Fireside Chat with Senator Ted Cruz - Texas Venture Gala

Overview

Glenn Hamer, leader of the Texas Chamber of Commerce, hosted a fireside chat with U.S. Senator Ted Cruz at the Texas Venture Gala. The discussion centered on Senator Cruz's legislative achievements, his policy priorities for Texas and the nation, and his role as the new Chairman of the Senate Commerce Committee. The event began with Glenn Hamer reading a commendation letter from President Trump praising Texas business leaders.

Letter from the White House (President Trump)

• Praised Texas for embodying "freedom, opportunity, ambition, and resilience."
• Commended Texas business leaders for promoting innovation, revitalizing manufacturing, and empowering the American workforce.
• Stated his administration is "championing policies that will unleash the full might of American enterprise, including cutting taxes, slashing unnecessary regulation, and securing trade deals that put America first."
• Highlighted Texas's status as a top 10 global economy.

Senator Cruz's Remarks & Legislative Achievements

Core Priority: Jobs

• "My number one priority in the Senate for the last 13 years has been one thing. Jobs. Jobs, jobs, jobs."
• Attributed Texas's population boom (1000+ people a day) to job availability.
• Sees Austin becoming Silicon Valley, Dallas becoming Wall Street, and Houston as the "energy capital of the universe."
• Believes jobs come from entrepreneurs, not government, but Washington can "screw it up."
• Key Levers: Tax reform and regulatory reform are the most effective government tools for job creation.
• Small Business Focus: "2/3 of all new jobs come from small businesses." Advocated for policies that help small businesses flourish.

Recent Legislative Victories (Last 4 Weeks as of May 29, 2025)

1. Cryptocurrency Regulation Repeal: Authored a Congressional Review Act resolution to repeal a Biden IRS rule "hammering crypto" and decentralized finance. Passed with 70 Senate votes (most ever for such a resolution) and signed into law by President Trump.
2. Take It Down Act: Authored in response to a constituent case involving AI-generated deepfakes of a 14-year-old girl.
   • Makes it a federal felony to post non-consensual intimate imagery (real or deepfake).
   • Imposes a federal obligation on tech platforms to remove such content upon victim notification.
   • Passed unanimously in the Senate, with bipartisan support and backing from First Lady Melania Trump. Signed into law by President Trump.

Legislative Items in the "One Big Beautiful Bill" (House Reconciliation Bill)

1. No Tax on Tips: Authored legislation to eliminate federal income tax on tips for service workers. "I think the Republican Party is a blue-collar party now."
2. Spectrum Auction Authorization: Legislation mandating the auction of at least 600 MHz of mid-band spectrum. Projected to generate $88 billion in federal revenue and unleash billions in private investment for 5G/6G, ensuring U.S. leadership over China.
3. Federal School Choice Tax Credit: Creates a dollar-for-dollar federal tax credit for contributions to K-12 scholarship-granting organizations. Called school choice the "civil rights issue of the 21st century."
4. Invest America Act:
   • Creates a personal investment account for every newborn child in America, seeded with $1,000.
   • Allows up to $5,000/year in tax-advantaged contributions, invested in a broad-based equity fund (e.g., S&P 500 ETF/mutual fund).
   • Aims to give every child access to "the miracle of compound growth" and create a "new generation of capitalists."
   • Example: A child with $1k seed + $5k/year could have $170k by age 18 and $700k by age 35 (assuming historical S&P growth).
   • Supported by Michael Dell and the CEO's Council, who have committed to contributing/matching for their employees' children. Envisioned to become ubiquitous like 401(k)s.

Other Notable Achievements Mentioned by Glenn Hamer

• USMCA & Border Permitting: Sponsored legislation to expedite the brick-building permit process between Texas and Mexico (now law), seen as crucial for supply chain security.
• Semiconductor Factory Permitting: Co-sponsored legislation to expedite permitting for semiconductor factories. "It shouldn't take longer to permit a factory than to build it."
• Over 100 laws passed with Senator Cruz's name, mostly bipartisan.

Senate Commerce Committee Chairmanship

• Senator Cruz is the first Texan in history to chair this committee.
• Jurisdiction: Over 40% of the U.S. economy, including Department of Transportation (cars, trucks, trains, pipelines), aviation (planes, helicopters, drones), NASA & commercial space, FCC (TV, radio, tech, AI, privacy), FTC (antitrust, consumer protection), National Science Foundation, weather, sports, Coast Guard, and the Panama Canal.
• FAA Reauthorization Example:
  • Led the $110 billion bill as Ranking Member.
  • Secured a direct flight for San Antonio to DCA (Reagan National) despite significant opposition, by leveraging the inclusion of over 200 amendments from other senators.
  • Authored a provision directing the FAA to create a Center for Advanced Aviation, with criteria specifically written to ensure its location at DFW (led by Texas A&M). This is expected to bring billions in investment and thousands of jobs to Texas, making the state central to future air travel regulations.
  • Joked about telling his staff and the Secretary of Transportation that if the center didn't go to DFW, "I will hunt you down and kill you."

Key Themes & Sentiments

• Texas Exceptionalism: Emphasized the unique entrepreneurial spirit and "frontier mentality" of Texas.
• Pro-Business Stance: Strong focus on cutting taxes, reducing regulations, and fostering an environment for business growth, especially small businesses.
• Optimism for Current Administration: Praised the Trump administration for its velocity in regulatory reform and expressed confidence in passing significant tax cuts.
• Bipartisanship on Specific Issues: Highlighted bipartisan support for several of his bills (e.g., Take It Down Act, FAA Reauthorization).
• National Security through Economic Strength: Linked economic policies like spectrum auctions and domestic manufacturing to U.S. competitiveness against China.
• Legacy Focus: Identified school choice and the Invest America Act as potentially the most enduring legacies of the current legislative efforts.

Notable Quotes

• Senator Ted Cruz on his priority: "My number one priority in the Senate for the last 13 years has been one thing. Jobs. Jobs, jobs, jobs."
• Senator Ted Cruz on Texas: "Austin is becoming Silicon Valley. Dallas is becoming Wall Street. Houston is the energy capital of the universe."
• Senator Ted Cruz on California: Nominated Gavin Newsom as "Texas Realtor of the Year" for driving people to Texas.
• Senator Ted Cruz on the Invest America Act: "This legislation will create a new generation of capitalists."
• Senator Ted Cruz on his Commerce Chairmanship: "If your priority is jobs, there are very few positions as impactful for jobs in Texas than being the chairman of the Senate Commerce Committee."
• Glenn Hamer on Senator Cruz's effectiveness: "Since 2013, the Senator has been, I would argue, as effective as any member of Congress in getting things done that are important for the American people and the people of Texas."

Dignitaries Recognized by Glenn Hamer

• Representative O'Donnell
• Sir Connor Byrne (UK political leader, key to Texas-UK trade agreement)
• Robbie Hull (Consul General from Ireland, based in Austin)
• Aaron Demerson (Runs Governor Abbott's Texas Economic Development Corporation)

Closing

Glenn Hamer praised Senator Cruz for his service, effective staff, and commitment to the free market system, noting the U.S. Chamber's endorsement. The event concluded with CS Freeland presenting Senator Cruz with the "U.S. Senator of the Year Award" (a badass boot).