“I want to congratulate Alaska State Senator Lyman Hoffman on his retirement. He served in our state legislature for nearly 40 years. He worked hard to lower energy costs and help people living in rural Alaska.”

“Madam President, I come to the floor today to congratulate my friend and former colleague in the Alaska State Legislature. This is an individual for whom I have great respect, Senator Lyman Hoffman. Senator Hoffman is retiring after nearly four decades of service to Alaska. Few legislators leave behind legacies that are measured not only by their years of service but by the generations of lives they have improved. Senator Hoffman--the alltime longest serving member of the Alaska State Legislature--is one of those rare public servants. Throughout his nearly 40 years in office, Lyman has dedicated himself to improving the lives of Alaskans, particularly those in our State’s most remote and underserved communities. It has truly made a difference for them. Everyone who has spent time in the capital city of Juneau knows exactly where the center of gravity has been. It has been with Lyman. We have all come to appreciate and value his experience, his knowledge, and, really, the wisdom the man has. At first, you wouldn’t expect it, as he comes across as kind of a quiet guy with a gruff, deep voice. It is true to say he is a man of not too many words, but he is also a man who knows just exactly the right thing to say and the right time to say it. There have been many a legislator who have found themselves in some pretty tense budget negotiations in the senate finance committee. Senator Hoffman holds the gavel there. And in those settings, he can unnerve the most senior lawmaker just by sitting very quietly through an entire committee meeting before offering just a few choice words. When Lyman does speak, everybody listens because, again, he has this remarkable--almost uncanny--ability to cut through the politics and just focus on what really matters. And that is Lyman. You aren’t going to win a staring contest with him, but he can steer an entire negotiation with just a few carefully chosen words. As the longtime cochair of the senate finance committee, Senator Hoffman has become one of our State’s most influential leaders. Through administrations and periods of economic uncertainty, he has earned bipartisan respect for his careful stewardship of public resources, deep institutional knowledge, and the ability to build practical consensus. And perhaps the accomplishment for which Senator Hoffman will be best remembered is Alaska’s Power Cost Equalization Endowment. He worked, actually alongside, my father Gov. Frank Murkowski, and Lyman secured the long-term future of a program that helps make electricity more affordable in rural Alaska. Out in these regions, costs can be astonishingly high and can take up to half of a household’s budget. But, today, PCE is a major success. Its endowment exceeds over a billion dollars, and it continues to serve families and schools and health clinics and businesses across rural Alaska. Lyman is a little bit predictable, and I say that because I could always--always--count on Lyman Hoffman to ask me the hard questions. And I would give my annual address to the legislature, and Lyman would be sitting in the back of the chamber there. He would raise his hand, and he would say ``What are you doing to make energy cheaper?’’ or ``What are you doing to help rural Alaskans?’’ And I always knew it was coming. I always knew it was coming because Lyman was consistent that way. He was practical and he was purposeful and his clear focus--``What are you doing to help rural Alaskans?’’ ``What are you doing to help lower energy costs?’’--that helped guide me here on my own in the Senate. Because what Senator Hoffman understands is that energy policy is not just kilowatts and price per barrel; it is about whether families can afford to heat their homes, whether elders can stay warm in the wintertime, and whether communities have the opportunity to grow. And, again, this is where Lyman made his mark. As a leading advocate for Alaska’s statewide weatherization program, he helped secure more than $600 million to make homes more efficient for Alaskans. And, again, his work reflected a very simple belief: that every Alaskan, no matter where you live, deserves a safe, warm home. From the days that we served in the State legislature to the present, Lyman Hoffman has represented not only his district--which covers Southwest Alaska and out in the Aleutians--but really he helped all rural Alaska with genuine distinction and giving them voice, giving them hope, and delivering real results. And just as important as those results is the example Lyman has set as a public servant. He has demonstrated that lasting public policy is built through collaboration, rather than division. His influence extended far beyond the bills that he passed, shaping both the great State that he loves, the individuals who have served alongside him, and those that will follow him. And as I speak to Senator Hoffman’s impressive legacy, I also want to acknowledge that no public servant achieves these things alone. Behind every legislative session, every late-night budget negotiation, and every year devoted to serving Alaska, stood some key people--certainly his staff over the years, but always--always--Senator Hoffman’s family. His wife Lillian was always there. His children Trina and Douglas--I know that the family made countless quiet, meaningful sacrifices to make all this work possible. So you too deserve to be recognized. Alaska is stronger because Senator Lyman Hoffman chose to dedicate his life to others, and his work will continue to benefit our State for generations to come. So congratulations, Lyman Hoffman--my friend Lyman. Thank you. At some point--at some point--the special legislative sessions will end, and you will be able to conclude this incredible chapter of service to our State. And when that day arrives and long into the future, Alaskans will remember you. We will celebrate you, and we will remain grateful for all that you have done. I yield the floor. And I thank the Senator from Wyoming for the opportunity to speak.”

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“I want the Senate to pass the Clarity Act now. It sets clear rules for cryptocurrency. We have worked with Democrats for months to add their ideas and protect consumers. Without this bill, people will keep losing their money when crypto companies go bankrupt, and those businesses will leave the country.”

