Floor Statements

I ask for the yeas and nays.

Mr. President, I rise to oppose S. 2965. This bill would impair Treasury's ability to support an important ally in South America, a region this administration has rightly prioritized.

Argentina has the third largest economy in Latin America and has been a strong partner in supporting U.S. security and economic goals. Eliminating Treasury's ability to use the Exchange Stabilization Fund to support this important ally is unnecessary. I, therefore, oppose this bill and urge my Senate colleagues to do the same.

I object.

Mr. President, as the junior Senator from the great State of South Carolina, it is my honor to recognize His All Holiness Bartholomew, the Ecumenical Patriarch of Constantinople. Throughout his life, Ecumenical Patriarch Bartholomew has embodied the values of faith, justice, and unity, offering an inspiring example of what it means to lead with conviction and humility. His ministry has encouraged many around the world to pursue peace and to live lives grounded in purpose and hope.

Each year, I host the South Carolina Prayer Breakfast, a nonpartisan, multi-faith gathering where South Carolinians come together to reflect on our shared values and the vital role faith plays in public life. This tradition reminds us that, even in challenging times, faith has the power to unite communities, to heal division, and to call us toward reconciliation and renewal. That same spirit is at the heart of Patriarch Bartholomew's life and ministry. His steadfast call for dialogue, compassion, and reconciliation speaks directly to the challenges we face today as we work to remain one Nation under God.

I ask my colleagues to join me in honoring Ecumenical Patriarch Bartholomew for his tireless efforts and leadership to build bridges of understanding across nations and faiths. May his example continue to inspire us to live with courage, to serve with compassion, and to remain committed to the good of our country and the world.

Mr. President, as the junior Senator from the great State of South Carolina, it is my honor to recognize and congratulate Newberry Health on reaching a remarkable milestone: 100 years of dedicated service to the people of Newberry County and the broader South Carolina community.

Since its founding in 1925, Newberry Health has stood as a pillar of excellence. It has evolved from a modest local healthcare provider into a comprehensive medical institution that has touched countless lives throughout the State. Now, for an entire century, this organization has embodied the values of compassion, medical excellence, and unwavering commitment to community health. For decades, the leadership, physicians, nurses, staff, and volunteers have shown a deep dedication

to providing high-quality and personalized healthcare. Newberry Health has been instrumental in advancing public health initiatives, supporting rural health, and fostering community partnerships for greater health outcomes.

I ask my colleagues to join me in congratulating Newberry Health on this extraordinary milestone. Their century of service represents the best of community healthcare. It is my hope that their next 100 years continue to be equally rooted in service to the people of South Carolina.

Mr. President, today I share my gratitude with Rabbi Dr. Ari Berman, president of Yeshiva University, for his prayer for the Senate and for our country.

Faith and education together have been powerful forces for good in America. That truth is reflected in the mission of Yeshiva University, which joins knowledge with character by preparing young men and women to lead with integrity, serve with compassion, and strengthen their communities.

At a time of rising anti-Semitism on college campuses after the October 7 attack on Israel, Rabbi Berman founded a coalition of more than 100 university presidents--leaders united against terrorism and hate.

For more than a century, Yeshiva has shown that true education does more than expand the mind. It shapes character, builds responsibility, and equips the next generation to meet the challenges of their time.

I also want to give special recognition to my friend Anita Zucker for her dedication as a trustee of Yeshiva University, for her service to South Carolina, and for her commitment to education that strengthens our country.

May Rabbi Berman's words in the Senate Chamber, and Yeshiva's mission every day, continue to inspire faith, courage, and hope for the future of America.

Mr. President, as the junior Senator from the great State of South Carolina, it is my pleasure to honor the legacy and extraordinary work of the late Sue Veer from Greenwood, SC. Sue was the president and CEO of Carolina Health Centers, Inc., a community health center serving over 26,000 patients in rural Greenwood, SC. Sue was born in Springfield, OH, and raised in Florida. She earned her B.A. from Carlow University, attended Penn State University, and later received her MBA from Winthrop University. She is survived by three children, nine grandchildren, and a wide circle of extended family and friends.

She previously worked at Children's Hospital in Pittsburgh and Grand Strand Regional Medical Center in Myrtle Beach, SC. In addition to leading Carolina Health Centers for 19 years, she was a member of the executive committee for the National Association of Community Health Centers, NACHC, helped to lead the NACHC 340B Working Group, and served as a member of the board of directors for the South Carolina Primary Health Care Association.

Veer gained recognition both across South Carolina and nationally for her expertise in community health centers and the 340B Drug Pricing Program. She often traveled to Washington, DC, to meet with my office and other congressional offices on health policy. She testified numerous times in committees in both the House and the Senate.

