Press Releases

Senator Lee introduced legislation to prevent the Federal Reserve from reshaping the U.S. financial sector and spying on every consumer transaction. The Fed, with encouragement from the Biden Administration, has begun to develop a central bank digital currency (CBDC), a cryptocurrency, minted, issued, and controlled by them, that would alter the ability of financial institutions to function as lenders, while giving the federal government knowledge of every purchase that uses a CBDC. Financial institutions could no longer offer loans since they would bear no risk for a deposit – they would function merely as wallets, holders of a CBDC – and as such, could not extend deposits to prospective borrowers in the form of loans. Moreover, since the Federal Reserve would be the sole operator and overseer of a U.S. CBDC, the bank would have knowledge of every purchase using the cryptocurrency; if it maintains the technology needed to create the CBDC, it will know how it is used.

Sen. Mike Lee (R-UT) opposes President Biden’s plan to cancel a portion of federal student debt. Lee offered the statement below following the plan’s announcement.

Sen. Mike Lee denounced Senate Democrat's passage of the so-called Inflation Reduction Act. The bill spends hundreds of billions of dollars and raises taxes at a time when inflation has grown to 9.1% nationally and nearly 15% in Utah.

Sen. Mike Lee (R-UT) introduced a Resolution designating the week of November 7th as “National Pregnancy Center Week.” Pregnancy Resource Centers are a vital resource to women across the country, providing a wide range of healthcare services to those in need. Rep. Bob Good (R-VA) introduced a companion resolution in the House.