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Ted Cruz: “The misnamed Inflation Reduction act, which is actually what…”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

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Senator Ted Cruz Discusses Crypto Legislation and Policy Challenges

Published | Video Starts at 07:48

Look, I think the biggest challenge is, is is having enough time for Congress to understand crypto and bitcoin mining. You know, a couple of years ago we had had legislation, The misnamed Inflation Reduction act, which is actually what set the stage for Joe Biden's IRS rule attacking crypto. And at the time I introduced an amendment to strip out the provision in that bill that that was include crypto industry. (07:48–07:57)

CLAIM

Asserts that the Inflation Reduction Act led to an IRS rule targeting cryptocurrency.

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