Sen. Lee introduces "Cancel the Coin Act" to eliminate debt limit loophole — Holly Richardson

“If the current budget resolution shows anything, it is that this Administration does not see the ballooning federal deficit as a problem,” Sen. Lee said. “A modern monetary theory-inspired spending spree would be disastrous for the American economy and the American way of life.

“The Cancel the Coin Act removes a legal loophole that allows the Treasury Secretary to bypass the statutory borrowing limit by minting platinum coins of any denomination. In doing so, this legislation ensures the powers to coin money and regulate the value thereof remain firmly in the branch of government in which the Constitution bestows them: Congress.”

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Sen. Lee introduces "Cancel the Coin Act" to eliminate debt limit loophole
Holly Richardson