Ted Cruz Has a Trillion-Dollar Idea to Reform the Fed

Ted Cruz has a trillion-dollar idea to reform the Fed

The right’s fight against bank reserve remuneration has gone transatlantic

Ted Cruz Intensifies Push to End Fed Interest Payments

Senator Ted Cruz is intensifying efforts to strip the Federal Reserve of its authority to pay interest to banks, pitching the proposal as a way to save more than $1 trillion over a decade to help offset the cost of President Donald Trump’s tax and spending package. The Texas Republican said Wednesday he has lobbied […]

Market stability threat: Cruz taps Trump, GOP allies to push Fed overhaul - Cruz's controversial proposal

Senator Ted Cruz is pushing a plan to end the Federal Reserve’s authority to pay banks interest on reserves. He claims this would save the U.S. government over $1 trillion. Cruz has discussed the idea with Donald Trump and Republican colleagues, emphasizing that half of the interest is paid to foreign banks—something he sees as senseless. (Source: Reuters) Cruz's controversial proposal

Cruz pitches $1.1T cut to Fed bank payments for Trump tax bill

Texas Senator Ted Cruz pitched Republican senators on ending the Federal Reserve's authority to pay interest to banks, claiming it would save $1.1 trillion over a decade, with members of the party's conservative flank lauding the idea.