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USA Today
a day ago
- Business
- USA Today
Change is coming: Congress moves forward to end penny, as a Tennessee town worries about jobs
Change is coming, but it won't be in the form of a penny anymore. However, the demise of the penny could mean the loss of jobs in East Tennessee. After 233 years of production, the U.S. Treasury Department announced in May that the production of the penny will come to an end, and soon, the only ones available will be pennies currently in circulation. On July 23, the House Financial Services Committee, which oversees banking, insurance and other related matters, advanced a bill dubbed the 'Common Cents Act' by a vote of 35-13. Bring us one step closer to the end of penny minting in the United States. 'The Common Cents Act is about fiscal responsibility and good government,' House Republican Conference Chairwoman Rep. Lisa McClain, R-Michigan, said in a statement. 'Taxpayers shouldn't be footing the bill to produce a coin that loses money every time it's made. It's time to modernize our currency policy and bring some common sense — and Common Cents — to Washington.' The advancement could also mean the end of work at the Greene County, Tennessee factory where penny blanks for the United States are made. During the July 23 meeting, Tennessee Republican Rep. John Rose, who sits on the House Financial Services Committee, expressed concerns over the 'Common Cents Act," arguing that eliminating the penny 'without a well crafted plan' to phase it out won't accomplish the goal of 'improving the cost and efficiency of US currency.' 'As it stands, there's been no time provided for states, retailers or consumers to prepare for a penniless economy,' he said. 'We need to do that responsibly and thoughtfully.' The concerns were short-lived, though, Rose stated he would ultimately vote for the act. Here's a look at when the penny will be phased out and what could happen to the Greene County factory. Why is penny production being stopped? President Donald Trump stated in February that production was going to stop in 2025. Trump's February announcement about halting penny production stated that the effort is a cost-saving measure for the budget. As the penny is phased out, prices will soon reflect the nickel as the smallest denomination. The change will force companies to change pricing . Trump has previously stated that the coins were 'wasteful,' arguing that it's pricey to produce them. Nickels are more expensive than pennies to produce, which could cause other losses in the budget. How much does it cost to make a penny? A nickel? More than it is worth. The currency that is only worth 1 cent costs about 3.7 cents to produce in fiscal year 2024, according to the U.S. Mint's annual report. A nickel costs about 13.8 cents to make. The price to make both coins has been on the rise for almost the last decade. The U.S. Mint reported an $85.3 million loss in the 2024 fiscal year on the nearly 3.2 billion pennies it produced Are pennies made in Tennessee? The blanks used for pennies are produced in East Tennessee at Artazn Zinc in Greene County. 'Save the penny. For those that do not know, every penny starts in Greene County. Save jobs in Greene County!' Jeff Taylor, president and CEO of the Greene County Partnership, posted on social media after the announcement. Penny blanks have been manufactured in East Tennessee for decades at the business, along with coins for countries around the world, with "over 300 billion coin blanks circulating across 20 countries," according to the company's website. Taylor and Kevin Morrison, the mayor of Greene County, have argued that ending penny production could cost individuals their jobs. One group is fighting for the penny to stay and states that its phase-out wouldn't mean saving money. 'In fact, such a move would have a significant negative impact on the U.S. Mint's cost structure. Many overhead expenses at the Mint would remain and would need to be absorbed by other coins, increasing their per-unit costs. Additionally, without the penny, the demand for nickels would rise to fill the gap in small-value transactions,' according to a January news release from Americans for Common Cents, a pro-penny group with Artazn among its backers. 'Since each nickel costs nearly 14 cents to produce, this shift would drive up overall production expenses for the government. Rather than saving money, eliminating the penny would increase and redistribute financial burdens,' the news release states. When does the production of the penny stop? The last order for pennies has already been taken by U.S. mints and the Treasury told multiple news outlets that pennies will stop being put into circulation early in 2026, according to the Wall Street Journal, CNN, MSN, and Business Insider. But the decommissioning of the penny now lies in the hands of the House Rules Committee, which sets terms for how a bill will be debated, amended and voted on by members in the lower chamber. When it will get to that committee is unclear, though, since the House is out on its month-long summer break. How many pennies are made each year? In the 2024 fiscal year, around 3.2 billion pennies were manufactured Are old pennies worth anything more than 1 cent? Think that old penny you have in the drawer might be worth something? Well, some are, but most aren't worth more than their face value. "There are million-dollar pennies, but there are no $100 million pennies," said Donn Pearlman, spokesman for the Professional Numismatists Guild (PNG), a nonprofit organization composed of many of the nation's rare coin experts. "Only a few Lincoln cents dated 1909 