Congressional Record, Volume 171 Issue 101 (Thursday, June 12, 2025)

[Congressional Record Volume 171, Number 101 (Thursday, June 12, 2025)]
[Senate]
[Pages S3366-S3368]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

LEGISLATIVE SESSION

______

GUIDING AND ESTABLISHING NATIONAL INNOVATION FOR U.S. STABLECOINS ACT

The PRESIDING OFFICER. Under the previous order, the Senate will
resume legislative session and consideration of S. 1582, which the
clerk will report.
The senior assistant executive clerk read as follows:

A bill (S. 1582) to provide for the regulation of payment
stablecoins, and for other purposes.

Pending:

Thune (for Hagerty/Gillibrand) amendment No. 2307, in the
nature of a substitute.
Thune amendment No. 2308 (to amendment No. 2307), to change
the enactment date.
Thune amendment No. 2309 (to amendment No. 2308), to change
the enactment date.
Thune amendment No. 2310 (to the language proposed to be
stricken by amendment No. 2307), to change the enactment
date.
Thune amendment No. 2311 (to amendment No. 2310), to change
the enactment date.

The PRESIDING OFFICER. The Senator from Oregon.

Motion to Table

Mr. MERKLEY. I move to table amendment No. 2310, so I can have an
amendment considered to the bill, an amendment that would end current
and potential crypto corruption by Federal elected officials, including
the President, Vice President, and all Members of Congress.
I ask for the yeas and nays.

Vote on Motion

The PRESIDING OFFICER. The question is on agreeing to the motion to
table.
Is there a sufficient second?
There appears to be a sufficient second.
The clerk will call the roll.
The senior assistant executive clerk called the roll.
Mr. DURBIN. I announce that the Senator from Arizona (Mr. Gallego),
the Senator from Georgia (Mr. Ossoff), and the Senator from California
(Mr. Padilla) are necessarily absent.
The result was announced--yeas 45, nays 52, as follows:

[Rollcall Vote No. 309 Leg.]

YEAS--45

Alsobrooks
Baldwin
Bennet
Blumenthal
Blunt Rochester
Booker
Cantwell
Coons
Cortez Masto
Duckworth
Durbin
Fetterman
Gillibrand
Hassan
Heinrich
Hickenlooper
Hirono
Kaine
Kelly
Kim
King
Klobuchar
Lujan
Markey
Merkley
Murphy
Murray
Paul
Peters
Reed
Rosen
Sanders
Schatz
Schiff
Schumer
Shaheen
Slotkin
Smith
Van Hollen
Warner
Warnock
Warren
Welch
Whitehouse
Wyden

NAYS--52

Banks
Barrasso
Blackburn
Boozman
Britt
Budd
Capito
Cassidy
Collins
Cornyn
Cotton
Cramer
Crapo
Cruz
Curtis
Daines
Ernst
Fischer
Graham
Grassley
Hagerty
Hawley
Hoeven
Husted
Hyde-Smith
Johnson
Justice
Kennedy
Lankford
Lee
Lummis
Marshall
McConnell
McCormick
Moody
Moran
Moreno
Mullin
Murkowski
Ricketts
Risch
Rounds
Schmitt
Scott (FL)
Scott (SC)
Sheehy
Sullivan
Thune
Tillis
Tuberville
Wicker
Young

NOT VOTING--3

Gallego
Ossoff
Padilla
The motion was rejected.
The PRESIDING OFFICER. There will now be up to 2 minutes of debate
equally divided between the two leaders or their designees.
Mr. GRAHAM. Mr. President, I yield back all the time on our side.
The PRESIDING OFFICER. The Senator from Oregon.

Point of Order

Mr. MERKLEY. Mr. President, my colleagues will remember the phrase
``Senate pay-as-you-go,'' or better known as pay-go. It was initiated
by my colleagues across the aisle to say each bill should be paid for,
and they created a point of order to that effect.
But this bill is not paid for. It spends $115 million. Cost that. And
there is no offsetting revenue of any kind. So it violates the Senate
pay-go rule.
Now, I know all my colleagues like to say they are fiscal
conservatives, and they wanted to stand up for this pay-go rule. Well,
this is a chance to actually exercise some fiscal restraint.
Already, we have the situation where we are talking about making tax
cuts permanent that will cost $50 trillion in this coming ``Big, Not So
Beautiful Bill''--$50 trillion in new debt compared to current law,
incredibly irresponsible. Well, here is a chance to do a small item
that is fiscally responsible. Honor your previous commitment to the
philosophy of Senate pay-go and vote for this point of order.
Mr. President, since all time has been yielded back by my colleague,
I raise a point of order that the pending amendment violates section
4106 of the Concurrent Resolution on the Budget for Fiscal Year 2018,
H. Con. Res. 71 of the 115th Congress, the Senate pay-as-you-go, better
known as pay-go, point of order.
The PRESIDING OFFICER. The Senator from South Carolina.

