Bill Hagerty

Mr. HAGERTY

Mr. HAGERTY. I would note that Texas only exists because of Tennessee.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I rise today to speak about the unaffordability of healthcare, a crisis created and perpetuated by my Democrat colleagues across the aisle. Fifteen years ago, without a single Republican vote, congressional Democrats authored and signed into law the so-called Affordable Care Act, also known as ObamaCare. Ever since, congressional Democrats, without Republican support, have continued to prop up this failed system with tax credits and bogus incentives to hide a broken foundation. Congressional Democrats even expanded these tax credits under the guise of the pandemic--again, on a wholly partisan basis--not once but twice, which included setting a deadline for their expiration this year. Now they are expecting the American public to believe that Republicans are culpable--culpable--for what the Democrats have done. They have clearly broken the system. When ObamaCare passed in 2010, Democrats promised the American people that this legislation would make insurance affordable. Sadly, this promise has gone unfulfilled. I have heard from constituents across my home State of Tennessee who are grappling with the realities of this broken system. In 2014, the premium for a benchmark plan was $197. That is 2014. In 2026, that premium is expected to be $711. That is an increase of 260 percent. As if this wasn't enough evidence, take the story from a constituent in East Tennessee who is self-employed. He and wife own and operate a consulting firm. For his family of three, their insurance premium for the exact same plan they had this year will increase from $1,400 a month to $2,200 a month; no new coverage, no additional family members, just higher cost from an inefficient and fraud-ridden system that is collapsing under its own weight. This is not affordable health insurance. If health insurance were truly affordable, then Tennesseans like the one I just mentioned would not be forced to rely on taxpayer subsidies just to afford their monthly premium, not to mention out-of-pocket costs, copays, and coinsurance. Beyond affordability, the Democrats promised to ``fix'' the healthcare system without adding to the national deficit. Their reforms were supposed to lower the deficit by more than $100 billion. Instead, according to the Committee for a Responsible Federal Budget, ObamaCare has cost taxpayers an additional $1.3 trillion. The deficit has continued to grow, with healthcare spending being a driver of that deficit. Welcome to socialism, my friends. ObamaCare was supposed to ``end abuses by insurance companies'' and create what they call a ``robust and competitive'' marketplace. Well, ObamaCare has been nothing but a profit-making machine for insurance companies. ObamaCare has funded tens of billions of dollars, especially in pandemic-era subsidies, directly to insurance companies. And we have seen insurance companies' profits balloon to historic levels. Now, let's talk about the fraud that prevails in the ObamaCare system. We will never have a competitive marketplace when that marketplace is riddled with fraud. As a test for the ease and the extent of the fraud that plagues ObamaCare, the GAO created applications for fictitious individuals--all using invalid information--and submitted these fake applications to the Federal ObamaCare exchanges for enrollment. The results--shocking. Of the 24 invalid applications that were submitted, 23 of them--that is more than 95 percent of the applications--were wrongly approved for subsidized health insurance. Get that. Over 95 percent of these fraudulent applications were approved to be subsidized in ObamaCare. As of this September, 18 of the 20 fake enrollees for 2025 are still covered. Not only did the ObamaCare exchange not identify these fraudulent identities, but insurers didn't either. Why? Well, perhaps it is because those 18 applicants paid more than $10,000 per month to the insurance companies for these nonexistent patients. The money wasn't paid to the patients. The money was paid directly to the insurance companies to the tune of $10,000 each. No wonder the insurance companies aren't complaining. No costs, no services provided; it all falls to the bottom-line profitability of the insurers when this happens. The solution to this floundering system, created by the Democrats without a single Republican vote, is certainly not what Democrats have proposed today. They want to continue wasting Americans' hard-earned dollars. Earlier today on the Senate floor there was a stark difference of views. On one side, Senate Democrats proposed a 3-year extension along with the repeal of anti-fraud provisions that we passed during the Working Families Tax Cut. More fraud, more waste, more ill-obtained profits for insurers. This unserious, partisan proposal would cost a whopping $83 billion. It would not lower premiums for 93 percent of Americans by a single cent. I opposed that effort. Instead, Republicans are offering real solutions, solutions that will lower benchmark premiums by 11 percent, save $30 billion by appropriating cost-sharing reductions, and empower patients to make their own healthcare decisions. There are further Republican solutions being debated right now, solutions that add serious fraud protections and ensure that wealthy Americans are not receiving taxpayer subsidies, solutions that ensure no Federal funds are used for abortions; that ensure illegal immigrants aren't accessing these credits to free-ride and overwhelm the American healthcare system. I hope my Democratic colleagues will stop playing their political games and begin to work with Republicans to actually lower the cost of healthcare for the American people. Mr. President, I yield the floor. I suggest the absence of a quorum.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. HAGERTY

