Senator John Thune, US Senator for South Dakota | Official U.S. Senate headshot
Senator John Thune, US Senator for South Dakota | Official U.S. Senate headshot
U.S. Senate Majority Leader John Thune recently addressed the Senate floor, discussing the progress on the reconciliation bill. Thune emphasized that work is advancing swiftly and the final bill is nearing completion.
He noted that since his last update, two more committees have released their sections of the bill text: the Banking Committee, led by Chairman Tim Scott, and the Commerce Committee, chaired by Ted Cruz.
Thune highlighted that "the Commerce Committee text, released on Thursday," covers priorities like border security and economic growth. The focus includes boosting growth through renewing spectrum auction authority to enhance telecommunications services such as 5G and 6G. He stated this effort could result in new jobs and significant investments while improving internet access for Americans.
On national security, Thune mentioned that "the Commerce text addresses a key aspect of our domestic security – a strong Coast Guard." Investments will be made in new ships, aircraft, and maintenance to support maritime law enforcement and drug interdictions. Additionally, there will be investments in updating air traffic control systems to ensure safety.
The Banking Committee's portion of the bill emphasizes eliminating unnecessary spending. According to Thune, Chairman Scott identified savings by removing duplication within federal programs. This includes transferring duties from the Public Company Accounting Oversight Board to the Securities and Exchange Commission and returning unused funds to the Treasury.
The Banking section also allocates $1 billion under the Defense Production Act for domestic production of national security needs.
Thune expressed gratitude for Chairmen Scott's and Cruz's efforts along with other committee members' contributions. He announced further developments are expected soon with additional sections from other committees focusing on border security and energy.
"Republicans promised to build a stronger, safer, and more prosperous America," concluded Thune. "And we’re going to deliver."
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