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Senate Plan Would Put Bitcoin, Ether Under Commodity Regulator’s Watch

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WASHINGTON—Leaders of a Senate committee are pitching legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest-rate swaps.

Senate Agriculture Committee Chairwoman Debbie Stabenow (D., Mich.) and top-ranking Republican John Boozman of Arkansas unveiled a plan Wednesday that would empower the Commodity Futures Trading Commission to regulate spot markets for digital commodities, a newly created asset class. Currently the CFTC has authority to police derivatives, such as futures and swaps, rather than underlying commodities.

The bill marks the latest salvo in an intensifying battle among federal agencies and congressional committees that oversee them over who will regulate crypto. Thirteen years after bitcoin was created, cryptocurrencies remain largely unregulated by the federal government, leaving investors without key protections from fraud and market manipulation.

The competition for jurisdiction heated up in recent months as a meltdown in crypto markets underscored the need for guardrails in the eyes of many policy makers. The competition also reflects the industry’s ramped-up lobbying presence in Washington and its push to reach more mainstream investors through Super Bowl ads and other high-profile marketing initiatives.

“‘When there’s a topic as hot as crypto, everybody wants a seat at the table.’”


— Aaron Klein, Brookings Institution senior fellow

“When there’s a topic as hot as crypto, everybody wants a seat at the table,” said

Aaron Klein,

a senior fellow at Brookings Institution who focuses on financial regulation. “The question is, are we going to have regulatory turf paralysis?”

In practical terms, for federal agencies such as the CFTC, Securities and Exchange Commission, and Federal Reserve, adding crypto to their remit would bring bigger budgets, greater influence and more job opportunities for officials who leave public service. For members of the congressional committees that oversee such regulators, a new industry in their sandbox would create another stream of lobbyists and campaign donations.

“We need to treat this seriously and take our responsibilities seriously for protecting consumers,” Ms. Stabenow said in a virtual press conference alongside Mr. Boozman.

Washington has introduced a flurry of bills in recent months to draw jurisdictional lines. Sens.

Cynthia Lummis

(R., Wyo.) and

Kirsten Gillibrand

(D., N.Y.) unveiled a proposal in June that would create exemptions for cryptocurrencies in securities laws, banking statutes and tax code. In July, leaders of the House Financial Services Committee said they were working on a bill to grant the Federal Reserve a greater role in regulating some stablecoins, crypto tokens pegged against the dollar and other official currencies.

When cryptocurrency lending platform Celsius froze user accounts amid a plunge in valuations, it sent ripples across the industry and raised questions about what happens to user assets if a crypto platform files for bankruptcy. WSJ’s Vicky Ge Huang explains. Photo illustration: Jordan Kranse

Agencies also are seeking to claim territory. CFTC Chairman

Rostin Behnam,

a former staffer to Ms. Stabenow, said last week his agency is “ready and well situated” to oversee spot markets for some cryptocurrencies. He has worked with his former boss for months to help craft legislation that would authorize the CFTC to do so, people familiar with the matter say.

Meanwhile, SEC Chairman

Gary Gensler

has repeatedly demanded that cryptocurrency-trading platforms such as

Coinbase Global Inc.

register with the agency as securities exchanges akin to the New York Stock Exchange or Nasdaq. In May, the SEC nearly doubled the staff of an enforcement unit focused on cryptocurrencies.

“Four years ago when I started this job, there were some people that just thought this thing was all going to blow up and go away, that this was sort of a passing fad,” said Kristin Smith, executive director of the Blockchain Association, a trade group representing crypto firms.

Now, she said, “We’ve got all these regulators suddenly vying for control.”

After the SEC alleged in an insider-trading case in July that at least seven cryptocurrencies listed on Coinbase should have been registered as securities, Republican CFTC Commissioner

Caroline Pham

accused the SEC of “regulation by enforcement.”

“The SEC is not working together with the CFTC,” Ms. Pham said in an interview. “They go out unilaterally to try to establish precedent that’s going to dramatically reshape the landscape as to what’s a security and what’s a commodity.”

Ms. Pham has posted photos to her

Twitter

account of herself posing alongside crypto lobbyists and executives including

Sam Bankman-Fried,

the billionaire founder of trading platform FTX.

Ms. Pham said that crypto is one of the areas she is focused on, and, “I take pictures with everybody. Like, literally, everybody.”