Mr. HAGERTY. Madam President, I stand before you today to urge the adoption of the Hagerty-Peters amendment for the bipartisan BIOSECURE Act. The BIOSECURE Act is rooted in basic common sense. It would stop U.S. taxpayer money from going to Chinese technology companies that are aligned with the People's Liberation Army, companies like BGI. The threat we face is real, and it is growing. Communist China has openly identified biotechnology as a key domain for future warfare. To cite just one chilling example, in 2017, National Defense University of the People's Liberation Army wrote about the possibility of ``specific ethnic genetic attacks'' that ``can be a precise, targeted attack''-- get this--``that destroys a race, or a specific group of people, or a specific person.'' This is bone-chilling, this is real, and this is the objective of the CCP and the PLA through this DNA data collection. The Chinese military entity added that ``its potentially huge war effectiveness can bring extreme panic to human beings.'' Of course it would. That is not science fiction; that is a PLA strategy document. Companies like BGI--one of the so-called national champions of Chinese biotech--are in position to facilitate what was once heretofore unthinkable: a genetically targeted bioweapon. Evidence suggests that BGI is working with China's military to conduct joint research. It is using the Chinese military supercomputers to process biodata, and it is collaborating with Chinese military hospitals to genetically enhance the performance of Chinese soldiers. Can you believe this? Under China's national intelligence laws, all Chinese companies, regardless of where they operate in the world, must turn over any data they have collected if the Chinese Government wants it. Given the stated interest of the PLA in bioweapons, you can be sure they will be interested in the genetic data of Americans. Make no mistake, BGI and companies like it are not just commercial actors; they are tools of the CCP--collecting, storing, and analyzing DNA for millions of people worldwide, including the genetic data of Americans that they collect, very often without informed consent. That is why the Department of War has already singled out BGI on its list of communist companies that operate in the United States and that collaborate with the People's Liberation Army. The solution is simple. The BIOSECURE Act stops U.S. taxpayer money from flowing to biotechnology companies of concern. It ensures that the Federal Government cannot buy from, contract with, nor subsidize CCP- controlled biotech firms that put at risk the DNA of American citizens and the security of the United States. It gives industry an adjustment period when new entities are designated as ``biotechnology companies of concern.'' It provides limited waiver authority where absolutely necessary on a case-by-case basis. Just last month, Xi Jinping and Vladimir Putin were overheard talking about biotechnology, organ transplants, and even the possibly of extending life to 150 years. They know what is at stake. We must acknowledge it too. This amendment is about protecting Americans' most personal information--their DNA. I urge my colleagues to support it.

