Sen. Dick Durbin, a Democrat from Illinois, is pushing to derail President Trump’s Genius Act. The bill aims to establish a federal framework for stablecoins, digital dollars backed by U.S. currency. Some Republicans are aiding this effort, threatening America’s financial tech dominance.

The Genius Act is a cornerstone of Trump’s plan to lead global finance. It ensures the U.S., not China, shapes the future of digital payments. Trump and Vice President JD Vance prioritize its passage, with Vance stating, “We’re optimistic that the Senate is able to move quickly on passing a clean Genius Act and for the House to follow up and do the same.”

Durbin, with Sen. Roger Marshall, a Kansas Republican, wants to attach the Credit Card Competition Act to the Genius Act. This amendment would force credit cards to use at least two payment networks, allowing retailers to choose cheaper, less secure options. It mirrors Durbin’s 2010 amendment, which cost consumers dearly.

In 2010, Durbin’s amendment shifted payment processing costs from retailers to credit card companies. He claimed consumers would save as retailers passed on savings. A Federal Reserve-backed study found only 1 percent of merchants lowered prices, while 22 percent raised them, slashing rewards and free checking accounts.

The 2010 amendment handed mega-retailers like Walmart and Target a $90 billion windfall, as Scott Garrett, former House Financial Services Subcommittee chairman, noted. Cardholders lost, with rewards programs cut by 30 percent. The Progressive Policy Institute later admitted the policy’s failure, urging Congress to reconsider.

The Credit Card Competition Act repeats this mistake. It disrupts the free market, where consumers pick cards and merchants choose which to accept. Garrett warns, “Amazon, Walmart, and Target would benefit. Rural consumers, community banks, and small businesses would lose.”

The amendment threatens the Genius Act’s bipartisan support. Sen. Thom Tillis, a North Carolina Republican, vowed to withdraw support if the Credit Card Competition Act is included. He sees it as a “poison-pill” that could kill the bill’s chances.

Durbin’s 2010 amendment proved detrimental. Garrett recalls, “Main Street lost. Big box stores cashed in.” The new bill risks eliminating cash back, airline miles, and travel perks millions rely on, favoring mega-retailers over everyday Americans.

Trump’s vision is clear: dominate financial technology. Garrett emphasizes, “President Trump has made his priorities clear. He wants America to dominate in financial technology — not hand the future to China.” The Genius Act supports innovation, consumer protection, and the dollar’s global status.

Vance’s call for a “clean” Genius Act reflects Trump’s urgency. Attaching Durbin’s amendment could stall progress, undermining years of bipartisan work. Posts on X highlight conservative outrage, labeling the move a sabotage of Trump’s crypto agenda.

Marshall’s alliance with Durbin alarms conservatives. Garrett questions, “Republicans can’t claim to support Trump’s economic agenda while carrying water for woke corporations and their favorite Democrat senator.” The GOP must choose between Main Street and corporate interests.

The Credit Card Competition Act benefits big retailers, not consumers. Historical data shows Durbin’s promises of savings fail to materialize. Small businesses and rural consumers face higher costs and fewer benefits under such policies.

Congress must reject backroom deals. The Genius Act is a win for innovation and U.S. leadership. Garrett urges, “The country doesn’t need another Durbin amendment. It needs leadership.”

Republicans must rally behind Trump’s vision. Passing a clean Genius Act secures America’s financial future. Conservatives stand firm, rejecting Durbin’s cronyism to champion innovation and protect Main Street.