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GILLIBRAND STATEMENT ON GUARD ACT PASSING OUT OF COMMITTEE

Washington, D.C. – Today, U.S. Senator Kirsten Gillibrand, the top Democrat on the Senate Aging Committee, released the following statement on the passage of her legislation, the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, out of the Senate Judiciary Committee.

“Today’s committee passage brings us one step closer to giving law enforcement agencies the tools they need to protect seniors from financial frauds and scams.

As the top Democrat on the Senate Aging Committee, I know how devastating these scams can be for older adults and their families. In the past few years, bad actors have increasingly leveraged technology like artificial intelligence and the blockchain to rob older adults of their hard-earned savings. That is unacceptable.

I am proud to see this legislation move forward, and I will keep working across the aisle to make sure that older Americans are protected from financial exploitation.”

The GUARD Act would allow grantees of several existing federal grant programs to use funds to increase resources and personnel specifically to utilize the blockchain for investigating financial fraud. It would also permit federal law enforcement to assist state and local law enforcement with tracing tools for blockchain technology, bolstering their ability to catch fraudsters who use cryptocurrency to facilitate their crimes.

According to the FBI, seniors lost over $4.8 billion to scammers in 2024, with an average loss of $83,000. Cryptocurrency was used to facilitate the crime in over 30,000 reports of fraud against seniors, resulting in a net loss of about $2.84 billion – over half of the total. Older Americans are by far the most vulnerable and susceptible to cryptocurrency fraud, with over 10,000 more complaints referencing cryptocurrency than any other age group.

Senator Gillibrand has worked to prevent financial fraud throughout her time in office. As ranking member of the Senate Aging Committee, she has led the fight to protect seniors from frauds and scams, raised awareness about predatory scammers targeting seniors, and demanded answers from those attempting to cut funding for agencies like the CFPB. She has also introduced legislation such as the National Strategy for Combating Scams Act, the Stop the Scammers Act, the Senior Financial Empowerment Act, and the DO NOT CALL Act, as well as the SNAP Theft Protection Act, the core of which was passed into law in 2022.

The full text of the GUARD Act is available here.

GILLIBRAND STATEMENT ON GATEWAY DEVELOPMENT COMMISSION  

LAWSUIT AGAINST TRUMP ADMINISTRATION 

New York, NY – Today, U.S. Senator Kirsten Gillibrand, ranking member of the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development, released the following statement regarding the Gateway Development Commission’s lawsuit against the Trump administration seeking judgment that would release contractually obligated funding for the Hudson Tunnel Gateway Project. 

If additional funding does not become available by February 6, 2026, construction of the Hudson Tunnel Project will be forced to pause, resulting in the loss of approximately 1,000 jobs.

The $16 billion project is expected to create approximately 95,000 direct and indirect jobs over the course of the project and would construct a new rail tunnel beneath the Hudson River connecting New Jersey and New York City, which over 200,000 people rely upon every day.

Through her ranking member position, Senator Gillibrand has repeatedly pushed the U.S. Department of Transportation to complete the reviews and release the federal funding. On numerous occasions, USDOT committed to quick reviews so that reimbursements can move forward.

“New Yorkers will not tolerate the Trump administration playing political games with our workers or our economy. Once again, we are forced to rely on the courts to protect our state from the unlawful actions of this administration.   

The Hudson Tunnel Gateway Project is already supporting thousands of good-paying union jobs, generating billions of dollars in regional economic activity, and sustaining domestic suppliers and manufacturers. Further political targeting to justify withholding federal funding is inexcusable. These actions put union workers and families across New York and New Jersey at risk and threaten the most critical infrastructure project in the nation.

As ranking member of the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development, I secured clear commitments from Transportation Secretary Duffy that he would not cancel grants for major transit capital investment projects, including Gateway. It’s time to make good on that commitment. I am going to fight to ensure that New Yorkers not be treated as political pawns in this administration’s twisted game of chess.”