Veer once said, ``Nothing in the professional realm has brought greater purpose to my life than participating in the process of ensuring everyone has access to comprehensive health care, along with the knowledge and motivation for them to seek better health and well- being for themselves and those they love and care about.''

Today, it is my pleasure to recognize the late Sue Veer and her dedication to making a difference in the health of Greenwood, SC, and our Nation.

Mr. President, I rise today to honor the

long and exceptional career of Deputy Chief Carl ``Spike'' Benton, who has served the Charleston County EMS for over 42 years.

Raised in North Charleston, SC, Benton began his career with Charleston County EMS in 1983 and has since become a steadfast leader and mentor. Twice named Paramedic of the Year, he has received numerous awards for clinical excellence and commendations from law enforcement agencies, the U.S. Secret Service, and the South Carolina College of Emergency Physicians.

Beyond his clinical skill, Benton has shaped generations of EMS providers, serving as senior crew chief, shift supervisor, and deputy chief. He has played an instrumental role in shaping Charleston County EMS into one of the finest EMS agencies in the country. His leadership has inspired and guided countless providers, many of whom now serve as leaders in medicine, public safety, and government.

In 1996, Benton's vision and initiative led to the creation of the TEMS special team, a tactical EMS team that built bridges between first responder agencies and ensured coordinated care during high-risk operations. Over the course of more than three decades as its commander, he has supported visits from four U.S. Presidents, multiple Vice Presidents, and numerous dignitaries, demonstrating not only his skill but also his courage and steady leadership.

Deputy Chief Benton's career reflects the Charleston County EMS motto, ``We Care.'' His career is a testament to that simple but profound promise. His leadership, courage, and compassion have saved lives, strengthened his community, and set a standard of excellence that will endure long after his retirement.

Mr. President, today I wish to recognize and honor the service of South Carolina State Senator Roger A. Nutt.

A man of faith and a lifelong resident of Spartanburg County, Senator Nutt has devoted nearly 15 years of his life to public service, advocating for values and policies that build a better future for our families.

During his service on the Spartanburg County Council, in the South Carolina House of Representatives, and now in the State senate, Senator Nutt has brought the practical, technical perspective of a private sector engineer to the work of governing. He has used his experience to make thoughtful, informed decisions and stood up for conservative principles that have improved the lives of South Carolinians.

His tenure has been marked by steady leadership, genuine heart for service, and a deep dedication to the people of the Palmetto State; yet his impact extends well beyond the halls of government.

Senator Nutt has faithfully served his home church, from leading worship to guiding others in the study of Scripture. His Christian faith shaped both his public and private life, and our State is better off because of it.

As he prepares for a new chapter, I want to share a few of his own words: ``[ . . . ] we will face this trial with faith in the grace of God that has sustained our lives, our marriage, and my career in public service for nearly fifteen years.''

Indeed, the God who created him and sustained him through every valley and every peak will continue to be near to him, and the prayers of countless South Carolinians are with him and his family.

He has represented a high standard of what it means to lead and serve, and it is a privilege to honor Senator Nutt for his years of public service to the people of South Carolina.

Mr. President, I rise today to talk about two important topics. One is the loss of a remarkable South Carolinian. Mr. Lloyd Wayne Coppedge of Myrtle Beach went to be with the Lord on July 19 at the young, spry age of 80. Lloyd Coppedge was a great American, a great friend of mine. He was a devoted husband, father, grandfather, great-grandfather, and a dedicated friend.

He had a business career marked by both heart and integrity. Lloyd purchased Wolverine Brass in Myrtle Beach, where he not only led the company to success but also created a work culture built on compassion and respect.

His legacy lies in the lives he has touched, whose lives are better because of him. Lloyd was a giant of a man, and he will be missed by me and thousands and thousands of South Carolinians.

Mr. President, I rise today to honor the life of a truly exceptional man, Mr. Lloyd Wayne Coppedge of Myrtle Beach, SC, who passed away on July 19 at the age of 80, surrounded by his beloved family and friends.

Born in Abilene, TX, Lloyd was a devoted husband, father, grandfather, great-grandfather, and friend. After earning a degree in accounting from Texas Tech, he pursued a successful business career marked by both heart and integrity.

In 1988, Lloyd purchased Wolverine Brass in Myrtle Beach, where he not only led the company to success but also created a workplace culture built on compassion and respect. He knew every employee and their family members by name and treated them as if they were his own family.

His entrepreneurial spirit also had a significant impact on the restaurant industry, where, as a partner in Divine Dining, he helped grow a beloved local institution while continuing to uplift those around him through his generosity and leadership. This year, Lloyd turned 80 and continued to work daily in the restaurant business until weeks before his passing.