At the heart of the turf war are questions about how cryptocurrencies fit into the definition of a security, the legal classification that includes stocks and bonds.

Coinbase and other firms have lobbied Congress to create a new category for digital commodities and empower the CFTC to regulate it.



Photo:

Shannon Stapleton/REUTERS

A 1946 Supreme Court case created a test that focuses on whether investors buy an asset in hopes of profiting from the efforts of other people. If so, the issuer is required to register with the SEC and publicly disclose any information that may be material to the security’s price.

Even though investors in bitcoin and ether rely on a network of users and programmers to validate transactions and perform software updates, cryptocurrency enthusiasts insist those groups are too decentralized for the assets to be regulated like securities. Instead, they argue, the assets should be considered commodities, which have a broader definition and no full-time regulator.

Firms such as Coinbase, FTX and Ripple have spent millions of dollars over the past year lobbying Congress to create a new category for digital commodities and empower the CFTC to regulate it. The agency has roughly one-sixth the head count of the SEC, and its rules are seen by the industry as easier to comply with than securities laws.

“When you ask the people that are in the industry…almost all feel like the regulator should be primarily the CFTC,” Mr. Boozman said. “The fact that they’re fairly united on that makes it easier on members.”

Crypto skeptics worry that creating a new legal concept for cryptocurrencies could create an alternative to securities registration for a wider variety of assets.

“People who are taking action that could undermine our securities law are playing with fire,” said Dennis Kelleher, president of investor-advocacy group Better Markets. “You may love or hate the SEC, but transparent disclosure, clear rules…and enforcement is what builds trust and confidence in our markets.”

The legislation being unveiled Wednesday would seek to exclude securities from the definition of digital commodities, making it narrower in scope than that of other crypto-related bills floated in recent months, such as the Lummis-Gillibrand proposal.

Ms. Stabenow said she expects the Agriculture Committee to hold a hearing on the bill as early as September.

SHARE YOUR THOUGHTS

How should the two largest cryptocurrencies, bitcoin and ether, be regulated? Join the conversation below.

The bill would require any entity acting as a digital commodity platform—including crypto exchanges such as Coinbase and FTX—to register with the CFTC as trading facilities, dealers or brokers. The exchanges would have to monitor trading, protect investors from abuse and only offer assets that are resistant to market manipulation, among other requirements.

Platforms also would be obliged to disclose some information about the assets they list, such as operating structure and conflicts of interest. Such information would likely fall short of the extensive disclosures required by the SEC for securities.

The derivatives markets the CFTC currently oversees are dominated by professional investors, such as banks and hedge funds. Crypto markets, by contrast, draw legions of small investors who are more vulnerable to scams.

If the agency wins jurisdiction over bitcoin and ether, the CFTC would have to write rules from scratch to protect such investors.

“How robust would they be and how long would that take?” asked Tyler Gellasch, executive director of the Healthy Markets Association, an investor trade group.

Write to Paul Kiernan at paul.kiernan@wsj.com

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Democrats look for offramp from masking in public

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Democratic lawmakers are distancing themselves from the strong pro-mask stance they took for most of the pandemic, which is becoming more and more of a political liability at a time when many Americans are reaching their limits of COVID-19 fatigue. 

Democrats are being battered by poll after poll showing that President BidenJoe BidenBiden hails UN vote: ‘Lays bare Putin’s isolation’ Overnight Defense & National Security — US tries to turn down the dial on Russia Johns Hopkins doctor says children need to get vaccinated against COVID-19 MORE’s approval rating is hovering around 40 percent, and lawmakers say COVID-19 fatigue is a major factor behind why so many voters are dissatisfied with the direction of the country. 

Hardly any Democratic senators wore their masks on the House floor Tuesday night when the nation tuned in to watch Biden’s first State of the Union address, one of the biggest prime-time political events before November’s midterm elections.  

Brian Monahan, the Capitol’s attending physician, announced in a memo circulated before the State of the Union address that people would no longer be required to wear masks in the House chamber or elsewhere around the Capitol complex. 