to 1958 with the wheat stalks design on the back ("wheat pennies") have sold for $1 million or more." If you find a 1943 copper Lincoln wheat penny, you might have something. These copper 1 cent pieces were produced accidentally as the U.S. mints were supposed to use zinc to save copper for the World War II effort, said John Feigenbaum, publisher of rare coin price guide Greysheet. The penny is worth some money, but only a few have gone for $1 million. How can I tell if my pennies, coins are worth anything? A quick Google search can give you an idea if the coin you have is rare or if it could be worth anything. But if you have questions, you can also reach out to the American Numismatic Association. The nonprofit educational organization is dedicated to educating and encouraging people to study and collect coins and other items related to it. Beyond doing your own research, the easiest way to see if your coin is worth anything is to get it appraised. Tennessee has multiple coin appraisers across the state who can take a look at any coins that you may have come across and tell you their potential worth. You can find a list of recommended coin appraisers from the American Numismatic Association at Think you may have something of value? Check out some more tips on what to do at USA TODAY contributed to this report.
USA Today
2 days ago
- Business
- USA Today
What's the latest on Trump's plan to end penny production? What to know
WASHINGTON - Republican lawmakers in Congress are forging ahead with President Donald Trump's plan to end the production of pennies, a move that could potentially cost jobs and affect the way businesses handle cash transactions. The House Financial Services Committee, which oversees banking, insurance and other related matters, advanced a bill dubbed the 'Common Cents Act' by a vote of 35-13 on July 23. The bill would formalize Trump's February order directing the Treasury Department to halt penny production, and round cash transactions to the nearest five cents. It was introduced by Rep. Lisa McClain, R-Michigan, Rep. Robert Garcia, D-California, Sen. Cynthia Lummis, R-Wyoming and Sen. Kirsten Gillibrand, D-New York, at the end of April. 'The Common Cents Act is about fiscal responsibility and good government,' McClain, the House Republican Conference chairwoman, said in a statement. 'Taxpayers shouldn't be footing the bill to produce a coin that loses money every time it's made. It's time to modernize our currency policy and bring some common sense — and Common Cents — to Washington.' With House lawmakers out for their annual one month summer break, and the Senate soon to go on theirs, there won't be much action taken on the bill until after they return. Trump has previously deemed the one-cent coins as 'wasteful,' arguing that it's pricey to produce them. A 2024 annual report from the United States Mint found that the cost of making a penny was 3.69 cents. Here's the latest on the push to end penny production. GOP lawmaker pushes back, then supports bill Republican Tennessee Rep. John Rose, who sits on the House Financial Services Committee, originally expressed concerns over the 'Common Cents Act," but later supported the initiative. Tennessee is home to the nation's sole manufacturer of penny blanks. Blanks are flat metal discs that eventually become coins, according to the U.S. Morrison, the mayor of Greene County, Tennessee, where the blanks are produced, has argued that ending penny production could cost individuals their jobs. In a House Financial Services Committee markup on July 23, Rose argued that eliminating the penny 'without a well crafted plan' to phase out the one-cent coin won't accomplish the goal of 'improving the cost and efficiency of US currency.' 'As it stands, there's been no time provided for states, retailers or consumers to prepare for a penniless economy,' he said. 'We need to do that responsibly and thoughtfully.' However, Rose ultimately said he would vote in favor of the act, after getting reassurance from his colleague that his concerns would be addressed. What are the bill's next steps in Congress? The influential House Rules Committee, which sets terms for how a bill will be debated on, amended and voted on by members in the lower chamber, must take up the bill next. When the bill will go through the committee is still unclear, as House lawmakers have left Washington, D.C., for summer break. The bill does face an uphill battle in the Senate, however, as seven Democrats will need to join Republicans in breaking a 60-vote threshold and advancing it to a final vote (assuming all Republicans support the bill). Republicans have a 53-seat majority in the upper chamber. Gillibrand said in a statement that she's 'optimistic this bill will be passed swiftly in the Senate.' Lummis told USA TODAY that she looks 'forward to continuing our partnership with Senator Gillibrand and the Trump Administration to move the Common Cents Act towards passage in the Senate.' When will the government stop producing pennies? The government made its final order of penny blanks in May − the first step to end the production of the one-cent coin, a spokesperson for the Treasury Department told USA TODAY that month. "The United States Mint will continue to manufacture pennies while an inventory of penny blanks exists," the spokesperson said at the time. It is unclear when the inventory will run out. However, the Louisville Courier Journal reported that the Treasury Department will phase out the production of pennies beginning in early 2026. Contributing: Melina Khan, USA TODAY
The Hill
6 days ago
- Politics
- The Hill
Syria fighting intensifies sanctions debate: Repeal or go slow?
