In the News

Today, Majority Whip Tom Emmer (R-Minn.) joined Newsmax’s Wake Up America to discuss Crypto Week legislation being voted on in the House today, as well as the upcoming House vote on the rescissions package. 

Click here or above to watch Whip Emmer on Newsmax’s Wake Up America.

Whip Emmer on the GENIUS Act:

“Well, there are three bills that we're going to be addressing today. One is a dollar-backed stablecoin bill called the GENIUS Act that came out of the Senate. This is a bill that literally is about exporting U.S. dollars all around the world. It may not be as big domestically to start with, although I think eventually it will be, but think about that cab driver down in Brazil who would love to do business in U.S. dollars and right now he can't, but with a dollar-backed stablecoin, he'll be able to. This is about exporting U.S. dollars and solidifying the reserve currency status of the U.S. dollar.”

Whip Emmer on the CLARITY Act:

“The other one is called the CLARITY Act. This is a market structure bill. The problem we've had with getting new investment into this country is people don't know what regulator they're dealing with. They don't want to spend all kinds of legal fees fighting with the government over whether they're cash and they deal with the treasury, whether they're a security and they deal with the SEC, or whether they are a commodity and deal with the CFTC. This gives clarity so people understand what they have to do to do business in this country.”

Whip Emmer on the Anti-CBDC Surveillance State Act:

“And then the last one, which is my bill I've been advocating for for probably five or six years, is a prohibition of a central bank digital currency. Why is that important to our national security, Allison? Because for years, even Republicans years ago were saying, ‘Oh, we're falling behind the Chinese. They have the digital yuan.’ You know what they use that for? That is a surveillance tool. They surveil their citizens. They build social scores based on your purchases, your habits, etcetera. That is completely against any American value that we know of, and we've got to prevent our central government from ever creating this surveillance tool here in the United States of America.”

Whip Emmer on rescissions:

“We're going to pass it today and get it to the president's desk so it's law by tomorrow night…Republican House members understand that Donald J. Trump got 77 million votes. This is what the American public voted for and this is what we're going to continue to do.”