“I thank the Senator from Alaska for visiting about a local legislator. They are tremendously important to all of us. Madam President, yesterday I addressed this Chamber because we are wasting time we do not have to get the digital asset market structure bill passed, the bill called the Clarity Act. It is a strong bipartisan path forward that we have, and it is the best way for us to give digital assets, especially in this country, the certainty they need and ensure the United States leads on digital asset innovation. The way to do it is through bipartisan support of this bill. And, again, this is a very good bill, a bill created out of necessity because the status quo does not work. My friend Senator Kirsten Gillibrand and I released the Lummis- Gillibrand Responsible Financial Innovation Act together in 2022 to give the U.S. industry the regulatory clarity it needs to thrive on U.S. soil, to give consumers the confidence they need to participate in our digital economy, and give law enforcement the tools they need to crack down on illicit finance and hold bad actors accountable. That 168-page bill would become the foundation for the Clarity Act. A year later, in 2023, we added 100 pages with stronger consumer protection provisions. Yet, we got feedback from colleagues that they wanted more. So, again, we listened. Today, this bill that was under 300 pages is more than 600 pages. That is hundreds of pages built over 11 months of daily bipartisan negotiations in windowless rooms where colleagues from both parties shared their priorities, and we worked diligently to incorporate them. Title I alone has 33 separate Democrat-driven edits. We added 23 new sections on illicit finance at Democrats’ request. Democrats secured another 30 wins in the CFTC portion of the bill. Plus, we created the three entirely new titles they wanted. And that is all before we even get to ethics, where the President bent over backwards to get my Democrat colleagues to a ``yes.’’ We have 100 clear examples of compromise, and yet for some this still isn’t enough. Holding out for a perfect bill stopped being principled months ago. It has become an excuse not to legislate at all, and the people who pay for that excuse aren’t in this room. They are the people we are about to talk about: the digital asset industry and the consumers who wish to participate with confidence in this digital economy, not to mention the future generations who will miss out because too many in this Chamber said: Not yet. I am not ready. I have got an election in November. Don’t want to do it. The status quo in this industry doesn’t work. It is not working for the digital asset industry or law enforcement or consumers. We have already watched exchanges collapse with no functioning bankruptcy framework built for this asset class. And we have already watched ordinary people stand in line for years waiting on bankruptcy courts to claw back pennies on the dollar of what they lost. When Celsius and Voyager went bankrupt, customer deposits didn’t stay customer deposits. They became assets in a bankruptcy pool, fought over by creditors who had never even heard of the people who actually owned those assets. More than 4 million Americans lost access to their own money in 2022 because we don’t have the protections the Clarity Act puts in place, and thousands of them are still sorting through bankruptcy claims today. That is what no regulation looks like. That is not a hypothetical or a talking point. That is real people suffering real losses, real years spent in bankruptcy court fighting for money that should never have been up for grabs in the first place. Customers will, once again, be put in a nasty fight with Wall Street law firms that they have no hope to win. If you believe in consumer protection, we must pass this bill to give consumers the protection in bankruptcy they deserve. Not passing this bill means everyone in this Chamber will have to deservedly hang their heads the next time a crypto exchange collapses-- because there will be a next time, absent regulation. No one in this Chamber gets to act surprised by that. It already happened. And if we don’t get our acts together, it is going to happen again to our constituents under the exact same broken rules while we all sit here debating whether a bill with over 100 Democratic wins is still somehow not good enough. Another FTX is not a hypothetical we are guarding against; it is a guaranteed outcome of leaving this industry with no custody rules, no consumer protections, and no consequences when a platform fails people. And, by the way, foreign adversaries aren’t just waiting around for us to finish deliberating. They are moving money through the exact gaps this bill closes--right now, today--while we hold out for something more perfect than what is already sitting on the table. To those who have already said they are a ``no’’ vote, let me be clear: A ``no’’ vote isn’t a statement against President Trump because he has already given you what you asked for. It is a vote to keep American consumers inside a system we already know to be flawed on a theory that the fix wasn’t good enough. It is a vote to drive American innovation, American jobs, and American oversight of this jurisdiction to Singapore or the UAE or whichever jurisdiction is happy to take what we are too foolish to accept. That is the actual choice that faces us, not Republicans versus Democrats. It is fixed or flawed. It is America leading or America sidelined. We have served up this win for you and set it in front of you--over 100 wins in the base bill, an ethics agreement no other President in American history has volunteered. And by someone who didn’t even have to give an inch but did it because he believes that much in American innovation and what this asset class can bring for generations is worth protecting. Take it. Take it. Stop finding reasons not to. I know that if we fail here, this doesn’t come back next year or the year after that. The realistic next change at market structure legislation is likely 2030, at the earliest. In the meantime, we will lose businesses to other countries. We lose investment and jobs and tax revenue to jurisdictions moving faster than we are. We inhibit law enforcement’s ability to hold bad actors accountable, and we lose our seat at the table to shape how this industry grows. At the exact same moment, we have a chance to guide it responsibly. We didn’t get here by ceding the internet to Europe, and we cannot afford to cede digital assets the same way, especially now that we have already done the hard work--5\1/2\ years--putting this bill together. The window to lead right now is wide open. The end zone is inches away. But that window will not stay open for a body that continues to respond to opportunity with: Not yet. I have got an election. I don’t want to take a stand. Opportunity waits for no one. Let’s cinch up. Let’s punch the ball into the end zone and pass the CLARITY Act now. I yield the floor.”