An outbreak of brutal, sectarian violence in Syria has intensified debate in Congress over whether to follow President Trump's directive to lift all sanctions on the country. While Trump has put his support behind Syria's interim President Ahmed al-Sharaa, who with his allies was responsible for overthrowing Syrian dictator Bashar Assad in December, some Republicans and Democrats are skeptical that al-Sharaa has completely shed his terrorist past. The violence in Sweida, located in southern Syria — which included the reported killing of an American citizen — cast a harsh light on the enormous challenges facing the new Syrian leaders in exercising control over warring militias and minority groups. Still, there's also bipartisan support for advancing Trump's directive, in particular repealing the Caesar Syria Civilian Protection Act of 2019 — landmark legislation that imposed a harsh sanctions regime meant to isolate Assad and quicken his downfall. 'There are a number of different ideas on where and how far to go, and that's a debate that we're having right now,' Rep. Brian Mast (R-Fla.), chair of the House Foreign Affairs Committee, told The Hill on Tuesday. Mast held back from taking a position on repealing or taking a more calibrated approach to sanctions relief. That divide was on display Tuesday at a meeting of the House Financial Services Committee. Rep. Mike Lawler (R-N.Y.) introduced legislation advanced by the House Financial Services Committee on Tuesday to amend the sanctions legislation to allow the administration to waive sanctions beyond the six-month period currently allowed, and to give the president more flexibility to lift sanctions when certain conditions are met. Lawler's bill was backed by Rep. Brad Sherman (D-Calif.), who offered an amendment calling for the government to demonstrate its commitment to protecting minorities. 'We cannot expect perfection, we are not looking for Jeffersonian democracy in Syria, but we are also looking for a government to do all it can to prevent seven Druze, including one U.S. citizen, from being executed,' he said, referring to the violence last week. Sherman told The Hill he was not in favor of repealing the act completely. Israel intervened in Syria last week, launching strikes on the capital Damascus and the southern Druze-majority city of Sweida last week, in what it said was in defense of the Druze community. The move frustrated and reportedly surprised the Trump administration. The U.S. last week helped put in place a ceasefire between the Druze, Bedouin, Israel and Syrian government forces after days of fighting resulted in the death of approximately 300 people. Nearly 100,000 people are displaced because of the fighting. On Tuesday, the State Department confirmed that Hosam Saraya, a Syrian American citizen of Druze descent, was murdered alongside dozens of other men held captive by local forces in Tishreen Square, located in the center of Sweida. Sen. Jeanne Shaheen (D-N.H.), ranking member of the Senate Foreign Relations Committee, said that despite the recent violence, she is still supportive of legislation she introduced in June to repeal the sanctions legislation. 'Part of what we've got to do is show Syrians that there is an opportunity for a better life,' she said, adding she wants Israel to stop bombing the country. 'That would go a long way towards providing peaceful conditions under which people can negotiate,' she said. Rep. Joe Wilson (R-S.C.), a member of the House Foreign Affairs and Finance committees, has introduced legislation in the House for a full repeal. 'To give Syria a chance, the best way to do that is we repeal,' he told The Hill. Wilson was backed by Rep. Maxine Waters (D-Calif.), ranking member of the Financial Services panel, who introduced an amendment to Lawler's legislation directing the legislation's full repeal. 'We in the African American community know, when we are trying to do business, we get just enough resources to fail, and that's what you're doing here,' Waters remarked to Lawler. 'There will be great expectations of the government — they cannot fulfill with your little bitty partial removal of sanctions,' she continued. 