Lloyd's most significant legacy, however, lies in the lives he touched. From his wife Judi and daughters Tracie and Allison, to his grandchildren and great-grandchildren, as well as the many friends and ``adopted'' family members whose lives were better because of him.

Lloyd Coppedge led with kindness, gave without hesitation, and inspired by example. He was the kind of friend you could count on, a quiet guardian angel in the lives of many. May we all strive to carry his spirit forward with grace, compassion, and unwavering integrity in the way we treat others.

Mr. President, I urge my colleagues to oppose this amendment.

Section 30001 is purely budgetary and changes the CFPB's funding cap from 12 percent to 6.5 percent. It would provide the Agency with ample funding to perform its statutory mandate. The funding available to the Agency will grow each year as it is adjusted for inflation.

There is nothing more budgetary than Congress deciding the funding level of an Agency. I ask my colleagues to vote no on this amendment.

Mr. President, the pending amendment numbered 2414 would cause the underlying legislation to exceed the Banking Committee section 302(a) allocation of the new budget authority and outlays; therefore, I raise a point of order against this measure pursuant to section 302(f) of the Congressional Budget Act of 1974.

Motion to Waive

Mr. President, I really like my good friend from the great State of Louisiana, and Scooter's cousin Bubba called me recently. I got to tell you that there is no doubt in my mind that the importance of the Defense Production Act is undeniable and specificity is a necessary component for us to have our oversight, and that is why this administration--unlike the last administration--has committed to making sure that we understand how the resources in the DPA will be spent.

We have that commitment on a quarterly basis to receive the necessary information so that we understand, with great clarity and transparency, how the dollars within the DPA will be spent.

But here is what we also know, that we remain reliant on China for critical minerals. Here is what we know, that the United States of America, the ``City on the Hill,'' remains dependent on foreign powers for our necessary resources. We are not self-reliant in areas that matter the most to the American people and, frankly, to America's future.

Now, you can think of this as just hyperbole, but the fact of the matter is clear when you look back to recent issues like COVID and PPE. We were begging China to help the American people. We were begging China for medicine, masks.

We cannot allow this great Nation to be dependent on other nations. We must become more self-reliant. And in the spirit of self-reliance, this administration--whom I will say I trust President Trump. I trust his word to produce the results we need for this Nation to make sure that we are self-reliant, and I trust the President to produce the information that will satisfy my good friend Senator Kennedy.

But let me close with this. We need the DPA, and we need the funding at the levels requested. We must make sure we always have the resources to produce for ourselves if there is another COVID.

In the same way that we used the DPA to build levies and floodwalls after Hurricane Katrina, we need to make sure we have the resources in place for natural emergencies. In the same way that the DPA was used to help protect servicemembers who were deployed overseas from IEDs, we need the DPA.

So I ask my colleagues to vote no on this amendment. The pending amendment does not produce a change in outlays of revenues.

Point of Order

I raise a point of order under section 313(b)(1)(A) of the Congressional Budget Act of 1974.

Mr. President, let me first thank Senator Graham for your thoughtful comments and, frankly, standing with me and, frankly, more importantly, standing with our family of South Carolina as we faced one of the horrific challenges our State has ever faced in the history

of a State that has a very provocative history on race.

It is a rare moment when searing pain and disbelief leaves an unforgettable yet undeniable impression on both your heart and your mind.

Mr. President, 9/11 was one of those occasions. I remember exactly where I was on that fateful day. June 17, today, 10 years ago, 2015, was another one of those days.

I will never forget sitting in my bed when I received the news that there had been a shooting in my hometown of Charleston where, ultimately, nine African Americans attending a Bible study at Mother Emanuel AME Church would be murdered. Murdered for the simple reason that they were Black. No other reason.

Invited into a Bible study was the murderer. With open arms, they welcomed him in. And for 90 minutes or so he sat through a Bible study listening and watching as these Christian souls talked about and then prayed, including him.

This atrocity that was carried out in an attempt to start a race war, a second race war, at the birthplace of the Civil War, changed the landscape and, frankly, the hearts, not only of Charleston, SC and those members of the Mother Emanuel Church but our entire State and Nation.

But even in the face of such an atrocity, in the face of such grief, 36 hours after this horrific shooting, representatives from every single family looked into the eyes of the murderer and simply said what needed to be said:

I forgive you.

Thinking back on the power of our scriptures, Matthew 5:44 reminds us to love those who persecute us--to pray for those who persecute us, and to love our enemies, and to think about the capacity of love of nine family members to turn away from the grief and the pain and the misery and turn towards love.