Motion to Waive

Mr. GRAHAM. Mr. President, pursuant to section 904 of the
Congressional Budget Act of 1974 and the waiver provisions of
applicable budget resolutions, I move to waive all applicable sections
of that act and applicable

[[Page S3367]]

budget resolutions for purposes of Senate amendment No. 2307, and I ask
for the yeas and nays.

Vote on Motion

The PRESIDING OFFICER. The question is on agreeing to the motion.
Is there a sufficient second?
There appears to be a sufficient second.
The clerk will call the roll.
The assistant bill clerk called the roll.
Mr. DURBIN. I announce that the Senator from Arizona (Mr. Gallego),
the Senator from Georgia (Mr. Ossoff), and the Senator from California
(Mr. Padilla) are necessarily absent.
The result was announced--yeas 64, nays 33, as follows:

[Rollcall Vote No. 310 Leg.]

YEAS--64

Alsobrooks
Banks
Barrasso
Blackburn
Booker
Boozman
Britt
Budd
Capito
Cassidy
Collins
Cornyn
Cortez Masto
Cotton
Cramer
Crapo
Cruz
Curtis
Daines
Ernst
Fischer
Gillibrand
Graham
Grassley
Hagerty
Hassan
Heinrich
Hickenlooper
Hoeven
Husted
Hyde-Smith
Johnson
Justice
Kelly
Kennedy
Kim
Lankford
Lee
Lummis
Marshall
McConnell
McCormick
Moody
Moran
Moreno
Mullin
Murkowski
Ricketts
Risch
Rosen
Rounds
Schiff
Schmitt
Scott (FL)
Scott (SC)
Sheehy
Slotkin
Sullivan
Thune
Tillis
Tuberville
Warner
Wicker
Young

NAYS--33

Baldwin
Bennet
Blumenthal
Blunt Rochester
Cantwell
Coons
Duckworth
Durbin
Fetterman
Hawley
Hirono
Kaine
King
Klobuchar
Lujan
Markey
Merkley
Murphy
Murray
Paul
Peters
Reed
Sanders
Schatz
Schumer
Shaheen
Smith
Van Hollen
Warnock
Warren
Welch
Whitehouse
Wyden

NOT VOTING--3

Gallego
Ossoff
Padilla
The PRESIDING OFFICER. On this vote, the yeas are 64, the nays are
33. Three-fifths of the Senators duly chosen and sworn having voted in
the affirmative, the motion is agreed to.
The motion was agreed to.
Mr. THUNE. Mr. President, I ask consent that the next two votes be
10-minute votes.
The PRESIDING OFFICER. Without objection, it is so ordered.

Amendments Withdrawn

Under the previous order, all amendments pending to S. 1582 with the
exception of amendment No. 2307 are withdrawn.
The amendments were withdrawn.

Vote on Amendment No. 2307

The PRESIDING OFFICER. The question now occurs on adoption of the
amendment.
The yeas and nays were previously ordered.
The clerk will call the roll.
The senior assistant executive clerk called the roll.
Mr. DURBIN. I announce that the Senator from Arizona (Mr. Gallego),
the Senator from Georgia (Mr. Ossoff), and the Senator from California
(Mr. Padilla) are necessarily absent.
The result was announced--yeas 67, nays 30, as follows:

[Rollcall Vote No. 311 Leg.]