'It's got to be full, it's got to be meaningful, it's got to be done in a way that ensures.' Trump's special envoy for Syria and Ambassador to Turkey Tom Barrack, has also called for a full repeal. The White House did not respond to a request for comment on the state of the debate. Sen. Jim Risch (R-Idaho), chair of the Senate Foreign Relations Committee, said he is comfortable keeping the six-month waiver in place and is cautious in dealing with the al-Sharaa government. 'Whether it's a complete repeal or whether or not we move into it slowly, that's up to the president,' Risch said. 'I want to give Syria the opportunity, this is a real opportunity for us, I want to make that happen. Having said that, I also want to be cautious as we move forward,' he added. 'I think they've got enough in place with the waivers to do what they need to do,' Risch continued, responding to arguments that investors and businesses are discouraged from working in Syria over uncertainty about whether the country will remain free from financial penalty. Trump issued an executive order last month directing the State Department to review the specially designated terrorist label on al-Sharaa and the group he led to oust Assad, Hayat Tahrir al-Sham (HTS). While the Biden administration lifted a $10 million bounty on al-Sharaa, it's not clear if his terrorist designation has been fully lifted. Secretary of State Marco Rubio removed HTS's terrorist designation earlier this month. Rep. French Hill (R-Ark.), chairman of the House Financial Services Committee, is another advocate for limited sanctions relief and backed Lawler's bill on Tuesday. That position has put him at odds with a community he has worked closely with for years, in particular on the original passage of the Caesar Act. The Syrian Emergency Task Force (SETF) is an Arkansas-based humanitarian organization that was responsible for bringing before Congress the whistleblower, code-named Caesar, testifying to Assad's torture and murder of Syrian citizens, and that served as a basis for the Caesar Act. On Tuesday, the SETF put out a statement rejecting Lawler's legislation. 'President Trump's administration has a clear policy on Syria to lift sanctions and give Syria a chance, this bill does the opposite,' the SETF said in a statement. 'It is the moral obligation of Congress to fully repeal Caesar, which was about punishing Assad and not the Syrian people.' Stephen Rapp, a member of the board of trustees for SETF who served as ambassador-at-large for global criminal justice during the Obama administration, said the Caesar Act served its purpose in ushering in the fall of Assad, and that repealing the law would not harm the president's ability to wield sanctions on the al-Sharaa government if necessary. 'I don't think we need the Caesar sanctions, and it's important to send a symbolic message to Syria that you've overthrown a dictatorship and did something that most of us never dreamed as possible,' he said. 'And now we want to, certainly work with you to achieve justice, and certainly enforce human rights. And we do that by engagement, by doing what the administration has done so far, suspending the Caesar sanctions and lifting these others.' Michael Rubin, senior fellow at the American Enterprise Institute, a conservative think tank in Washington, argues that calibrating sanctions relief ensures crucial leverage in deterring against violence toward civilians and minority groups. And he warned against a double standard when it comes to relations with al-Sharaa's government. 'The atrocities under Assad were so grave, that it is crucial to keep the legal mechanism in place, especially as the change in the Syrian regime might allow for some investigation breakthroughs,' he said. Assad's atrocities include leading the regime charged with killing more than 200,000 civilians, disappearing more than 96,000 people, torturing to death more than 15,000 people, and carrying out grievous attacks against civilians using chemical weapons, cluster munitions, and incendiary bombs. But Rubin also pointed out that al-Sharaa's terrorist background — with ties to al Qaeda and the Islamic State group — should not be swept under the rug. 'It is equally important, however, to recognize that al-Sharaa and his cohort have engaged and increasingly engage in equally atrocious human rights violations. If the United States selectively prosecutes and sanctions some violators but not others for the same crimes, then we delegitimize the entire human rights mechanism.'