To say to the person who just executed the person they loved dearly: We forgive you, the power of that moment started healing our Nation caught up in racial tension and violence, healed our Nation in a way that nothing else can do.

Sometimes fire can't meet fire. Sometimes hate can't meet hate. Sometimes the only thing that brings healing and restoration--or at least begins it--is meeting hate with love.

I won't ever forget the Wednesday, one week later. I was coming to this floor to give a speech, and I was talking to Daniel Simmons, Jr., whose father was one who was executed on that fateful day, his father Daniel Simmons, Sr. And I asked Daniel Simmons, Jr.: What would you want me to say to the Nation if they are listening as I go out and talk?

He said: Please remind them of Romans 8:28; that somehow, some way, all things work for good for those who love God and are called according to His purpose.

I have got to tell you, had I been in his shoes, I do not believe I would have had the strength, the conviction, the clarity of mind to find good in the midst of that tragedy. But it is the message of hope that we needed then, and I believe it is the message of hope we need now.

I am personally forever grateful to those family members, the family members of the nine, who simply chose forgiveness in the face of something I pray none of us has to experience.

Their example of a faith-filled hope in the wake of tragedy and loss not only inspires me still, it inspired our Nation, and I pray that it continues to lead us in the direction of reconciliation. As we honor those who are no longer with us, we must never be driven by our pain, our division, or our fear.

I would like to have a moment of silence for the Emanuel nine and their families.

Rev. Clementa Pinckney, Cynthia Hurd, Rev. Sharonda Coleman- Singleton, Tywanza Sanders, Ethel Lance, Susie Jackson, Rev. DePayne Middleton-Doctor, Rev. Daniel Simmons, Sr., and Myra Thompson.

May America, the greatest Nation on the planet, always strive to live up to our highest ideal, the ideal that we are all created equal; that we all share the same bloodline; that we are all a part of the same family, the family of God.

Mr. President, therefore, as if in legislative session and notwithstanding rule XXII, I ask unanimous consent the Senate proceed to the consideration of S. Res. 282, submitted earlier today.

I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, and that the motions to reconsider be considered made and laid upon the table with no intervening action or debate.

Mr. President, I rise in support of the GENIUS Act. Today is a good day to watch a bipartisan coalition do what we were sent here to do: work on behalf of the American people.

Today, the United States can take a bold and historic step forward not just for financial innovation, but also for American leadership, consumer protection, and economic opportunity.

With the bipartisan GENIUS Act, we can do more than just pass a bill. We can deliver results for the American people. We can bring clarity for a sector that has been clouded by uncertainty, and we can make it known: The United States will lead, not follow, in the digital asset revolution.

When I became chairman of the Senate Banking Committee, I promised to prioritize innovation, accountability, and smart regulation in the evolving digital economy, and we have the opportunity to deliver on that promise. The GENIUS Act will be the most significant digital assets legislation ever to pass the U.S. Senate.

It is the product of months of bipartisan work. And I also want to thank the bill's sponsor Bill Hagerty, who went out of his way to make this legislation a bipartisan success by partnering with Senator Alsobrooks, working with Senator Gillibrand, along with our colleagues on this side of the aisle, Senator Lummis, and myself. I am incredibly proud to see the hard work of Senator Hagerty pay off--not for him but for the American people.

That is what makes this process such a special one. It is what makes the U.S. Senate the most deliberative body in the world today. This is a victory for working families, small businesses, and everyday Americans who deserve faster, cheaper, and safer access to financial services. It is a win for innovation because this framework will give entrepreneurs the confidence to build here in the United States of America and not abroad.

And it is a win for national security, because the GENIUS Act brings stablecoin issuers under strict anti-money laundering standards, cracking down on bad actors at home and abroad. Let me be clear, this did not happen by accident. It happened because we led.

To those who said Washington could not act, to those who doubted bipartisanship, let's prove them wrong. Let's show that principled leadership, conservative values, and common sense can still move this country forward together.

And I would not be complete in my comments if I did not stop and thank the Senate Banking staff for their hard work and their dedication. It would be incomplete if I did not stop and thank Senator Hagerty's staff for their hard work, countless hours; and Senator Gillibrand's staff for her dedication and their dedication to this issue; and, certainly, Senator Lummis and her staff, who spent countless hours making a good product better.

Let's finish the job and get this bill to President Trump's desk for signature.

Mr. President, reserving the right to object, I think it is pretty rich for the party of President Biden to talk about improprieties.

I object.

