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Mike Braun

Mike Braun (R)

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Notable statements

Sen. Mike Braun has 2 statement(s) about crypto.

Senator Braun is a member of the Financial Innovation Caucus: "The caucus will serve as a space in the Senate to discuss domestic and global financial technology issues, and to launch legislation to empower innovators, protect consumers and guide regulators, while driving U.S. financial leadership on the international stage. The caucus will focus on a number of issues critical to the future of banking and U.S. competitiveness on the global stage, including: - Responsible financial innovation - Distributed ledger technology (blockchain) - Digital assets - Artificial intelligence and machine learning - Data management - Consumer protection - Combating Money laundering - Faster payments - Central bank digital currencies - Stablecoins - Promoting financial inclusion and opportunity for all"

Financial Innovation Caucus: United States Senate

"Infrastructure investment is great when it's paid for. This bipartisan infrastructure package's pay-fors are either completely phony or don't quite cut the mustard. Thread: 1. CLAIM: $205 billion from repurposing unused COVID relief funds. FACT: We should be repurposing COVID relief funds, but reshuffling money we borrowed in the first place doesn't count as a pay-for. 2. CLAIM: Funding from recouping fraudulent enhanced federal unemployment payments. FACT: Just like the "tax-gap," estimates for how much fraudulent UI was paid and how much can be recouped is conjecture. Repurposing money the federal government previously wasted doesn't count. 3. CLAIM: $49 billion in savings from delaying the Medicare Part D rebate rule. FACT: Raising drug prices on seniors is not a pay-for, it's wrong. 4. CLAIM: $53 billion from states returning unused federal enhanced unemployment benefits. FACT: Repurposing unused COVID relief funds we borrowed in the first place is not a real pay-for. 5. CLAIM: $56 billion in economic growth I'm glad CBO is using dynamic scoring to take into account economic effects, which they should have done on the Tax Cuts and Jobs Act. Tax cuts create far more growth in the economy than federal spending. This is a rosy estimate at best. 6. CLAIM: $8.7 billion from mandatory sequester. FACT: Wishful thinking. These "mandatory" sequesters never get done because D.C. doesn't follow any of our own budget rules. 7. CLAIM: $6 billion in sales from Strategic Petroleum Reserve. FACT: This is liquidating an asset we previously paid for, and we will have to pay to replace. 8. CLAIM: $3 billion in savings from reducing Medicare spending on discarded medications FACT: $2.8 billion is estimate of Medicare drugs thrown away every year due to single use vials. Setting aside concerns about safety, this dollar amount will certainly not reach $3 billion. 9. CLAIM: $2.9 billion interest rate smoothing options for defined benefit pension plans FACT: Interest rate smoothing is a creative accounting gimmick that rears its head in Washington every few years. It was a gimmick then, it's a gimmick now. This $550 billion of spending is on top of the baseline which already isn't paid for. The Highway Reauthorization has a $100B deficit. Real pay-fors in this bill (future spectrum auctions, Bitcoin tax, GSE fees, and a Superfund tax) should be used to cover that shortfall. Even if these rosy CBO estimates are accurate, that still leaves us a day late and several hundred billion dollars short. The bipartisan infrastructure bill is NOT paid for."

@SenatorBraun July 29, 2021 on Twitter

Crypto bill sponsorship

Sen. Mike Braun has put out 3 crypto bills.

A Bill to Require a Study on the National Security Implications of the People's Republic of China's Efforts to Create an Official Digital Currency

S. 2543
Co-sponsored
Bill pending

This bill requires the President to report to Congress on the national security risks associated with any plans by China's government to create an official digital currency.

A Bill to Amend the Federal Reserve Act to Prohibit the Federal Reserve Banks from Offering Certain Products or Services Directly to an Individual, and for Other Purposes

S. 3954
Co-sponsored
Bill pending

This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual.

Defending Americans from Authoritarian Digital Currencies Act

S. 4313
Co-sponsored
Bill pending

To prohibit the use of the digital currency payment system operated by the Government of the People’s Republic of China.

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