Mr. HAGERTY. Madam President, I call up my amendment No. 3841 to substitute amendment No. 3748 and ask that it be reported by number.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I rise today to urge my colleagues to support the confirmation of my close friend and, for the past 4 years, my chief of staff, Mr. Adam Telle, who is President Trump's nominee to serve as Assistant Secretary of the Army for Civil Works. He has served as my chief of staff for the past 4 years, and in that time, he has become a trusted adviser, a leader on my team, and, frankly, a very good friend. Adam has spent the past two decades serving on both ends of Pennsylvania Avenue and at all times serving this body here in the U.S. Senate, whether he was leading the Senate side of the leg affairs team at the White House or working right here for many of us. Adam is just the type of staffer that I think we want to see step into the executive branch into a leadership role, and he will serve as an inspiration to all of the staff that serve us so ably. Adam is the son of a geologist, a man who knows how to make things work. He has a knack for that. He is a native of Northport, AL, and a graduate of Mississippi State University's Bagley College of Engineering. He is a brilliant mind. He has excellent organizational skills--just what we want at the Corps of Engineers. If you think about it, the work of the Army Corps of Engineers affects millions of Americans--from navigation and flood control to water infrastructure and disaster response. This work requires capable and responsible leadership, and Adam Telle is exactly that kind of leader, and I want to urge all of my colleagues to support Adam Telle for this position.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that I be able to speak for up to 2 minutes.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent to waive the mandatory quorum calls with respect to the Tata and Edlow nominations.