He advised they were optional, and a number of Senate Democrats who for months have always worn their masks around the Capitol hallways took them off for Biden’s speech, beaming their pleasure at the president’s words unencumbered, including Sens. Elizabeth WarrenElizabeth WarrenDemocrats press Treasury over concerns Russia could use cryptocurrency to evade sanctions Five takeaways from the Texas primaries Biden State of the Union: A plea for unity in unusual times MORE (Mass.), Ron WydenRonald (Ron) Lee WydenOn The Money — Manchin makes counteroffer to Biden’s big bill Senator offers bill to revoke Russia’s trade status Biden State of the Union: A plea for unity in unusual times MORE (Ore.), Jeff MerkleyJeff MerkleyAdvocates criticize ‘tepid’ Biden request for global COVID-19 funding Stock ban faces steep hurdles despite growing support  Franken on Senate resignation: ‘They made it impossible for me to get due process’ MORE (Ore.), Brian SchatzBrian Emanuel SchatzThe Hill’s 12:30 Report – Sights and sounds from Biden’s State of the Union The Hill’s 12:30 Report: Negotiations crawl as government funding deadline nears Democrats hit limits with Luján’s absence MORE (Hawaii), Sherrod BrownSherrod Campbell BrownDemocrats press Treasury over concerns Russia could use cryptocurrency to evade sanctions Biden State of the Union: A plea for unity in unusual times Biden urges GOP to end blockade on his Fed picks MORE (Ohio) and Sheldon WhitehouseSheldon WhitehouseDemocratic Senate debates merits of passion vs. pragmatism Senators introduce a resolution honoring Tom Brady’s career Senate panel advances appeals court nominee despite objections from home state Republicans MORE (R.I.).  

Lawmakers viewed the State of the Union as a low-risk event because all attendees were required to receive a negative COVID-19 test before attending. But at least six legislators, including Sen. Alex PadillaAlex PadillaThe Hill’s Morning Report – Biden goes after Putin, stresses unity Democratic lawmakers test positive for COVID-19 ahead of SOTU Big Tech allies point to China, Russia threat in push to squash antitrust bill MORE (D-Calif.), announced they had tested positive, showing that the virus is still swirling about Congress.   

Fewer and fewer Democrats are wearing their masks in the halls of Congress, joining Republican colleagues who ditched masks last year after vaccines were widely available to the public.   

When Senate Majority Leader Charles SchumerChuck SchumerSenate passes cybersecurity bill amid fears of Russian cyberattacks Schumer wants to confirm Biden’s Supreme Court pick by April break Five viral moments from Biden’s State of the Union MORE (D-N.Y.) met with Biden’s Supreme Court nominee Ketanji Brown JacksonKetanji Brown JacksonWho the judge is matters — but not always the way people think Schumer wants to confirm Biden’s Supreme Court pick by April break Judge Jackson should recuse herself from major discrimination case before the court MORE in the historic Mansfield Room for a photo-op just off the Senate floor, neither wore a mask — even though many of the reporters and photographers in the room, though not all, were wearing facial coverings.  

Schumer after the meeting declared that the nation under Democratic leadership had pretty much defeated COVID-19.

“As the president said, Democrats have done a … very good job at getting us out of the COVID mess and we’re about to turn the corner,” he said.  

“I hope our Republican colleagues will join us in getting some kinds of new funding to keep us normal. God forbid another variant comes along,” he added.

Sen. Debbie StabenowDeborah (Debbie) Ann StabenowWhite House chief of staff tries to pump up worried Senate Democrats Democrats try to regroup heading into rough November Senate slips within 48 hours of government shutdown deadline MORE (D-Mich.), who stopped wearing a mask in the Capitol this week, said she and her colleagues recently discussed easing up on wearing masks, but she said the decision was driven by the latest guidance from the Centers for Disease Control and Prevention (CDC).  

“We have discussed it and now based on the science, it’s really recommended to be an individual decision,” she said. “Based on what Monahan said, based on D.C. lifting [its mask mandate], it’s become something that’s more of an individual decision.”

“I do have to say it’s a little weird,” she said, noting that Wednesday was only the second day she had walked the Capitol’s hallways without a mask since the pandemic hit Washington two years ago.

While the CDC, as of Feb. 25, recommends that a mask be worn based on personal preference in a low-risk environment, it recommends wearing masks in medium-risk indoor environments, especially when coming into contact with people at higher risk of severe infection.  

Several members of the Senate are in their 80s and could be seen as in a higher health-risk category.  

The guidance provided by the District of Columbia is also mixed.  

Starting March 1, D.C.’s city government stopped requiring masks at restaurants, bars, sports venues, gyms and grocery stores. But city officials still require masks at libraries, nursing homes, correctional facilities, on public transit and at government facilities where employees have direct interaction with the public.  

