Voters are increasingly frustrated, yet Democrats remain unresponsive.

In a recent Senate vote, not a single Democrat supported advancing the Clarity Act, despite their claims about costs and affordability.

This legislation aimed to set clear guidelines for digital assets, potentially lowering transaction costs for average Americans.

Sadly, the bill failed to progress due to Democratic opposition.

Read more: How months of work on the Clarity Act all fell apart

When considering legislation like this, I reflect on whether it would benefit individuals like the single mother who raised me.

These are the very Americans Democrats profess to support. Yet, once in Washington, their votes consistently result in financial losses for hardworking families.

Americans strive to retain more of their income, but Democrats are pushing to increase taxes on overtime, tips, and Social Security. If their plans were enacted, many would see their monthly tax bills rise significantly.

Democrats squandered another chance to enhance financial well-being for Americans. Digital assets hold significant potential; they can decrease costs, expedite transactions, and support small business growth. However, without clear regulations, consumers and investors remain vulnerable.

My Republican colleagues and I, alongside some Democrats, dedicated over a year to negotiate this bill. Our final proposal incorporated more than 120 changes requested by Democrats, yet they still declined.

We successfully implemented expanded ethics provisions, including those related to President Trump and rules concerning elected officials and their spouses. We also ensured a substantial role for state attorneys general in enforcement and provided law enforcement with additional tools against money laundering.

Despite accommodating Democrats' requests, they continually shifted the goalposts. No amount of sincere negotiation would appease Democrats who prioritize political maneuvering over our nation’s financial stability.

At least 12 Senate Democrats professed a desire to reach a compromise. However, their words did not translate into action when it was time to vote; none supported moving the bill forward.

Ultimately, the Clarity Act was designed to protect average Americans, safeguard their earnings, create fair opportunities for entrepreneurs, and prevent criminals and foreign adversaries from exploiting our financial system.

Before my tenure in the Senate, I operated a small business and regularly hear from job creators about their need for regulatory certainty. Entrepreneurs in the financial sector often have practical questions: What regulations apply? Which agency oversees compliance? These answers significantly influence their operations and customer service.

Democrats understand this necessity, making last week's vote all the more exasperating.

With less than 40 days until Election Day, Democrats prioritized political gain over sound public policy. Their actions suggest a willingness to undermine President Trump’s potential bipartisan achievements rather than serve the American populace.

Following the Democrats' defeat of the Clarity Act, I urged the SEC and CFTC to establish clear regulations for digital assets while Congress continues its deliberations. These agencies need to clarify the rules governing the companies that interact with customers, as certainty is crucial.

I continually think about the individuals involved in these transactions.

A mother saving for her children's future understands the value of her hard-earned money.

A worker setting aside savings knows the effort required to make ends meet.

A business owner is aware of the employees relying on their paychecks.

This perspective, rooted in my South Carolina upbringing, emphasizes the importance of reducing costs and uncertainty, even as technology evolves.

My journey began with a single mother striving to provide a brighter future for her children. I remain acutely aware of her sacrifices and the significance of every dollar.

Democrats need to remember their constituents and prioritize their needs over political strategy, consultants, and special interests.

This election presents voters with a choice: one party that champions economic opportunity for all versus another that continues to siphon money from your pockets. Once again, Democrats chose to side with those taking away from Americans' financial well-being.

Note: The views expressed in this column belong to the author and do not necessarily represent those of CoinDesk, Inc. or its affiliates.