YEAS--67

Alsobrooks
Banks
Barrasso
Blackburn
Booker
Boozman
Britt
Budd
Capito
Cassidy
Collins
Cornyn
Cortez Masto
Cotton
Cramer
Crapo
Cruz
Curtis
Daines
Ernst
Fetterman
Fischer
Gillibrand
Graham
Grassley
Hagerty
Hassan
Heinrich
Hickenlooper
Hoeven
Husted
Hyde-Smith
Johnson
Justice
Kelly
Kennedy
Kim
Lankford
Lee
Lujan
Lummis
Marshall
McConnell
McCormick
Moody
Moran
Moreno
Mullin
Murkowski
Ricketts
Risch
Rosen
Rounds
Schiff
Schmitt
Scott (FL)
Scott (SC)
Sheehy
Slotkin
Sullivan
Thune
Tillis
Tuberville
Warner
Warnock
Wicker
Young

NAYS--30

Baldwin
Bennet
Blumenthal
Blunt Rochester
Cantwell
Coons
Duckworth
Durbin
Hawley
Hirono
Kaine
King
Klobuchar
Markey
Merkley
Murphy
Murray
Paul
Peters
Reed
Sanders
Schatz
Schumer
Shaheen
Smith
Van Hollen
Warren
Welch
Whitehouse
Wyden

NOT VOTING--3

Gallego
Ossoff
Padilla
The amendment (No. 2307), in the nature of the substitute, was agreed
to.
The PRESIDING OFFICER (Mr. Moreno). The minority leader.
Mr. SCHUMER. I ask consent to address the Chamber for 20 seconds.
The PRESIDING OFFICER. Without objection, it is so ordered.

Alex Padilla

Mr. SCHUMER. Mr. President, I just saw something that sickened my
stomach--the manhandling of a U.S. Senator. We need immediate answers
to what the hell went on.
I yield the floor.
The PRESIDING OFFICER. The majority leader.

Waiving Quorum Call

Mr. THUNE. Mr. President, I ask unanimous consent to waive the
mandatory quorum call with respect to Calendar No. 66, S. 1582.
The PRESIDING OFFICER. Without objection, it is so ordered.

Cloture Motion

The PRESIDING OFFICER. The cloture motion having been presented under
rule XXII, the Chair directs the clerk to read the motion.
The senior assistant executive clerk read as follows:

Cloture Motion

We, the undersigned Senators, in accordance with the
provisions of rule XXII of the Standing Rules of the Senate,
do hereby move to bring to a close debate on Calendar No. 66,
S. 1582, a bill to provide for the regulation of payment
stablecoins, and for other purposes.
John Thune, David McCormick, Bernie Moreno, John R.
Curtis, Bill Hagerty, Cindy Hyde-Smith, Markwayne
Mullin, Ashley B. Moody, Tim Scott of South Carolina,
Tom Cotton, Deb Fischer, James E. Risch, Katie Boyd
Britt, Lindsey Graham, Shelley Moore Capito, Jim
Justice, John Barrasso.

The PRESIDING OFFICER. Under the previous order, the mandatory quorum
call under rule XXII has been waived.
The question is, Is it the sense of the Senate that debate on S.
1582, a bill to provide for the regulation of payment stablecoins, and
for other purposes, as amended, shall be brought to a close?
The yeas and nays are mandatory under the rule.
The clerk will call the roll.
The assistant bill clerk called the roll.
Mrs. MURRAY. I announce that the Senator from Illinois (Mr. Durbin),
the Senator from Arizona (Mr. Gallego), the Senator from Maine (Mr.
King), the Senator from Georgia (Mr. Ossoff), the Senator from
California (Mr. Padilla), and the Senator from Vermont (Mr. Sanders)
are necessarily absent.
The yeas and nays resulted--yeas 67, nays 27, as follows:

[Rollcall Vote No. 312 Leg.]

YEAS--67

NAYS--27

Baldwin
Bennet
Blumenthal
Blunt Rochester
Cantwell
Coons
Duckworth
Hawley
Hirono
Kaine
Klobuchar
Markey
Merkley
Murphy
Murray
Paul
Peters
Reed
Schatz
Schumer
Shaheen
Smith
Van Hollen
Warren
Welch
Whitehouse
Wyden

NOT VOTING--6

Durbin
Gallego
King
Ossoff
Padilla
Sanders
The PRESIDING OFFICER. On this vote the yeas are 67, the nays are 27.
Three-fifths of the Senators duly chosen and sworn having voted in
the affirmative, the motion is agreed to.
The motion was agreed to.
The Senator from Florida.

[[Page S3368]]

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