(The Epoch Times)—The U.S. Senate on July 16 voted to pass $9 billion in spending cuts requested by President Donald Trump, including cuts to National Public Radio (NPR) and the Public Broadcasting Service (PBS).
The measure passed in a 51–48 vote. Two Republicans, Sens. Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska), voted against the bill. Although having voted against the bill in an earlier procedural vote, Sen. Mitch McConnell (R-Ky.) decided to back the bill. Sen. Tina Smith (D-Minn.) missed the vote due to being in hospital.
The early morning passage of the bill came after a long voting series with a flurry of amendments from Democratic lawmakers.
The passage of the spending cuts, called rescissions, marks a major political win for Trump and Senate Majority Leader John Thune (R-S.D.).
Speaking after the vote, Thune said of the rescissions bill, “It’s a small but important step toward fiscal sanity that we all should be able to agree is long overdue.”
Moments earlier, he said of what could become the first rescissions passed by Congress in 35 years, “Our country is 36 trillion dollars in debt. We can’t keep doing things the way we’ve been doing them. What we’re talking about here is 1/10th of 1 percent of all federal spending but it’s a step in the right direction.”
With its $9 billion top line in cuts, the bill represents one of the largest rescissions ever passed through the Senate under the Impoundment Control Act of 1974. It’s $400 million less than the original House-passed package, after cuts related to an anti-HIV initiative were stripped from the bill.
The Senate has historically been the most challenging hurdle for rescission bills.
Because alterations were made to the bill passed by the House on June 12, the legislation will need to return to the lower chamber for another vote.
PEPFAR and ‘Soft Power’
Most of the bill’s cuts—$7.9 billion—stem from rescissions of funding for the U.S. Agency for International Development (USAID). These are linked to several controversial international social projects undertaken during President Joe Biden’s administration, identified by the Department of Government Efficiency (DOGE).
Initially, a $400 million cut to the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) program was included in the package, but this was cut in order to win over enough votes to pass the bill.
PEPFAR, initiated by President George W. Bush with the intention of ending the international HIV/AIDS pandemic by 2030, has been a flashpoint in Republicans’ fight to pass the cuts. The program focuses on HIV prevention, care, and treatment programs in partner countries, with the aim of reducing the spread of the disease.
McConnell and Collins tied their opposition, in part, to the cuts to USAID.
During a previous Senate hearing on the bill, McConnell said that such funding was important to the United States’ ability to internationally project “soft power,” power using non-military means.
“Over my years in Senate, the biggest supporters of soft power I’ve run into have been the military generals, who are fully aware of how much more costly it is to have a war than to prevent one,” McConnell said.
“Soft power, at very little expense, goes a long way.”
Collins echoed these concerns.
Office of Management and the Budget Director Russ Vought, a leading supporter of the bill within the administration, responded that the foreign aid cuts had been carefully chosen to solely target waste and abuse, telling the panel, “This is not a fade on soft power.”
“[Secretary of State Marco Rubio and I are] going line by line in each of these programs to articulate where we believe soft power could be effective, where we think that investment on the front end will keep us out of long-term, hard power conflicts of that nature,” Vought said.
Corporation for Public Broadcasting
The other $1.1 billion comes from funding cuts to the Corporation for Public Broadcasting, which oversees NPR and PBS.
Members of both parties have had reservations about these cuts.
“The bill will starve local and rural radio stations,” Senate Minority Leader Chuck Schumer (D-N.Y.) said in a speech on the Senate floor ahead of the vote.
Sen. Mike Rounds (R-S.D.) initially said he was opposed to the bill due to the impact these cuts could have on his constituents, but was later brought into alignment with the legislation after negotiations with the president.
Collins and Murkowski have also expressed skepticism toward the Corporation for Public Broadcasting cuts.
House Wanted Passage ‘As Is’
Several lawmakers in the House have indicated their preference for the Senate to have passed the rescissions “as is” without substantial changes, as there is a July 18 deadline for final passage of the bill after which the same cuts cannot be reintroduced by the president.
House Speaker Mike Johnson (R-La.) has indicated multiple times that he would have preferred the Senate pass the bill without revisions.
“The Friday deadline looms. We’re encouraging our Senate partners over there to get the job done and to pass it as is,” Johnson said during a Tuesday leadership press conference.
Other Republicans in the House echoed the sentiment.
“The Senate needs to do its job and pass the entire $9.4 billion so that we can set the stage for even more rescissions,” Rep. Keith Self (R-Texas) said during a July 16 interview with Newsmax.
Responding to reports that the Senate would remove the cuts to PEPFAR funding, Rep. Brandon Gill (R-Texas) told The Epoch Times on July 15, “I think the Senate should take up the bill as we wrote it in the House. You know what we’re doing is really just codifying waste, fraud, and abuse [cuts] that the DOGE team found.”
Rep. Glenn Grothman (R-Va.) was critical of the Senate for the revisions.
“We’re aware that under normal circumstances, the Republicans in the Senate are not as fiscally as responsible as the Republicans in the House,“ Grothman told reporters. ”So this is disappointing but not surprising news.”
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.




