Press Releases
Sen. Lee Remarks on Coast Guard Reauthorization Act
Sep 19, 2022
Washington, D.C.—Sen. Mike Lee (R-UT) introduced numerous amendments to the Coast Guard Authorization Act during a markup hearing of the Senate Commerce Committee this week. 19 of Sen. Lee’s amendments were incorporated into the bill passed by the committee.
Lee Leads Letter Calling for Clean Continuing Resolution
Sep 19, 2022
Sen. Mike Lee (R-UT) led a letter addressed to his Senate colleagues urging them to adopt a "clean" Continuing Resolution (CR) free of additional spending and extraneous policy riders. The letter also calls for the CR to carry over into the 118th Congress.
Sen. Lee Remarks on Coast Guard Reauthorization Act
Sep 19, 2022
Washington, D.C.—Sen. Mike Lee (R-UT) introduced numerous amendments to the Coast Guard Authorization Act during a markup hearing of the Senate Commerce Committee this week. 19 of Sen. Lee’s amendments were incorporated into the bill passed by the committee.
Senator Lee Introduces the No CBDC Act
Sep 14, 2022
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.
