Senator Schmitt Discusses Landmark Cryptocurrency Bill, Rescissions Package on Fox News
WASHINGTON – U.S Senator Eric Schmitt (R-MO) joined Fox News’ The Story with Martha MacCallum to discuss the historic cryptocurrency legislation President Trump signed into law and the rescissions package he led through the Senate, which is headed to President Trump’s desk.
Click HERE to watch the full interview
Senator Schmitt on President Trump Signing Landmark Cryptocurrency Legislation into Law:
“I was proud to support this bill. Senators Bill Hagerty and Cynthia Lummis were real champions leading this bill in the Senate. But really it was President trump coming on stage and lending his support for the cryptocurrency industry. You heard from David Sachs [President Trump’s Crypto Czar] who is a very bright guy and help shepherd this through. It’s the first time there’s been a regulatory framework or rules of the road in the crypto space. The stable coin, the thing that is easy to understand, is that it is a dollar-for-dollar tie that adds stability and gives confidence. It’s really important for the United States of America to take the lead on cryptocurrencies because there are other competitors. China and the BRICS alliance would love nothing more than to disrupt America’s crypto industry. If you zoom back, this is a huge victory that people have been talking about for years. The first six of the administration, just look at the victories. You talk about the One Big Beautiful Bill and what that means for middle-class families. You have the rescission package. But also, things like this bill, that are very innovative. It’s been an incredibly successful first six months of this historic administration. This is another example.”
Senator Schmitt on Leading the Rescissions Package, which is headed to President Trump’s Desk:
“You have a lot of people in Washington who like to spend more and more of other people’s money. It’s an addiction. I was excited to be the sponsor for the rescissions package, manage it on the floor, and work with the White House and my senate colleagues. The way I put it to them is – this is a test. A test of our political will to listen to the voters. They sent a message loud and clear in November they are tired of the wasteful spending. DOGE and President Trump identified where the wasteful spending was. Now it was up to us to actually deliver on that when it came from the administration. And we did it. It’s a really important signal being sent that there is a new effort in this town to rein in the wasteful spending. The $9 billion – which is $90 billion in a 10-year window – is a lot of money. Where I come from that’s a lot of money. It also sends a signal that, with President Trump in office and Republicans in charge, we can rein in wasteful spending. We could spend the whole show on it, but this was money for things like DEI training in Burma, “Sesame Street” in Iraq, and sex change operations in Guatemala. All paid for with your taxpayer dollars. We did something that people have been talking about for 40 years. We got the federal government out of the business of subsidizing in NPR and the Corporation for Public Broadcasting. They are woke, biased, and ideologically captured. They don’t deserve tax dollars.”
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