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“I am honoring Sergeant Wayne Franklin Phillips for his military service in World War II and wishing him a happy 100th birthday.”

“Madam President, I am going to take us back 100 years to August 5, 1926. It was in the midst of the Roaring Twenties. Calvin Coolidge was the President. Babe Ruth was ruling professional baseball. There was no television. Horses and cars shared the streets together. Life expectancy was 57 years. The Great Depression was still off in the future. On August 5, 1926, a remarkable person was born, and I want to recognize him today. He is a World War II veteran and a loving husband, father, and grandfather. His name is SGT Wayne Franklin Phillips, and he is approaching an extraordinary milestone--his 100th birthday. Pretty amazing. We rise today to honor him, to reflect on his service and sacrifice as part of a generation that secured the freedoms that we enjoy today. I grew up in rural Northwest Ohio, nearly in the same neighborhood as SGT Wayne Franklin Phillips, and I am always proud of the people of rural Northwest Ohio. SGT Wayne Phillips is from Henry County, where he was born and raised on a farm and became a farmer in an area outside a small town--Hamler, OH--alongside his three brothers and three sisters. If you are ever in Hamler, OH, it is one of those places that are the heart of agriculture in Ohio. You can see to the horizon in all four directions, and I know the Presiding Officer from Iowa understands what I mean by that. It is just farmland as far as you can see. He graduated from Hamler High School at the age of 17, and he joined the Army’s 81st Readiness Division just months after receiving his high school diploma. Of course he did. That is what a lot of people his age did during that period of time. During his military service, Sergeant Phillips was briefly involved in the Battle of the Bulge. I think all of us who study our history know that was one of the largest and bloodiest battles fought by the American forces in World War II and really was the final battle to defeat Hitler’s Nazis. Over the course of 41 days, hundreds of thousands of Allied troops fought to halt that Nazi offensive in Western Europe, and they were successful in winning the final battle that led to the end of World War II. His service took him to Germany, the Philippines, and Japan. Following Japan’s surrender, Sergeant Phillips quickly rose through the ranks and earned the rank of technician fourth grade, becoming the youngest man in charge of a motor pool servicing trucks and military equipment. As you might expect, farm boys from Ohio knew how to fix things, and SGT Wayne Phillips was one of those. Like so many members of the ``greatest generation,’’ Sergeant Phillips helped defeat tyranny, liberate Europe, and preserve freedom for future generations. Because of the service and sacrifice of many Americans like him, our Nation and much of the world have enjoyed liberty and peace and prosperity for most of his life since then. We owe an enduring debt of gratitude to our veterans and more than 400,000 Americans who made the ultimate sacrifice during World War II. After being honorably discharged in 1946, Sergeant Phillips married his wife Eileen. Together, they raised three children: Wayne, Paul, and Martha. Today, he is also a proud grandfather, great-grandfather, as well as a devoted uncle. His commitment to service did not end when he returned home. When service is in your DNA, you serve your country, you serve your family, and you move home and you serve your community, and that is exactly what he did. As a respected civic leader in Henry County, he served 16 years as a Henry County commissioner and 4 years on the Deshler Village Council. Even as he approaches here in just a few days his 100th birthday-- this may be the most amazing thing when I think about it--SGT Wayne Phillips continues to drive to work each day, at age 100, to the Phillips Oil Company, the family business that he founded and continues to operate alongside and with many members of his family. Pretty amazing. He is also a devout man of faith. He is an active member of the Deshler United Methodist Church and also a part of Deshler American Legion and the Maumee Valley Sportsman’s Club. Sadly, the number of our surviving World War II veterans grows smaller each year. I have celebrated 100th birthdays of several of them. I always love to hear their stories. You know, you put yourself in their position--17 years old and you just graduated from high school, and you decide you are going to go off and serve your country in a war. So many of that generation stepped up and did that. That is why, when we honor someone like Wayne Phillips, we honor him and many others who are part of the most consequential chapters in our Nation’s history. It is our responsibility to ensure that their stories and their sacrifices are never forgotten. I say this often: We should honor what we value. We should honor what we value. And I hope that every time any of us--and I give remarks about veterans and World War II and the sacrifices that many generations of Americans have made--that we honor that so that our children hear that service and sacrifice are valued, are important. So on August 5, SGT Wayne Franklin Phillips will celebrate his 100th birthday. It is an honor for me to share his story with my colleagues today--a life defined by service, family, faith, community, and in support of our freedom. SGT Wayne Phillips is richly deserving of recognition as he reaches this remarkable milestone. I thank my colleagues for allowing me to honor this extraordinary Ohioan, and I extend my heartfelt congratulations to SGT Wayne Phillips on his 100th birthday. Congratulations. We celebrate you and your service. God bless you, and may God continue to bless America. I yield the floor.”

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