Democrats won control of the White House and Senate in the 2020 elections after embracing masks and other COVID-19-prevention protocols as a sign they were taking the pandemic more seriously than former President TrumpDonald TrumpJan. 6 panel claims Trump ‘engaged in criminal conspiracy’ Capitol riot defendant pleads guilty to seditious conspiracy, agrees to cooperate The Memo: Boebert’s antics blasted as another twist in politics’ downward spiral   MORE, who repeatedly refused to wear a mask in public.  

But now there are myriad signs that Americans are growing sick of masks and other restrictions.  

Democratic governors last month led a charge to ease mask requirements and now Democratic officeholders in Washington are following suit.  

Being pro-mask is a mixed bag politically, as Republicans are making inroads with swing voters by lumping mandatory masking policies with COVID-19-related school closures and urging for a faster return to pre-pandemic normalcy.   

Sen. John CornynJohn CornynWho the judge is matters — but not always the way people think The Hill’s Morning Report – Biden goes after Putin, stresses unity McConnell, Scott face off over GOP’s agenda MORE (Texas), an adviser to the Senate Republican leadership, said mask requirements are starting to hurt Democrats politically.  

“Biden cured COVID-19, pandemic’s over,” Cornyn quipped.  

“He made it political in his campaign against Trump, and he’s paying the price for that,” he said of Biden’s prominent use of masks during the 2020 presidential campaign.  

“It’s schools and it’s education and it’s parents’ roles in their kids’ education. All that stuff has flowed from that [mask] controversy, and I think they’re paying a political price for it now,” he said.  

After a Monmouth University poll showed that 70 percent of Americans nationwide think COVID-19 is here to stay and “we just need to get on with our lives,” New Jersey Gov. Phil MurphyPhil Murphy’Plain old racist’: Other kid from NJ mall fight condemns treatment of Black teen Family of Black teen arrested in New Jersey mall hires Benjamin Crump NJ governor ‘deeply disturbed’ by video showing Black teen handcuffed, pinned by police MORE (D) announced his state would lift its school mask mandate on March 7.  

“We have to learn to live with COVID,” he said last month.  

Several Democratic senators on Wednesday bristled at the suggestion that they’re shedding their masks to avoid bad political optics.  

“I don’t think politics should have anything to do with it. And I’ve felt that strongly and it’s all about science, about keeping people safe. It’s about those that are vulnerable. It’s about children that don’t have the opportunity to get vaccines. It’s not a political issue and it never should have been,” said Sen. Catherine Cortez MastoCatherine Marie Cortez MastoDemocrats try to regroup heading into rough November Democrats seek midterm course-correct in suburbs Overnight Energy & Environment — Biden says Russia attack could spike oil prices MORE (D-Nev.), who faces a toss-up reelection race this year. She was not wearing a mask.  

The divide between Democratic and Republican lawmakers over wearing masks and other COVID-19-prevention protocols has been stark for much of the pandemic.  

Sen. Rand PaulRandal (Rand) Howard PaulHouse passes bill making lynching a federal hate crime This week: Congress returns to Ukraine crisis, Supreme Court fight US voices question if Putin underestimated Ukraine MORE (R-Ky.), who contracted COVID-19 early in the pandemic, was never spotted wearing a mask on Capitol Hill and claimed last year that they didn’t work, citing a peer-reviewed study from Denmark.  

Most Senate Democrats wore masks in public throughout the pandemic, even after getting vaccinated when the omicron variant caused a new surge of infections across the country.  

Brown, the chairman of the Banking Committee, memorably got into a heated spat with Sen. Dan SullivanDaniel Scott SullivanInclude seafood in the sanctions to squeeze Putin Senate confirms Rahm Emanuel to be ambassador to Japan GOP resistance to Biden FCC nominee could endanger board’s Democratic majority MORE (R-Alaska) in November 2020 because his GOP colleague wasn’t wearing a mask while presiding over the Senate floor.  

Sullivan got hot under the collar when Brown asked him to “please wear a mask as he speaks.” 

“I don’t wear a mask when I’m speaking, like most senators. I don’t need your instruction,” he shot back.  



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Senate Democrats dial down the Manchin tension

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Senate Democrats are trying to turn down the temperature after days of high-profile drama and a delay of the bipartisan infrastructure bill in the House.

The House broke on Friday after days of intense, hours-long meetings without an agreement on a path forward on the Senate-passed infrastructure bill and the reconciliation bill, which is supposed to carry many of Democrats’ long-held policy ambitions.

