Secondly, we're gonna talk about a proposal that I've been championing to cut spending and to cut spending dramatically and that is for the Federal Reserve to stop paying interest on bank reserves. This is a proposal that could save over a trillion dollar dollars over 10 years. I've made this case directly to the President in the Oval Office. I've introduced legislation to make this happen. We're going to talk about exactly what it would mean and why it makes a difference. (00:54–01:00)
CLAIM
Asserts that [Ted Cruz's] proposal to stop the Federal Reserve from paying interest on bank reserves could save over a trillion dollars in 10 years.
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.
