US to pass controversial infrastructure bill: House Speaker
The bill passed in the Senate in August and includes crypto-focused sections on tax reporting
US House of Representatives Speaker Nancy Pelosi said on Sunday that the controversial infrastructure bill will be voted on this week, with passage likely by Thursday 30 September.
According to the House Speaker, debate on the $1 trillion bill set to introduce some controversial definitions to the crypto sector will begin on Monday. Thereafter, legislators are then expected to vote on the bill on Thursday.
“Tomorrow, September 27, we will begin debate on the Bipartisan Infrastructure Framework on the Floor of the House and vote on it on Thursday, September 30,” the Democratic Party stalwart said in comments to reporters.
The infrastructure bill passed in the Senate in August, with amendments to contentious parts applicable to crypto shot down after a last-minute objection from one of the Senators.
While crypto-supporting legislators still seek changes to the wording of a text regarding “brokers“, the bill’s passage this week could be a blow to crypto (especially the decentralised finance (DeFi) sector).
For some crypto observers, the best outcome for Bitcoin and the market would be for some compromise to be reached as lawmakers consider the $3.5 trillion reconciliation bill currently before the House.
Pelosi is, however, convinced the infrastructure bill will pass. While speaking to ABC News anchor George Stephanopoulos, the Speaker appeared assured as she added:
“Let me just say that we’re going to pass the bill this week.”
The same conviction was voiced by US President Joe Biden, who said on Sunday that he was “optimistic about this week“.