The standoff on Capitol Hill sparked a proxy war between the Squad and Senate moderates, with leadership stuck in the middle trying to figure out a way to satisfy them both. But Senate Democrats, including progressives in the caucus, are largely avoiding piling on against Sen. Joe ManchinJoe ManchinThe Hill’s Morning Report – Presented by Alibaba – Democrats still at odds over Biden agenda Manchin throws down gauntlet with progressives Debt fight revives Democrats’ filibuster angst MORE (D-W.Va.).

“We are in negotiations with all Democrats. Everyone is trying to row in the same direction,” said Sen. Elizabeth WarrenElizabeth WarrenThe Hill’s Morning Report – Presented by Alibaba – Democrats still at odds over Biden agenda On The Money — Democrats dig in with Biden agenda in the balance Democratic civil war hits new heights MORE (D-Mass.), when asked if she was surprised or frustrated by Manchin’s $1.5 trillion top-line figure that’s $2 trillion short of what Biden and other Democrats have been pursuing.

Sen. Debbie StabenowDeborah (Debbie) Ann StabenowDemocrats surprised, caught off guard by ‘framework’ deal Congress facing shutdown, debt crisis with no plan B GOP warns McConnell won’t blink on debt cliff MORE (D-Mich.), who was spotted huddling with Manchin and Sen. Chris CoonsChris Andrew CoonsManchin raises red flag on carbon tax Dems punch back over GOP holdup of Biden SBA nominee Biden threatens more sanctions on Ethiopia, Eritrea over Tigray conflict MORE (D-Del.) on the Senate floor this week, noted that they talked about “things that we want to get done, that we share.”

“There’s a lot of common ground,” she added. “There’s a lot of positive effort.”

The effort to stay positive comes after Manchin threw down a gauntlet on Thursday, publicly announcing his preference for a $1.5 trillion price tag for Democrats’ social spending bill. That’s significantly less than the $3.5 trillion Democrats green lit under a budget resolution earlier this year and the bill drafted by House committees.

“For them to get theirs, elect more liberals. …I’ve never been a liberal in any way, shape or form,” Manchin told reporters in a massive gaggle outside of the Capitol.

But the response from Senate Democrats was largely muted, with several spinning Manchin’s comments as a positive step forward after weeks of questions about what their moderate colleague was seeking.

“It’s certainly helpful to know Senator Manchin’s priorities,” said Sen. Chris MurphyChristopher (Chris) Scott MurphyDebt fight revives Democrats’ filibuster angst Democrats pour cold water on Manchin’s .5T price tag Congress poised to avert shutdown, but brawl looms on debt MORE (D-Conn.). “What he’s signaling is that he wants to get a deal.”

Sen. Tim KaineTimothy (Tim) Michael KaineCongress poised to avert shutdown, but brawl looms on debt Senate Democrats eye government funding bill without debt hike Democrats scramble for strategy to avoid default MORE (D-Va.), asked if he viewed the $1.5 trillion as a hard stop for Manchin, said, “I would be surprised if that was a non-negotiable, just knowing Joe.”

Senate Finance Committee Chairman Ron WydenRonald (Ron) Lee WydenSchumer feels heat to get Manchin and Sinema on board Congress poised to avert shutdown, but brawl looms on debt On The Money — House pushes toward infrastructure vote MORE (D-Ore.), in response to a question about Manchin’s red line on $1.5 trillion, instead pointed back to the senator’s comments from earlier this week to a small group of reporters where he pointed to changes to the GOP 2017 tax bill as a core starting point.

“He made it very clear that he wants to start reconciliation by rolling back the 2017 tax bill. …I want everybody to know that the Senate Finance Committee and I have spent three years getting ready for exactly this, and we’re ready to go right now,” Wyden said.

“And one other point on this, he and I continue to have constructive discussions with regard to energy issues and I think that’s helpful,” Wyden continued.

Part of the calculus for Democrats has been a belief that throwing rhetorical bombs at Manchin isn’t likely to move him. Even as Senate progressives have deep disagreements with Manchin on both the size and some of the substance of the $3.5 trillion spending plan, in a 50-50 Senate and with all Republicans voting, leadership will ultimately need his support in order to be successful.