Yahoo
19-07-2025
- Business
- Yahoo
Crypto bills stall amid GOP infighting, leaving House in limbo
The House floor was locked at a standstill Wednesday afternoon as a diverse array of House Republicans sparred over a trio of cryptocurrency bills and Speaker Mike Johnson (R-La.) searched for consensus to unfreeze the floor. A procedural vote to advance the three crypto measures — meant to run for just five minutes — remained open more than three hours later as lawmakers from across the GOP's ideological spectrum shuffled in and out of meetings with leadership to discuss the stalled legislation. As of publication, seven Republicans had voted 'no' on clearing the procedural hurdle, including Reps. Lauren Boebert (Colo.), Tim Burchett (Tenn.), Michael Cloud (Texas), Marjorie Taylor Greene (Ga.), Scott Perry (Pa.), Chip Roy (Texas) and Keith Self (Texas) — enough to sink the vote in the GOP's narrow majority. By Wednesday evening, Republican Reps. Eli Crane (Ariz.) and Ralph Norman (S.C.) had also joined the 'no' votes, while Reps. Rob Bresnahan (R-Pa.), Thomas Massie (R-Ky.) and Mark Green (R-Tenn.) were not voting. Lawmakers had appeared poised to approve a series of procedural votes for the bills on Wednesday, after President Trump announced a deal Tuesday night with a contingent of Republican hard-liners who torpedoed a vote earlier in the day. The situation, however, quickly descended into disarray on Wednesday, as Trump's deal failed to appease the entire hard-line group, while seemingly alienating key leaders on the House Financial Services Committee. Three hard-liners — Roy, Self and Greene — initially cast 'no' votes on an early procedural motion before switching to 'yes' and allowing the measure to pass. Rep. Andy Harris (R-Md.), the chair of the conservative House Freedom Caucus, announced in a post on the social platform X during the vote that the House Freedom Caucus would back the rule after reaching an agreement with the president. 'Under this agreement, the Rules Committee will reconvene later today to add clear, strong anti–Central Bank Digital Currency (CBDC) provisions to the CLARITY legislation,' Harris said, referring to a bill laying out regulatory rules for the crypto industry. 'This is an important step to ensure Americans are protected from government overreach into their financial privacy,' he added. 'We remain committed to securing these critical protections in the final legislation and ensuring they are preserved as the bill moves through the Senate and into law.' Leadership appeared to put that plan in motion on Wednesday, sending alerts for a 4 p.m. meeting of the House Rules Committee. Just after 4 p.m., however, that gathering was canceled. Drama continued in the next vote — the final procedural hurdle before a final vote — when Roy and Greene once again cast 'no' votes. Rep. Bill Huizenga (R-Mich.), vice chair of the House Financial Services Committee, also initially voted against the measure. Johnson huddled with members in his office off the House floor, after which Huizenga switched his vote to 'yes,' while five other hard-liners joined Roy and Greene and changed their votes to 'no.' Rep. Dusty Johnson (R-S.D.) appeared optimistic about the legislation's prospects Wednesday afternoon, suggesting there was 'a lot of progress.' 'People in good faith are trying to get to 'yes,'' he told reporters. 'They're trying to figure out what is the right way to put the deal together. I think most everybody in that room has a high level of confidence that we're going to get the votes that we need to get this done shortly.' A source familiar with the matter said lawmakers are considering adding a crypto provision to the National Defense Authorization Act or the Foreign Intelligence Surveillance Act. Republicans were hopeful that they could pass the three crypto bills by Thursday as they celebrate 'Crypto Week,' but the revolt by 12 hard-line conservatives on Tuesday — and ensuing drama on Wednesday — stopped that effort in its tracks, bringing the chamber to a screeching halt. Republicans must adopt a rule to begin debate and tee up a final vote on the crypto bills. Rule votes are typically routine, party-line affairs, with members of the majority party voting in favor and those in the minority party voting in opposition. In recent years, however, some members in the majority have used the votes as a way to showcase opposition to leadership or legislation. The latest drama leaves the GENIUS Act, a bill setting up a regulatory framework for dollar-backed digital tokens called stablecoins, in limbo. If it can clear the House, the bill is poised to head to Trump's desk, where the president has indicated he is eager to sign the measure into law. The two other crypto bills up for consideration — the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act — have yet to pass the Senate and face a much more uncertain future. This has been central to opposition from the hard-line GOP contingent. They argue the GENIUS Act could pave the way for a central bank digital currency (CBDC) because it does not include any explicit provisions blocking such a development. While the anti-CBDC bill would bar the Federal Reserve from issuing a CBDC, it appears unlikely to receive enough support to clear the Senate and become law. The Digital Asset Market Clarity Act, sometimes referred to simply as the CLARITY Act, faces a similarly questionable path in the upper chamber, where senators are preparing to release their own version of