Mr. HAGERTY

Mr. HAGERTY. I ask for the yeas and nays.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I rise today to urge my colleagues to confirm the confirmation of my teammate and friend Luke Pettit, President Trump's nominee to serve as Assistant Secretary of the Treasury for Financial Institutions. Luke has served on my staff for more than 3 years. In that time, he has become a vital part of my team, but more than that, Luke has become a leader, an indispensable adviser, and, in fact, a close friend. Luke is exceptionally qualified. He came to the Senate with an already impressive resume. He has sterling academic credentials. Luke has years of experience at the Federal Reserve and in the private sector. His background has given him a deep understanding of how our Nation's financial system works, not just in theory but also in practice. Luke is a true rarity here in Washington, DC. While possessing a deep understanding of complex technical matters, Luke has never lost sight of the true aim of economic policy, which is very simply to expand opportunity and to deliver prosperity to Americans from every walk of life. Here in the Senate, Luke worked arm in arm with many of your staffers to write the GENIUS Act, landmark legislation to regulate stablecoins and promote innovation. Many of you and your staff will recall the long hours it took to move this measure forward. This bill's passage was never guaranteed. It passed, in great part, thanks to Luke's tireless efforts to overcome obstacles and to bring people together across the aisle. In fact, without Luke's leadership and perseverance, the GENIUS Act, as we know it, would not have been possible. Beyond his many qualifications, Luke is a leader in the truest sense. He is admired not merely for what he knows but how he carries himself, with humility and with selfless dedication to the task at hand. Luke is beloved and respected by my entire team, and he mentors countless young men and women in the Halls of the Senate and beyond, including my own children. To Senate staffers gathered here today, I hope you will see Luke's confirmation as an inspiration and an acknowledgment of the vital role that all of you play in shaping policy and serving this country. The strength and stability of the financial system are vital to our Nation's prosperity, to our global competitiveness, and, frankly, to the American way of life. At the highest levels of government, we need leaders who understand the weight of that responsibility, leaders who will approach their duties with wisdom, humility, and an unshakable commitment to do what is right. Luke Pettit is just that kind of leader. Mr. President, I can think of no one more qualified, no one more committed, and, frankly, no one more ready to serve than Luke Pettit. Therefore, I urge all of my colleagues to support the confirmation of Luke Pettit, which is about to occur.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I am here today to urge my colleagues to support the confirmation of Whitney Hermandorfer. Whitney Hermandorfer is President Trump's nominee to be a judge on the Sixth Circuit. This is a defining moment for the second Trump administration because Whitney is the first judicial nominee to be brought forward to serve at the circuit court level. She is the first Trump nominee to come before the U.S. Senate, and she is a perfect candidate to be that first nominee. She is going to set the benchmark for excellence for all future judicial nominees. Indeed, I don't think President Trump could have made a better choice. Ms. Hermandorfer is eminently qualified. She graduated first in her law school class. Then she clerked on the district court for DC, the DC Circuit, and, not once but twice, at the Supreme Court of the United States. Whitney served as lead strategist and advocate for our home State of Tennessee, representing the Volunteer State in its most complex and important cases, and, unsurprisingly to everybody that knew her and knows her, she did an exceptional job. Ms. Hermandorfer has the experience and the demeanor that our very best judges possess, along with a genuine humility, kindness, and a sense of optimism that I think everybody will appreciate. Most important, Ms. Hermandorfer will faithfully discharge the solemn duties of a judge. She will interpret the Constitution according to its original meaning. She will administer justice without fear, without favor. She will rule without preference for the poor or the rich, the weak or the powerful. She will protect the precious rights recognized in the Constitution and safeguard the delicate separation of powers that our Founders established. Whitney Hermandorfer is an outstanding nominee. Any delay in confirming her deprives our courts of the very best and the very brightest that our Nation can offer. So I am here today to urge my colleagues to support her nomination on today's procedural vote, and I am going to encourage this body to quickly proceed to her confirmation.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I rise today to recognize and honor the remarkable life of an extraordinary American, a Marine Corps veteran, titan of industry, and friend to me and many others here in the U.S. Senate and across the legislative and executive branches of our government Frederick W. Smith. Fred is best known for being a pioneer in the transportation, logistics, e-commerce, and express delivery industry, the founder and CEO of FedEx for nearly half a century. Fred was that and much more. Fred Smith led an All-American life. Born in Marks, MS, he was raised in Memphis, TN. There, he attended elementary school at Presbyterian Day School and high school at Memphis University School. In 1962, he entered Yale University to study economics where he would conceive of an idea for an integrated air-to-ground transportation and logistics business, which would eventually become Federal Express. After graduating Yale, he served our country through two tours of duty in the Vietnam war. For his service, Fred received the Silver Star, the Bronze Star, and two Purple Hearts. An excerpt from Fred's Silver Star citation provides some insight to the man Fred was--the Fred I knew: ``By his courage, aggressive leadership and unfaltering devotion to duty at great personal risk, Lieutenant Smith upheld the highest traditions of the Marine Corps and of the United States Naval Service.'' Fred was honorably discharged from the Marines in 1973 with the rank of captain. Fred Smith's leadership was found throughout his private life, too. Through his tenacity, he built FedEx to become one of the largest private employers of Americans and the global leader in transportation and logistics. On April 17, 1973, Federal Express began operations in Memphis, TN, with 389 employees; 14 aircraft delivered 186 packages to 25 U.S. cities during that first day. Today, FedEx employs more than 370,000 Americans, operating in over 220 countries and delivering over 17 million shipments per day. Fred believed in his hometown of Memphis and chose to make his city the headquarters and logistical center of FedEx. He saw the potential for Memphis. Today, Memphis is a major center in global logistics because of Fred's hard work and determination. Fred served as CEO of FedEx until 2022 and served as executive chairman until his passing. Fred Smith's commitment to Memphis was also demonstrated through his philanthropic support of education, healthcare, sports, the arts, and community development in the city. Fred served on the board of St. Jude Children's Research Hospital and the Mayo Foundation. He demonstrated his love for the city through his actions. And even more important than his military career, his accomplishments in business, and philanthropy, Fred Smith was a loving husband to Diane, father to 10 children, 31 grandchildren, and 2 great- grandchildren. I am fortunate to know many of Fred's family members, and in them, I see Fred's patriotism and commitment that will extend his legacy for generations to come. Fred has left a lasting impression on those who knew him and those who did not. Those who did will miss him dearly. Every American should be thankful for the life of Fred Smith.