“I think this is really a situation where I don’t think that all of us sort of banging on Joe is going to do it,” Sen. Mazie HironoMazie Keiko HironoThe Hill’s Morning Report – Presented by Alibaba – Democrats still at odds over Biden agenda Debt fight revives Democrats’ filibuster angst On The Money — Democrats dig in with Biden agenda in the balance MORE (D-Hawaii) told reporters recently when asked to dish about the efforts by Senate Democrats to figure out what Manchin wants.

Asked about Manchin, Sen. Tammy BaldwinTammy Suzanne BaldwinBiden sidesteps GOP on judicial vacancies, for now Democrats confront ‘Rubik’s cube on steroids’ Warren, Daines introduce bill honoring 13 killed in Kabul attack MORE (D-Wis.) added during a CNN interview, “I like to look at the positives.”

“He is still negotiating. He’s still talking. He’s a little too focused on top line numbers rather than programs. And let me say that I believe that progressives and moderates alike are committed to the Build Back Better agenda,” she said.

It’s not just Senate Democrats, with key players in the House holding their punches.

After Manchin called a $3.5 trillion plan “fiscal insanity,” Speaker Nancy PelosiNancy PelosiTransportation funding lapses after Pelosi pulls infrastructure vote The Hill’s Morning Report – Presented by Alibaba – Democrats still at odds over Biden agenda White House says it’s ‘closer to agreement than ever’ after House punts infrastructure vote MORE (D-Calif.) didn’t bite on questions about her “Senate problem” and if she thought Manchin sounded “like someone who’s open to further negotiation.”

“Look, I think that Joe Manchin is a great member of Congress — of the Senate, we’re friends. We’re Italian-Americans, we get along, Catholic, we have shared values. I have enormous respect for him. … So we have our common ground,” Pelosi told reporters.

Progressive Caucus Chairwoman Pramila JayapalPramila JayapalTransportation funding lapses after Pelosi pulls infrastructure vote The Hill’s Morning Report – Presented by Alibaba – Democrats still at odds over Biden agenda Manchin throws down gauntlet with progressives MORE (D-Wash.), asked about Manchin saying $1.5 trillion was his top-line figure, added that “there’s no point in us negotiating against ourselves.”

“We have invited Sen. Manchin or anyone else who wants to, to put forward their vision,” she added.

Democrats are facing high stakes amid weeks of escalating infighting and big questions about how they get their competing factions onto the same page. The two-part infrastructure and spending package is at the heart of Biden’s legislative agenda, with many Democrats viewing it as too big to fail as they increasingly turn their attention to 2022.

Biden met with House Democrats on Friday at the Capitol and predicted that afterward the two pieces of legislation — the Senate-passed bipartisan bill and a social spending package — would eventually land on his desk.

“We’re gonna get this done,” Biden said as he departed the caucus meeting.”It doesn’t matter when. It doesn’t matter whether it’s six minutes, six days or six weeks. We’re gonna get it done.”

Senate Democrats echoed those remarks, predicting that a deal would come together — at some point.

Kaine said that Senate Majority Leader Charles SchumerChuck SchumerDemocrats back Hollywood crews threatening historic strike Overnight Energy & Environment — Presented by the American Petroleum Institute — Manchin: Gas ‘has to’ be part of the clean energy program Senate confirms Biden’s controversial land management pick MORE (D-N.Y.) “is optimistic that we’re going to get this done, and I am too.”

“I just think this is the tough part. The last days of labor. It’s just the tough part of the negotiation,” Kaine added. “We want Biden to be successful. Biden being successful is going to be good for every last member of this caucus.”

Asked about the timing, Stabenow said, “You just don’t know. You really don’t know.”

“I think that time ends up in the details of writing,” she said. “We’re in a spot where people want to come together…  and they’re talking specifics.”



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Senate rejects Cruz effort to block stimulus checks for undocumented immigrants

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The Senate voted along party lines Saturday morning to reject an amendment sponsored by Sen. Ted CruzRafael (Ted) Edward CruzDeSantis, Pence tied in 2024 Republican poll Democrats under pressure to deliver on labor’s ‘litmus test’ bill Crenshaw pours cold water on 2024 White House bid: ‘Something will emerge’ MORE (R-Texas), a potential 2024 White House candidate, to block $1,400 stimulus checks from going to undocumented immigrants.

The amendment failed by a vote of 49 to 50, with a slim majority of the Senate voting against it.

