While it’s premature to declare the bill is no longer viable, sources close to the matter reported late last week that there remains a sense of hope for its approval this year. Several factors contribute to this optimism.
Although Congress is not convening much this summer, the essential groundwork is being laid behind the scenes. An insider mentioned that aides continue to engage in discussions to address various concerns, including harmonizing the different proposals from the Senate Agriculture and Banking Committees. The Senate could convene for just a few days to openly debate and vote on the legislation.
One source indicated that this discussion process shouldn’t be overly lengthy, possibly requiring just a few days to secure the necessary 60 votes for cloture before moving forward. Following that, the House is also expected to act swiftly, although some uncertainties exist that we will explore shortly.
Recent developments — such as a Supreme Court ruling that challenges the autonomy of independent agencies and President Donald Trump’s financial disclosures — are unlikely to significantly derail the negotiations.
Last week, President Trump submitted his annual financial statement for 2025, revealing an income of $2 billion over the previous year. Notably, approximately $1.4 billion of that amount was sourced from the cryptocurrency sector, which includes royalty earnings from his memecoin venture, token sales via World Liberty Financial, and transactions with a firm connected to an Abu Dhabi sheikh, among other revenue streams. In contrast, his 2024 financial disclosure noted an overall income in the “tens of millions of dollars.”