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, President Trump's actions to address Iran's nuclear weapons program last weekend didn't start a war; they ended a war. So I rise today to support President Trump's wisdom and leadership in decisively countering Iran's nuclear threat and, therefore, to oppose this ill-conceived joint resolution. As a U.S. Senator and former Ambassador to Japan, I understand and respect the role that Congress plays in matters of war and peace, but I cannot and I will not support a resolution that removes the ability of the President of the United States to act decisively in defense of national interests, our allies, and our Armed Forces. This resolution, if passed, would send a dangerous message not just to Iran's terrorist-sponsoring regime but also to every adversary who is seeking to exploit our domestic debates and internal divisions. This resolution would signal that America's resolve can be hamstrung by congressional hesitation at the very moment when clarity, unity, and strength are most needed. I cannot state this strongly enough: President Trump acted entirely within his constitutional authority under article II and in accordance with his solemn duty to defend this Nation and to defend the American people. Operation Midnight Hammer was a targeted, strategic, and necessary use of force to eliminate immediate threats posed by the Iranian regime and its proxies. No American lives were lost or injured during this military operation, thanks to the leadership of President Trump, the advice and counsel of Vice President JD Vance, National Security Advisor and Secretary of State Marco Rubio, Secretary of Defense Pete Hegseth, General Dan Caine, and the brilliant planning and flawless execution of the men and women of the U.S. Armed Forces. For decades, the Iranian regime has been attacking U.S. personnel, our allies, and our interests through its Revolutionary Guard, through Hezbollah and Hamas and Houthi terrorists, and through its missile programs and multiple cyber attacks. For decades, the Iranian regime has cynically violated international agreements to overtly and covertly pursue the capabilities necessary to make nuclear weapons on short notice. The idea that the President, in the face of escalating threats, can only sit idly by until Congress can hold hearings and schedule votes is not just naive; it is reckless. This War Powers Resolution ignores the reality of modern warfare, and it would constrain the Commander in Chief at the precise moment when decisiveness is most critical. It elevates process over commonsense policy and political optics over operational necessity. If the President had been forced to act in accordance with this resolution last week, the element of surprise would have been entirely lost, and the successful mission flown by our brave airmen would have been much different and, likely, much costlier. Of course, Congress must be consulted. Of course, we can debate the scope and strategy of our military engagements. But we must not shackle our President in the middle of a crisis when lives are on the line. We must not embolden the Ayatollahs in Tehran by showing division and delay because that is the path to endless wars, rather than the path to decisive victories. President Trump acted wisely and proportionately to protect American lives. He acted to reestablish the credibility of our strategic deterrence. And he acted after decades of Iranian aggression that went largely unanswered by the previous administrations of President Joe Biden and Barack Obama. President Trump, once again, demonstrated decisive leadership in the service of peace and stability. That is the actual job of the Commander in Chief. Let me conclude by repeating what I said at the start. President Trump's actions last weekend did not start a war. His actions ended a war. And not a single American life was lost. We should not be here debating how to constrain effective Presidential leadership but, rather, discussing how to recognize effective leadership and support it. For this reason, I urge my colleagues to oppose S.J. Res. 59.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. HAGERTY. Mr. President, today, on a bipartisan basis, the Senate will pass its first major digital asset legislation ever--the GENIUS Act. With this bill, the United States is one step closer to becoming the global leader in crypto. The GENIUS Act establishes a pro-growth regulatory framework for payment stablecoins. This bill will cement U.S. dollar dominance; it will protect customers; it will drive demand for U.S. Treasurys; and it will ensure that digital asset innovation happens in the United States of America, not abroad. With GENIUS, the value of stablecoins will be pegged to the U.S. dollar and backed one-to-one by cash and short-term U.S. Treasurys. This will provide certainty and confidence for more wide-scale adoption of this transformational technology. By combining the dollar's advantages with the speed and the efficiency of blockchain technology, the GENIUS Act facilitates traditional finance's adoption of crypto and ushers in a new era in payments. The prospect of faster and cheaper payments will have far-reaching implications for our financial system. Once the GENIUS Act is law, businesses of all sizes and Americans across the country will be able to settle payments nearly instantaneously rather than waiting for days or sometimes even weeks. Put simply, stablecoins are a paradigm- shifting development that can bring our payment system into the 21st century. This legislation establishes procedures for issuing stablecoins; it designates clear roles for Federal and State regulators; it implements standards for consumer protection; and it includes strong safeguards to deter illicit activity. Protections show that with the passage of GENIUS, stablecoin issuers could become the world's largest holders of U.S. Treasurys by 2030. Such an outcome would enhance our fiscal resilience, and it will cement the U.S. dollar's dominance as the global reserve currency. The positive implications of this legislation are hard to overstate. Today will be remembered as an inflection point for innovation in the United States of America. I would like to thank my colleagues for supporting this legislation. Particularly, I would like to thank Leader John Thune and Senators Scott, Lummis, Gillibrand, and Alsobrooks for helping to get this legislation across the finish line. I would also like to thank our wonderful staff, particularly calling out Luke Pettit, Chris Land, Catherine Fuchs, Bill Rockwood, Nick Larsen, and Chris Toppings, all of whom have put in effort night and day to make certain that this legislation is a success. I look forward to getting the GENIUS Act signed into law in very short order.

