Sen.Bill Hagerty’s (R-TN) office said in a statement Sunday that Democrats, not the Tennessee conservative, are blocking the chamber from voting on vital amendments to the so-called bipartisan infrastructure bill.
The so-called bipartisan infrastructure bill, otherwise known as the Infrastructure Investment and Jobs Act, ground to a halt as Hagerty has blocked Democrats from advancing the bill without giving the chamber time to consider amendments to the $1.2 trillion, 2,702-page legislation.
Hagerty wants the chamber to weigh the impact of the legislation rather than speed through it so that lawmakers can start their August recess.
Judd Deere, a spokesman for Hagerty, said, “Senator Hagerty has been clear: he will not consent to expediting this package that is not paid for despite its promises to be, and he is not blocking the Senate from debating and voting on important amendments that could improve this bill—that’s the Democrats.”
For instance, Sen.Rob Portman (R-OH) devised a provision in the mammoth legislation that would create a $30 billion tax on the cryptocurrency industry.Lawmakers and industry insiders charge that the legislation would kill American jobs and send them overseas.Notably, Joe Biden’s White House and Treasury Secretary Janet Yellen, the former Federal Reserve chair, are lobbying hard in favor of the cryptocurrency regulation.
Sens.Cynthia Lummis (R-WY), Ron Wyden (D-OR), and Pat Toomey (R-PA) proposed an alternative solution to the Portman regulation that would allow for the cryptocurrency industry to innovate without being hampered by onerous reporting requirements.
Sen.
Ted Cruz (R-TX) came out strongly in favor of the Lummis-Wyden-Toomey proposal.
“The Senate is on the verge of passing legislation that would be TERRIBLE for cryptocurrency.The infrastructure deal contains DANGEROUS provisions that would devastate crypto and blockchain innovation.
Supporters of crypto need to make their voices heard,” Cruz wrote.
🚨🚨The Senate is on the verge of passing legislation that would be TERRIBLE for cryptocurrency.🚨🚨
The infrastructure deal contains DANGEROUS provisions that would devastate crypto and blockchain innovation.
Supporters of crypto need to make their voices heard.https://t.co/iXrcnne0tV
— Ted Cruz (@tedcruz) August 7, 2021
“Right now, supporters of crypto & blockchain are LOSING this fight that will define crypto’s future,” Cruz said.“That’s why I’m proud to cosponsor the @RonWyden , @SenLummis , @SenToomey crypto amendment.It’s a major improvement over what is in the underlying bill & a must pass amendment.”
Cruz concluded, “Given the major flaws in the underlying bill’s unworkable and devastating crypto provision, I also filed a separate amendment to strike the whole thing, in the event a bipartisan deal can’t be reached.
We have to act now to stop this.”
Given the major flaws in the underlying bill’s unworkable and devastating crypto provision, I also filed a separate amendment to strike the whole thing, in the event a bipartisan deal can’t be reached.
We have to act now to stop this.
— Ted Cruz (@tedcruz) August 7, 2021
Sean Moran is a congressional reporter for Breitbart News.Follow him on Twitter @SeanMoran3 .
Politics Bill Hagerty bitcoin Chuck Schumer Cryptocurrency infrastructure Ted Cruz.
