Congress
Trump calls on House GOP to quickly adopt ‘clean’ version of Senate-passed crypto bill
President Donald Trump called on House Republicans late Wednesday to move “LIGHTNING FAST” to send Senate-passed cryptocurrency legislation to his desk, dialing up pressure on GOP lawmakers in the lower chamber to adopt the measure without any changes.
Trump wrote on social media site Truth Social Wednesday evening that the House should pass a “clean” version of the Senate bill as soon as possible. His post comes as a warning shot to House Republicans — including Financial Services Chair French Hill (R-Ark.) — who are weighing how much to change the Senate bill and whether to include it in a larger package of crypto legislation that would be sent back to the upper chamber.
“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump wrote.
The post comes one day after the Senate passed the crypto bill in question, which would create the first-ever U.S. regulatory framework for digital tokens known as stablecoins that are pegged to the value of the dollar.
House Republicans are on board with passing stablecoin legislation, but they may be reluctant to rubber-stamp the Senate’s bill, known as the GENIUS Act. GOP lawmakers in the lower chamber have introduced their own stablecoin legislation that is similar to the Senate-passed bill, but several key differences remain. The House measure cleared the Financial Services Committee in April.
“The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS!” Trump wrote. “Digital Assets are the future, and our Nation is going to own it. We are talking about MASSIVE Investment, and Big Innovation.”
Hill, who has pushed for years to advance industry-friendly crypto legislation in the House, is also weighing the best way to get multiple digital assets bills across the finish line this year. He has been considering packaging stablecoin legislation with a second, larger measure — seen as the crown jewel of the GOP-led push to boost the crypto industry — that would divvy up oversight of digital assets between market regulators.
A spokesperson for Hill, Brooke Nethercott, said in a statement Wednesday that the Arkansas Republican looks “forward to continued collaboration with our members and House leadership as we work toward a path forward.”
Some House Republicans fear that simply passing the Senate stablecoin bill — even if it is reconciled with the House version — would take momentum away from the push to adopt so-called market structure legislation, which impacts a bigger swath of the crypto industry than the stablecoin measure.
In the Senate, though, Republicans are eager to quickly notch a legislative win by getting their stablecoin bill to Trump’s desk. The bill was the subject of months of turbulent negotiations, and senators fear that a cumbersome larger crypto package would be difficult to pass through the upper chamber, where Democratic votes are needed to clear a 60-vote threshold.
Sen. Bill Hagerty (R-Tenn.), the lead sponsor of the Senate stablecoin bill, said in an interview last week that his “goal is just to put a win in place for the American public and have it for the president to sign before the Fourth of July.”
“It’s very clear to me that we have an opportunity to have a great win here for the American public right now,” he said. “If the bill were to be modified [to include market structure legislation], it would have to come back to the Senate for a lot of work.”
Congress
Key GOP centrist Rep. Don Bacon will not seek reelection
Rep. Don Bacon will not seek reelection and plans to retire at the end of his term, according to two people familiar with his plans. The announcement is expected Monday.
Bacon is a key GOP centrist in the House and represents one of only three Republican-held districts that Kamala Harris won in the 2024 presidential election.
Congress
Rep. Dusty Johnson to announce a bid for South Dakota governor Monday
Rep. Dusty Johnson will announce a bid for South Dakota governor Monday, according to two people granted anonymity to speak about private conversations.
Johnson has served as South Dakota’s sole House representative since 2019. He’s been a key player in major deals on Capitol Hill in recent years as the head of the Main Street Caucus of Republicans.
Johnson, long expected to mount a bid for higher office, will make the announcement in Sioux Falls.
Johnson is the eighth House Republican to announce a run for higher office in 2026. Reps. Andy Biggs of Arizona, Byron Donalds of Florida, Randy Feenstra of Iowa, John James of Michigan and John Rose of Tennessee are also seeking governor’s offices; Reps. Andy Barr of Kentucky and Buddy Carter of Georgia have announced Senate runs.
Congress
Senate slated to take first vote on megabill Saturday
Senate Republicans are planning to take an initial vote at noon on Saturday to take up the megabill.
Leadership laid out the timeline during a closed-door lunch on Friday, Sen. John Kennedy (R-La.) and John Hoeven (R-N.D.) said after the lunch. A person granted anonymity to discuss internal scheduling confirmed the noon timeline but cautioned Republicans haven’t locked in the schedule yet.
During the lunch, Speaker Mike Johnson pitched Senate Republicans on the tentative SALT deal, according to three people in the room. He said the deal was as good as Republican can get, according to the people.
Johnson noted he still has “one holdout” — an apparent reference to New York Republican Nick LaLota, who said in a brief interview Friday that if there was a deal, he was not part of it.
Leaving the meeting, Johnson was asked by reporters whether he thought Senate Republicans would accept the SALT deal. “I believe they will,” he replied. “They’re going to digest the final calculations, but I think we’re very, very close to closing that issue.”
In the meeting, Treasury Secretary Scott Bessent and Johnson laid out details of the fragile agreement, telling Senate Republicans the House SALT deal would be cut in half, to total roughly $192 billion. They restated it would raise the SALT cap to $40,000 for five years under the current House-negotiated SALT deal, and snap back to the current $10,000 cap after that.
In related matters, Kennedy and Hoeven also said the Senate will keep its provider tax proposal but delay its implementation, which Republicans believe will help it comply with budget rules. and Johnson also told Senate Republicans that he wants to do another reconciliation bill — which senators took to mean they would get another opportunity to secure spending cuts or provisions passed that have been squeezed out of the megabill.
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