Mr. HAGERTY

Mr. HAGERTY. I ask for the yeas and nays.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I thank the Senator from New Jersey for yielding, and reiterate that section 9, Anti-Money Laundering Innovation, was added to the GENIUS Act to enable the Federal Government to address illicit activities involving stablecoins by directing the Financial Crimes Enforcement Network (FinCEN) to establish guidance and notice and comment rulemaking relating to the factors set forth in sections 9(d)(1)-9(d)(4). Prior versions of amendment No. 2307 and/or S. 1582 provided that FinCen shall issue guidance or notice and comment rulemaking for such purposes. The drafters of amendment No. 2307 explicitly amended such provision to require that FinCen shall issue guidance and notice and comment rulemaking. While this change from ``or'' to ``and'' was made in the text of text of section 9(d) in amendment No. 2307, it was inadvertently left out of the title of the section. The congressional intent of the drafters of amendment No. 2307 was to ensure that FinCEN shall issue both guidance and notice and comment rulemaking with respect to the factors set forth in sections 9(d)(1)-9(d)(4). I thank the Senator from New Jersey for his leadership on these issues, and yield to my colleague the Senator from New York.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that the Senate be in a period of morning business, with Senators permitted to speak therein for up to 10 minutes each.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that the Senate now proceed to the en bloc consideration of the following resolutions, which are at the desk: S. Res. 284, S. Res. 285, and S. Res. 286.

Mr. HAGERTY. I ask unanimous consent that the resolutions be agreed to, the preambles be agreed to, and the motions to reconsider be considered made and laid upon the table, all en bloc.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 11 a.m. on Wednesday, June 18; that following the prayer and pledge, the morning hour be deemed expired, the Journal of proceedings be approved to date, the time for the two leaders be reserved for their use later in the day, morning business be closed, and the Senate proceed to executive session and resume consideration of Calendar No. 130, Rodney Scott; further, notwithstanding rule XXII, at 12 noon the Senate vote on the motion to invoke cloture on the Scott nomination and, following the cloture vote, the Senate vote on confirmation of Executive Calendar No. 99, Olivia Trusty; further, if cloture is invoked on the Scott nomination, all postcloture time be expired and the Senate vote on confirmation of the nomination at 1:45 p.m.; finally, that if any nominations are confirmed during Wednesday's session of the Senate, the motions to reconsider be considered made and laid upon the table and the President be immediately notified of the Senate's action.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, if there is no further business to come before the Senate, I ask that it stand adjourned under the previous order, following the remarks of my colleagues.

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I have three requests for committees to meet during today's session of the Senate. They have the approval of the Majority and Minority Leaders. Pursuant to rule XXVI, paragraph 5(a), of the Standing Rules of the Senate, the following committees are authorized to meet during today's session of the Senate:

Mr. HAGERTY

Mr. HAGERTY. Mr. President, I ask unanimous consent that I be allowed to speak for up to 10 minutes, followed by Senator Scott of South Carolina for up to 5 minutes prior to the scheduled rollcall vote.