Mr. President, I think it is pretty clear that the underlying assumption is that there is already something nefarious going on, and I simply object to casting aspersions toward the President of the United States, particularly given the fact that this is the party--not Jeff but the party--that had cocaine in the White House, that had a problem with Hunter Biden's laptop.

My point is, I am not going to cast aspersions on the President of the United States without any clear evidence that any law has been broken, and I do not believe that there has been.

He recognized you.

I object.

Mr. President, today should have been-- it should have been--a historic day for Americans, a historic day for working-class Americans, blue-collar Americans, to see their financial system democratized. Well, what does that mean? What it means is a day where single mothers like the one that raised me--the day becomes a little cheaper, things become a little more affordable.

Why? Because we were on the verge of doing something that would have made our markets safer and cheaper for everyday, working Americans across this remarkable land. But, instead, we witnessed a disappointing display of political gamesmanship that puts partisan politics above policy and obstruction above innovation.

We could have come together as Republicans and Democrats, not in a bipartisan way but in an American way, to deliver real change for the American people, real change embedded in the passing of the GENIUS Act. But not this day.

I know that this day was supposed to be special. It was supposed to be the day that America as a nation would rise to the occasion of innovation over regulation. It was supposed to be the day where we would come together in a nonpartisan way, Republicans working with Democrats, to make this Nation work better for the blue-collar comeback. It was supposed to be that day. But not this day.

I know what those on the other side would say. Let's be brutally honest about it, though. The GENIUS Act was a bipartisan achievement at the Banking Committee. It was a bipartisan achievement because we took the time, hours upon hours. The Presiding Officer was there. We debated day in and day out for weeks and months before we ever had the hearing. We offered almost 80 amendments during the session in the Banking Committee. We voted on 40 amendments in the Banking Committee. We made the decision to make America's economy safer and cheaper for the American people.

But when the lights came on and the cameras were watching, what did we see? We saw those same Democrat colleagues who recognized the urgent need to bring stablecoins into the clear, responsible, regulatory framework--we watched them take a step back and vote against the very bill they voted for, the bill they shaped. What changed? What changed? What changed? Not the substance. They got more of what they wanted than the last five iterations of the legislation. What changed was politics. Not policy, not the legislation, not the substance--politics.

Let's be honest. What we saw today wasn't a vote against the legislation. Several iterations--the Presiding Officer's staff, my staff, and Democrats' staff spent thousands of hours working on improving the bill; up until 2 a.m. last night, staff getting phone calls from Democrats about what they needed for the bill to pass.

It was a vote against President Trump and President Trump's legislative agenda. It was a vote to stop President Trump from having a victory in the digital asset space. It was a vote against common sense--that simple.

Trump derangement syndrome has once again hijacked responsible governance in this Chamber, but unfortunately, unfortunately, it is the American people--they are the ones who lose. It is blue-collar, red- blooded Americans who pay the ultimate price of inaction in this Chamber brought about because of politics, not policy.

It frustrates me. It frustrates me to sit through hours of meetings. It frustrates me to watch people look me in my eyes and tell me: We are almost there; I just need one more thing. It frustrates me when my colleagues seem so sincere that they want the revolution of innovation to happen in America. It frustrates me to watch them turn their backs on the very people they say they represent. It frustrates me that the modern financial tools that make our economy not just faster but safer--safer because the blockchain technology makes it safer and more inclusive.

Entrepreneurs and developers want clarity so they can build here in the United States of America, not be pushed offshore into a regulatory environment that is confusing.

Let me close with this. The bill delivered on exactly what we all want: safety, consumer protections, AML, BSA. All the things that the Presiding Officer would want, that I would want, that they would want-- we did it. We did it together. But there is something putrid.

It is hard to understand how my good friends could walk away from our priorities, that my colleagues on the other side of the aisle decided to chicken out on safety, on inclusion, and on democratization.

When the cameras were rolling and the stakes were high, we were left high and dry--not because of the policy but because the political landscape dictated, demanded that they deny the average American access on this day. This is exactly the kind of cynical Washington maneuvering that makes people sick to their stomach.

But I am proud of the work we have done. I am, frankly, proud of the work that my Democrat colleagues on the committee offered to make the bill better. I am proud of the fact that for a couple of hours in America's Capital, we put partisanship to the side. We decided we would just do the right thing. I am proud that the Republican Party stood up and stood firm on innovation, stood strong on consumer protection, and we were there for national security.

I am not finished fighting. I am frustrated, but we are not defeated. We are simply delayed. We are not finished fighting. We will continue to work on the digital asset revolution that the American people voted for, that they deserve. The need hasn't disappeared, and neither has our commitment to American leadership in the digital asset space.

To those who chose politics over progress today, the American people are watching.

I yield the floor.