Congress
Landmark crypto bill moves closer to passage in Senate
Landmark Senate cryptocurrency legislation cleared another procedural hurdle on Wednesday, inching the upper chamber closer to a vote on final passage following weeks of delays and hiccups.
The upper chamber voted 68-30 to move forward on a substitute amendment that includes an array of changes to the original bill Republicans agreed to last month in order to win over the Democratic support necessary to pass the legislation.
The bill, led by Sen. Bill Hagerty (R-Tenn.), would create the first-ever U.S. regulatory framework for digital tokens known as stablecoins that are pegged to the value of the dollar.
Hagerty said on the Senate floor the legislation “takes a common-sense, bipartisan approach to regulating stablecoins.”
Democrats have been divided over the bill. Sen. Elizabeth Warren, the party’s leader on the Senate Banking Committee, has led the opposition, saying on the floor Wednesday that the legislation “is riddled with loopholes and contains weak safeguards for consumers, national security and financial stability.”
Eighteen Democrats broke with Warren and Minority Leader Chuck Schumer (D-N.Y.) to advance the motion Wednesday — including Sens. Andy Kim of New Jersey and John Hickenlooper of Colorado, who voted “no” on the last procedural motion on the bill. Sen. Lisa Blunt Rochester (D-Del.) flipped to a “no” on Wednesday after supporting the previous procedural motion.
The vote sets the Senate up to adopt the new base text and then begin voting on the underlying bill later this week. It looks increasingly unlikely that Majority Leader John Thune (R-S.D.) will allow further votes on amendments.
Thune has tried for weeks to strike a deal on amendments that would allow the chamber to proceed more quickly to a vote on final passage, with votes on provisions offered by members. But a push by Sen. Roger Marshall (R-Kan.) to attach controversial legislation that aims to crack down on credit card swipe fees has complicated the path forward, with supporters of the crypto bill fearing that it would become a poison pill to the underlying legislation. Marshall was seen speaking on the Senate floor Wednesday to Sen. Dick Durbin (D-Ill.), who co-leads the credit card legislation.
If no amendment deal or time agreement comes together — which looks likely — the Senate could vote as soon as Monday on final passage of the bill.
Thune said on the Senate floor Wednesday that “it’s time to move forward and pass this legislation.”
“The version of the GENIUS Act that we will invoke cloture on today reflects months of hard work and negotiations from members on both sides of the aisle,” he said.
Congress
Megabill reading wraps up after nearly 16 hours
Senate clerks have completed a nearly 16-hour reading of the GOP’s 940-page megabill. Clerks began reading the text aloud at 11:08 p.m. Saturday and finished Sunday at 3:03 p.m.
By refusing to waive chamber rules allowing for reading, Senate Democrats hoped to create an opportunity to highlight some of the most unpopular issues in the legislation. Now, under Senate rules, there will be 20 hours of the debate evenly divided between Democrats and Republicans.
Democrats are expected to use their full 10 hours, while Republicans are expected to take only a couple hours. That would mean the vote-a-rama — a marathon series of amendment votes — will begin sometime early Monday morning, though senators could agree by unanimous consent to delay it.
The GOP megabill is by no means finalized. Party leaders continue to negotiate to tweak the bill in ways that will win 51 votes in the Senate while also garnering enough votes to pass in the House later this week without further modifications. Republicans also continue to deal with the chamber’s parliamentarian, who continues to review whether parts of the bill comply with the budget rules the GOP is using to pass the bill along party lines.
Congress
White House eyes Kentucky state senator for Massie challenge
White House officials will host Kentucky state Sen. Aaron Reed in the coming weeks for a discussion about challenging GOP Rep. Thomas Massie in next year’s Republican primary, according to two people granted anonymity to describe the private plans.
President Donald Trump and his political operation have been searching for a candidate to challenge Massie over his opposition to the president’s “big, beautiful bill” and his strike on Iran’s nuclear facilities. Trump political advisers Chris LaCivita and pollster Tony Fabrizio have launched a super PAC directed at defeating Massie that’s already running a TV ad attacking the seven-term incumbent.
Massie is embracing the challenge, fundraising off MAGA’s slights and telling reporters last week he raised $120,000 in a single day off of Trump’s threats to campaign “really hard” against him.
Massie — who previously endorsed Reed for state Senate, and whom Reed in return had called “one of America’s greatest Congressmen” — did not immediately return a request for comment. Reed, a former Navy SEAL, was first elected to the Kentucky state house last year.
Congress
Thom Tillis says he will retire following Trump attacks
Sen. Thom Tillis, a two-term North Carolina Republican who was expected to contest one of 2026’s toughest Senate races, said Sunday he will not seek re-election.
Tillis made the announcement after voting “no” on a procedural vote to advance President Donald Trump’s “big, beautiful bill” — the cornerstone of his domestic policy agenda. Trump subsequently attacked Tillis in a series of social media posts.
“In Washington over the last few years, it’s become increasingly evident that leaders who are willing to embrace bipartisanship, compromise, and demonstrate independent thinking are becoming an endangered species,“ Tillis said in a statement.
He continued: “As many of my colleagues have noticed over the last year, and at times even joked about, I haven’t exactly been excited about running for another term. That is true since the choice is between spending another six years navigating the political theatre and partisan gridlock in Washington or spending that time with the love of my life Susan, our two children, three beautiful grandchildren, and the rest of our extended family back home. It’s not a hard choice, and I will not be seeking re-election.”
Tillis’ retirement sets up what could be a wild and crowded GOP primary in the Tar Heel State. On the Democratic side, Rep. Wiley Nickel is already in the race, and national party leaders are hoping ex-Gov. Roy Cooper enters the race.
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