Tim Scott, John Thune Push CLARITY Act July Passage as Trump Demands SAVE America Act

Senate leaders are pushing for July passage of the Digital Asset Market Clarity (CLARITY) Act as the US Congress is set to break for another state work period in a matter of weeks, with lawmakers scheduled to be out of Washington, DC until July 13.

The bill passed the Senate Agriculture Committee in January and the Senate Banking Committee in May along party lines, setting it up for consideration in the full chamber, but its path remains uncertain as negotiations continue.

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Republican leaders in the Senate, including banking committee chair Tim Scott and majority leader John Thune, said they were pushing for the chamber to pass CLARITY in July, while Senator Cynthia Lummis told Fox Business that, "We’ve been negotiating on the CLARITY Act hardcore since last Labor Day, and it’s been an arduous process."

The timeline is also affected by President Donald Trump cancelling the signing ceremony for the 21st Century ROAD to Housing Act and saying he would not sign the bill until Republicans passed the SAVE America Act, which would require voters to provide proof of US citizenship in person to register.

If Trump vetoes the legislation, Congress could override him with a two-thirds majority vote in both chambers, and the US Constitution says that if a president doesn’t sign or veto a bill within 10 days while Congress is in session, the bill automatically becomes law.

As senators return July 13, the fate of the CLARITY Act hinges on whether leadership can secure a vote before the August recess, with the 60-vote threshold described as the central problem.

One account frames the math as requiring at least seven Democrats if all 53 Republicans vote yes, while another notes that the bill needs a unified text bridging the Senate Banking and Agriculture committees, followed by a motion to proceed, floor debate, and an amendment process.

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The core dispute is whether the CLARITY Act includes a meaningful ethics framework to address President Trump’s crypto holdings, and Reuters is cited in the reporting that the holdings have generated more than $2 billion in new wealth for him since he returned to office.

Senator Cynthia Lummis floated a possible path involving language that would allow state attorneys general to sue crypto exchanges that list tokens issued by public officials in violation of the act, but the reporting says no deal has been reached and the White House has not weighed in.

In the same window, a separate fault line runs through Section 604 incorporating the Blockchain Regulatory Certainty Act, with law enforcement groups arguing the provision would impede their ability to investigate and prosecute on-chain crime.

Prediction markets and research estimates converge on lower odds as the Senate calendar tightens, with Polymarket pricing passage at approximately 44% and Galaxy Research led by analyst Alex Thorn reducing its 2026 passage estimate to 50%.

“Home / News / Crypto / Regulation & Policy / Galaxy Research Cuts CLARITY Act Passage Odds to 50% as Senate Timeline Tightens Regulation & Policy Galaxy Research Cuts CLARITY Act Passage Odds to 50% as Senate Timeline Tightens Published 29 June 2026”

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The reporting ties the downgrade primarily to scheduling realities rather than a collapse in negotiations, noting that Senate Majority Leader John Thune has signaled he wants to use the week of July 13 for the National Defense Authorization Act.

Galaxy Research’s Alex Thorn wrote that for a 60-vote bill that still needs a merged Banking-Agriculture text, a motion to proceed, floor debate, an amendment process, and then House action, "the runway is quickly declining into just a matter of weeks."

The stakes are framed in terms of whether the bill can reach the President’s desk this summer or slip into a later Congress, with one account saying missing the August window would push realistic enactment to mid 2027 at the earliest.

Republican senators Tim Scott and Cynthia Lummis continued to press for passage, with Scott arguing the legislation would establish "the rules of the road" for crypto markets and help make the U.S. the "crypto capital of the world."