Ted Cruz: “If Congress doesn't act, we are three to five years away…”

“So we want to protect that and this bill does that, but we also want to make sure that we don't destroy the system. I think If Congress doesn't act, we are three to five years away from seeing a 30 to 50 college football programs and every other program going under. because most of the programs are losing millions and even tens of millions of dollars and we'd end up with basically a mini NFL and the other programs going away.” (09:01–09:14)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.