U.S. Sen. Tim Scott paid tribute to the late Sen. Lindsey Graham and outlined Banking Committee priorities including housing, digital assets and artificial intelligence during remarks to the South Carolina Business Council in Washington.
Based on a release from U.S. Sen. Tim Scott.
WASHINGTON — U.S. Sen. Tim Scott, R-S.C., delivered remarks this week at a gathering of the South Carolina Business Council in Washington, honoring the late Sen. Lindsey Graham and highlighting work from the Senate Committee on Banking, Housing, and Urban Affairs, which Scott chairs, according to the Office of Sen. Tim Scott.
Scott, who described Graham as a friend and colleague, praised his decades of service to South Carolina. “He was the kind of guy that would go the extra mile because he knew it was important to you,” Scott said, according to his office.
Scott credited Graham, in his role as Senate Budget chairman, with helping pass the Working Families Tax Cut bill through two reconciliation vehicles. “Without his wit and his humor, we would not have passed the Working Families Tax Cut bill,” Scott said. He said 97% of Americans received a tax cut under the legislation and said Opportunity Zones 2.0, embedded in the reconciliation package, is bringing more than $100 billion to high-poverty communities in its first iteration.
On the Banking Committee’s 21st Century ROAD to Housing Act, Scott said the panel passed the housing reform bill 24-0 after building bipartisan partnerships, including with Sens. Elizabeth Warren, Ruben Gallego and Angela Alsobrooks working alongside Sen. Mike Rounds. Scott said the bill included NEPA reform for housing.
Scott also pointed to the GENIUS Act, which he said requires stablecoins to be backed dollar-for-dollar by U.S. Treasuries and has driven demand for more than $400 billion in Treasuries worldwide. He said the Clarity Act, market structure legislation, cleared committee in bipartisan fashion, and said the committee will hold a hearing next week on a capital formation bill aimed at helping Main Street businesses access resources.
On artificial intelligence, Scott said a liberal arts education and the ability to think critically will become more important, not less, as AI advances, according to his office.
Source: U.S. Sen. Tim Scott original release.
