US Senator Elizabeth Warren continues to spearhead her efforts for both improved government budget responsibility and tighter crypto regulatory measures.
The senator described her plan for efficient federal operations through two different letters while expressing his concerns about ethical problems related to crypto.
On Jan. 23 Warren presented 30 cost-saving proposals to Elon Musk at the helm of the Department of Government Efficiency (DOGE) that would slash $2 trillion from future federal outlays. Woven into her proposals are ways to protect vital social programs and rescue expenditure wastage. According to her:
“It would be outrageous to cut these programs in the name of government thriftiness while handing out trillions of dollars in tax cuts for billionaires and big corporations.”
Warren Pushes to Close Tax Loopholes Benefiting the Wealthy
Warren advocates dissolving tax loopholes from which wealthy individuals benefit including the carried interest provision. She proposed two taxation reforms for estates including a capital gains adjustment alongside full financing of IRS operations to combat tax evasion.
According to her proposal both improved tax collection and superior taxpayer service would result from these measures. She wrote:
“Fully funding the IRS would meet DOGE’s goals of making government more efficient and protecting taxpayers: it would allow the government to catch wealthy tax cheats that avoid paying their fair share and provide better service for millions of taxpayers that are owed refunds or need help with their taxes. Fully funding the IRS would lead to a 12:1 return on investment.”
According to the Democrat’s stance healthcare price reform which lets Medicare negotiate drug prices together with defense contract optimization creates important savings opportunities.
Federal waste reduction along with contract monopoly reform would defend small businesses from monopolies and minimize consumer expenses she insisted. She believed that these procedures would sustain basic public functions without harming national financial stability. Warren concluded:
“If you are serious about finding ways to make the federal government more efficient and save money for American taxpayers—without cutting key programs like Medicare, Medicaid, and Social Security, or raising taxes on middle class families—there are ample opportunities for you to do so. This letter provides you with 30 recommendations that would save at least $2 trillion.”
Warren Calls for Probe Into Trump-Themed Crypto Tokens
Senator Elizabeth Warren sent a letter on January 22 to three regulatory authorities including the Acting SEC Chair, Treasury Secretary and CFTC Chair to ask for investigations into crypto meme tokens connected to President Donald and Melania Trump.
Warren voiced her concerns about Trump-sponsored crypto coins TRUMP and MELANIA because she feels these tokens benefit the president by taking resources away from the public sector.
According to the official these digital tokens represented unpredictable assets designed to support financial wagering about Trump’s political position. These tokens hold risks that foreign governments could leverage to establish hidden political power within US elections. According to her:
“Anyone, including the leaders of hostile nations, can covertly buy these coins, raising the specter of uninhibited and untraceable foreign influence over the President of the United States, all while President Trump’s supporters are left to shoulder the risk of investing in $TRUMP and $MELANIA.”
During his meeting with the Washington Post the senator warned about ethical problems within the token because Trump will choose regulatory agency leaders from the crypto industry even after becoming president. According to Warren these developments created doubts about the justice of government decisions.
According to Warren the popular crypto tokens work directly against the intended beneficiaries of Trump’s political support. She wrote:
“This meme coin could hurt the very people President Trump says he is working to help.”
