowers could benefit from the extension of a rule regarding employers helping workers pay off their loans.
Top Senate Republicans are running into some resistance from several key senators about the details of President Donald Trump’s “big beautiful bill,” potentially complicating plans to deliver that package by their own July 4 deadline.
The bill — a generational transformation of Vermont’s education system — still requires a majority vote in the House.
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The Senate Committee on Finance has unveiled its amendments to the One Big Beautiful Bill Act, which was approved by the House of Representatives in May. It includes a proposal to "terminate" the IRS Direct File, as well as investigating whether that and the Free File program could be replaced.
The Senate’s version of President Donald Trump’s tax bill calls for a $10,000 cap on the state and local tax deduction — a placeholder figure as Republicans remain divided over the valuable tax break.