Trump faces 10-day deadline on housing legislation containing CBDC prohibition
Following its passage through the House of Representatives last week, the 21st Century ROAD to Housing Act, a bipartisan housing measure, now awaits Donald Trump's decision and includes a provision that prohibits a US CBDC through 2030.
President Donald Trump is facing approximately 10 days to make a determination on whether he will sign into law bipartisan housing legislation that includes a prohibition on a central bank digital currency (CBDC), following his statement that he intended to make a controversial voting bill his priority.
Based on multiple reports, the 21st Century ROAD to Housing Act was transmitted to Trump's desk on Monday by House Speaker Mike Johnson, initiating a 10-day period for the president to make a choice to disregard, approve or reject the legislation according to the US Constitution, with Sundays excluded from the count. The legislation, which was approved by the House of Representatives last week, contained provisions preventing the Federal Reserve from issuing or creating a CBDC "or any digital asset that is substantially similar" through the conclusion of 2030.
According to reports, Trump characterized the legislation as a "yawn" and used sarcasm when describing the circumstances as a "big deal." The president scrapped the planned signing ceremony scheduled for Wednesday for the bill, stating that Congressional Republicans ought to concentrate their efforts on enacting the SAVE America Act. This legislation would mandate that voters present proof of US citizenship in person for registration purposes, which could potentially result in the disenfranchisement of millions of individuals.
"We should be celebrating a bipartisan housing law. Instead, we have a call to action. Mr. President: sign the damn bill."
Senator Elizabeth Warren
Senators on state work periods, chamber set to consider market structure
On Friday, the US Senate commenced state work periods, with members of Congress anticipated to reconvene by July 13. According to the chamber's calendar, lawmakers have approximately four weeks available to take up the Digital Asset Market Clarity (CLARITY) Act prior to another scheduled state work period in August.
In March, Trump declared that he would "not sign other bills" unless the SAVE America Act received passage, though he also published a social media post indicating his support for CLARITY. In the event that the president chooses to veto the bill, Congress maintains the authority to override his decision with a two-thirds majority vote in both chambers.