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Senate passes budget package, industry welcomes borrower-friendly provisions
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Banking, Consumer Protection, Corporate Governance, Government Oversight, Industry Regulation, Legislation, Nonbank Financial
Tuesday, July 1, 2025
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The Senate passed the Republican-led tax and spending package, known as “One Big Beautiful Bill” by the narrowest of margins on July 1. Three Republicans broke party ranks to oppose the measure, resulting in a 50-50 split among voting members and Vice President J.D. Vance being called upon to cast the tie-breaking vote.
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