Ted Cruz introduces bill that would add $28 billion to the national debt

[AZProgressive]

Texas Sen. Ted Cruz (R), a vocal opponent of any legislation that increases the national debt, filed a bill on Monday that would effectively add billions to the deficit by repealing part of President Joe Biden's newly signed infrastructure package.

The bill would specifically roll back one of the funding mechanisms that pays for the new law's $550 billion investment in roads, bridges, water systems, broadband, electric vehicles, and clean energy infrastructure.

The section Cruz is seeking to eliminate would increase reporting requirements for cryptocurrency — alternative money systems like Bitcoin — to make sure that profits from those investments can be taxed the same as others.

Cruz, who unsuccessfully tried to get that provision removed before the bipartisan Infrastructure Investment and Jobs Act became law, decried it in a Tuesday press release as a "devastating attack" on an "emerging" industry.

https://americanindependent.com/ted-cruz-introduces-bill-add-28-billion-national-debt-cryptocurrency-bitcoin-taxes-profits-infrastructure-law-funding/

[tirebiter]

1. He'd need 60 votes in the senate to start with

[Wounded Bear]

2. Yeah, smells like major grandstanding...nt

[Jerry2144]

3. I wonder

How much money he has illicitly sucked away in crypto from illicit sources. The most likely reason he opposes taxing cryptocurrencies is that either he will have to pay more taxes or his sugar daddy will or both

[JohnnyRingo]

5. That was my 1st thought.

Ted Cruz is not a man of principles. He is a commodity to be purchased or leased, likely in bitcoin this time

[Jerry2144]

6. He really

Has a stench of corruption about him, especially in this matter. He really doesn’t sound like his opposition is based upon goodness and wholesome reasons.

[sakabatou]

4. Cruz, like many Republicans, are hypocrites

Also, crypto is harming the planet, with all the electricity people use to mine coins.