crypto market structure legislation. Crypto market structure legislation seeks to provide regulatory clarity for the industry by dividing up oversight between two financial regulators — the Securities and Exchange Commission and Commodity Futures Trading Commission. Stablecoin and market structure legislation, long sought by the crypto industry, has become a key priority for President Trump and GOP leaders. After initially promising to get both bills across the finish line before Congress leaves for its August recess, they have since settled for passing only the GENIUS Act by the end of the month. The White House and key senators have said they're now hoping to wrap up market structure legislation by the end of September. Mike Lillis contributed to this report. Updated at 5:50 p.m. EDT Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. 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Yahoo
19-07-2025
- Business
- Yahoo
House GOP clears procedural hurdle for crypto bills, unfreezing floor
House Republicans cleared a key procedural hurdle Wednesday night to unlock consideration of a trio of cryptocurrency bills, unfreezing the floor after a two-day saga. The chamber adopted a rule — which governs debate on legislation — in a 217-212 vote, after most of the GOP lawmakers who opposed the procedural effort Tuesday flipped their position. The vote remained open for well over eight hours, making history as the longest vote in the House as lawmakers engaged in negotiations behind the scenes. Rep. Marjorie Taylor Greene (R-Ga.) was the only GOP 'no' vote. GOP leadership was able to secure the holdouts' support for the motion after two days of talks by agreeing to add a crypto provision to the National Defense Authorization Act (NDAA), must-pass legislation that would put it on a path to landing on President Trump's desk — assuming it doesn't get stripped out of a final bill, which is often rewritten by both chamber's leaders. 'We had a very productive meeting tonight. I mean, everybody was there in good faith, they all have the same priorities, and I'm pleased that we'll be able to get this done. The president is as well,' Speaker Mike Johnson (R-La.) told reporters. 'I just spoke with him and, obviously, this is a big priority for him. And it was for us.' 'And so this breaks the logjam, allows us to get our work done,' he added. 'And sometimes it takes longer than at other times, but it's all part of the process, and you all know this works: We build consensus and we got it done tonight, so I'm very pleased.' The vote brings to a close several days of disarray over the procedural hurdle, which stood in the way of the chamber's ability to debate and vote on the raft of crypto legislation. With the rule adopted, the House can now debate and hold final passage votes on three cryptocurrency bills and a measure to fund the Pentagon for fiscal 2026. The drawn-out negotiations began after 12 hard-line Republicans voted against the rule Tuesday, blocking the House from moving forward with consideration of the bills and leaving the floor at a standstill. Trump appeared to avert the crisis late Tuesday, striking a deal with most of the hard-line group to vote in favor of the rule the next day in exchange for combining two of the crypto bills together. However, it quickly became apparent Wednesday that it would not be smooth sailing. Three GOP lawmakers — Reps. Chip Roy (Texas), Keith Self (Texas) and Greene — initially voted 'no' on a procedural step to reconsider the rule before switching to 'yes' at the last minute to allow it to pass. When the final rule came up for a vote, Roy and Greene again voted 'no,' alongside Rep. Bill Huizenga (R-Mich.), vice chair of the House Financial Services Committee. Huizenga's opposition underscored a key point of tension from the deal the president had reached with the hard-line contingent. Trump had agreed to add provisions blocking the creation of a central bank digital currency (CBDC) — like those in the Anti-CBDC Surveillance State Act, one of the three crypto bills on the floor — to a second bill, the Digital Asset Market Clarity Act. The Digital Asset Market Clarity Act aims to provide the crypto industry with clear rules by drawing a bright line between oversight by the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump's deal sought to alleviate the hard-liners' chief concern, which was that the crypto bills laid the framework for a CBDC. While the House is set to consider the anti-CBDC measure, it appears unlikely to garner enough support to clear the Senate. The Digital Asset Market Clarity Act also faces an uncertain future, but the addition of the anti-CBDC provisions appeared to allay their concerns. However, it seems to have raised concerns among other GOP lawmakers, including members of the House Financial Services Committee. As the hours ticked on and Johnson attempted to salvage the vote, more members of the original hard-line group changed their votes to 'no,' while Huizenga switched his vote to 'yes.' After GOP leadership agreed to add the anti-CBDC provision to the NDAA, the holdouts changed their votes back to 'yes,' allowing the rule to pass. The procedural vote brings the GENIUS Act, a bill setting up a regulatory framework for dollar-backed digital tokens called stablecoins, one step closer to reality. If it clears the House, the bill heads to Trump's desk, where the president has indicated he is eager to sign it into law. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