Eight Democrats had voted for a similar amendment sponsored by Sens. Todd YoungTodd Christopher YoungOvernight Defense: White House open to reforming war powers | Army base might house migrant children | Fauci scolds military on vaccine White House open to reforming war powers amid bipartisan push Senators introduce bill creating technology partnerships to compete with China MORE (R-Ind.) and Tom CottonTom Bryant CottonDeSantis, Pence tied in 2024 Republican poll Republicans blast Pentagon policy nominee over tweets, Iran nuclear deal The Hill’s Morning Report – Presented by Facebook – Lawmakers face Capitol threat as senators line up votes for relief bill MORE (R-Ark.), another White House hopeful, early last month during a debate on the Senate budget resolution. However, the Democratic caucus stayed unified on Saturday in defeating the Republican amendment.

All Republicans voted for it.

“This amendment before us today provides that the stimulus checks should not go to illegal aliens in this country,” Cruz said while introducing the amendment. “The question for the American people to answer is, should your money, should taxpayer money, be sent, $1,400, to every illegal alien in America?”

Senate Majority Whip Dick DurbinDick DurbinDemocrats break COVID-19 impasse with deal on jobless benefits COVID-19 relief debate stalls in Senate amid Democratic drama Democrats close in on deal to provide tax relief for unemployment recipients MORE (D-Ill.) slammed the measure while accusing Cruz of exaggerating the flow of stimulus payments to undocumented immigrants. He pointed out that the pending $1.9 trillion COVID-19 relief bill treats payments to families with undocumented immigrant members the same way as the $900 billion relief bill passed by the GOP-controlled Senate in December and signed into law by former President TrumpDonald TrumpTrump announces new tranche of endorsements DeSantis, Pence tied in 2024 Republican poll Lawmakers demand changes after National Guard troops at Capitol sickened from tainted food MORE.

“The statement of the senator from Texas is just plain false. False! Let me be clear: Undocumented immigrants do not have Social Security numbers, and they do not qualify for stimulus relief checks,” he said.

Durbin accused Cruz and other Republicans of trying to collect political ammo for the campaign trail.

“They want to be able to give speeches that say the checks go to undocumented people,” he said, accusing Cruz of trying to “rile people up over something that is not true.”

Eight Democrats voted for a similar effort sponsored by Young and Cotton to establish a reserve fund to bar illegal immigrants from receiving economic impact payments or other direct temporary assistance.

They were Sens. Maggie HassanMargaret (Maggie) HassanThe eight Democrats who voted ‘no’ on minimum wage Justice Democrats call moderates’ votes against minimum wage hike ‘unconscionable’ Senate rejects Sanders minimum wage hike MORE (D-N.H.), John HickenlooperJohn HickenlooperThe Hill’s 12:30 Report – Presented by ExxonMobil – Third approved vaccine distributed to Americans Democrats hesitant to raise taxes amid pandemic The Hill’s 12:30 Report: Trump’s second impeachment trial begins MORE (D-Colo.), Mark KellyMark KellyThe eight Democrats who voted ‘no’ on minimum wage Democratic centrists flex power on Biden legislation GOP targets Manchin, Sinema, Kelly on Becerra MORE (D-Ariz.), Joe ManchinJoseph (Joe) ManchinSenate Democrats vote to provide 0 unemployment benefits into September Senate GOP gets short-lived win on unemployment fight McConnell makes failed bid to adjourn Senate after hours-long delay MORE (D-W.Va.), Gary PetersGary PetersDemocratic centrists flex power on Biden legislation Alarming threat prompts early exit, underscoring security fears Five takeaways from dramatic Capitol security hearing MORE (D-Mich.), Kyrsten Sinema (D-Ariz.), Debbie StabenowDeborah (Debbie) Ann StabenowDemocratic centrists flex power on Biden legislation Democrats cut deals to bolster support for relief bill Senate Democrats offer fresh support for embattled Tanden MORE (D-Mich.) and Jon TesterJonathan (Jon) TesterDemocrats break COVID-19 impasse with deal on jobless benefits The eight Democrats who voted ‘no’ on minimum wage COVID-19 relief debate stalls in Senate amid Democratic drama MORE (D-Mont.).

The amendment to the Senate budget resolution was later stripped out by a substitute amendment offered by Senate Majority Leader Charles SchumerChuck SchumerLawmakers demand changes after National Guard troops at Capitol sickened from tainted food Ron Johnson forces reading of 628-page Senate coronavirus relief bill on floor Senate panel splits along party lines on Becerra MORE (D-N.Y.).  



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