Gabrielle Giffords on The Economy

Last Updated : Jan 27, 2011

Summary

Congresswoman Giffords supported the Mortgage Debt Relief Act which would prevent any debt forgiven or renegotiated in foreclosure from being considered taxable income. In 2010, she called for a foreclosure moratorium and stated that standing by and doing nothing is not an option when the men and women face the prospect of losing the roof over their heads and that a moratorium would help make sure that homeowners facing foreclosure will be treated fairly.

When the TARP package was initially presented to Congress, Congresswoman Giffords rejected the package and stated that it failed to provide sufficient protections for American taxpayers. Days later, Congresswoman Giffords supported a reworked package in the House and then supported the final version of the bill after it returned from the Senate. In supporting the legislation, Congresswoman Giffords stated that she had no interest in bailing out the greedy corporate executives who created this mess, but that inaction at this time would be negligent.

Congresswoman Giffords supported the stimulus and stated that the legislation would stem job losses and protect critical infrastructure like our public education system. She stated that the legislation contains an historic level of transparency, oversight and accountability which will guarantee taxpayer dollars are spent wisely.

During the controversy concerning bonuses at AIG and other companies, Congresswoman Giffords supported imposing a $500,000 limit on pay for AIG employees.

Congresswoman Giffords also strongly supported the Wall Street Reform legislation. She stated the landmark legislation puts consumers first and will protect Arizonans and all Americans from the unfair practices of credit card and mortgage companies. She further stated that the legislation specifically prevents Wall Street from gambling with our money, reins in big banks and their excessive bonuses and puts an end to taxpayer bailouts and the idea of “too big to fail.”

 

Mortgage Debt Relief Act

In October of 2007, Congresswoman Giffords issued a press statement noting her support for the Mortgage Debt Relief Act.

 

Support for TARP

In September of 2008, Congresswoman Giffords released a press statement noting her opposition for the initial version of the Emergency Economic Stabilization Act. otherwise known as TARP. 

Days later, Congresswoman Giffords released another statement noting some improvements to the bill in the Senate version.

The following day, Congresswoman Giffords released a statement noting her vote in support for the TARP Program.

In October of 2008, Congresswoman issued a press statement noting her belief that the Attorney General should investigate possible criminal activity in the financial collapse. In January of 2009, Congresswoman Giffords voted to overhaul the program.

 

Support for the Stimulus

In 2009, Congresswoman Giffords issued a press statement noting her enthusiasm for the upcoming stimulus. After the stimulus package was passed through the House and Senate, Congresswoman Giffords issued another statement.

 

Support for Limiting Pay

In February of 2009, Congresswoman Giffords issued a press statement noting her belief that corporate pay should be limited.

In March of 2009, Congresswoman Giffords issued a press statement noting her support for having the Treasury Secretary block the AIG bonuses.

 

March 2009 Newsletter

Congresswoman Gifford's March 2009 newsletter addressed the issue of fiscal stimulus.

 

December 2009 Newsletter

In December of 2009, Congresswoman Giffords issued a newsletter and spoke about the success of the stimulus.

 

 

Support for Wall Street Reform

In December of 2009, Congresswoman Giffords released a press statement noting her support for recently passed Wall Street Reform legislation.

In June of 2010, Congresswoman Giffords released a statement noting her support for the reform and highlighting its contents.  In July of 2010, Congresswoman Giffords released another statement commemorating the President's signing of the legislation.

 

Green Valley News Interview

In August of 2010, Congresswoman Giffords was interviewed by the Green Valley News and asked about the weaknesses of the Financial Reform Legislation.

 

Press Statement - Foreclosure Moratorium

In October of 2010, Congresswoman Giffords released a press statement noting her support for a foreclosure moratorium.

 

Campaign Website Statements

 

 

Voting Record

Small Business Jobs Tax Relief Act of 2010

In June of 2010 the House voted to pass the Small Business Jobs Tax Relief Act of 2010. The act passed 247-170. Gabrielle Giffords voted in favor of the Small Business Jobs Tax Relief Act of 2010

Gabrielle Giffords voted in favor of the Small Business Jobs Tax Relief Act of 2010

Wall Street Reform and Consumer Protection Act of 2009

In June of 2010, the House voted on the Wall Street Reform and Consumer Protection Act of 2009. The act failed to pass in a . Gabrielle Giffords voted in favor of the Wall Street Reform and Consumer Protection Act of 2009.

Gabrielle Giffords voted in favor of the Wall Street Reform and Consumer Protection Act of 2009.

TARP Bonuses

In March of 2010, the House voted on legislation to impose an additional tax on bonuses received from certain TARP recipients, and for other purposes. The legislation passed the House 276-145. Gabrielle Giffords voted in favor of the legislation to tax bonuses to TARP recepients.

Gabrielle Giffords voted in favor of the legislation to tax bonuses to TARP recepients.

Small Business and Infrastructure Jobs Tax Act of 2010

In March of 2010 the House voted to pass the Small Business and Infrastructure Jobs Tax Act of 2010 246-178. Gabrielle Giffords voted in favor of passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Gabrielle Giffords voted in favor of passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Wall Street Reform

In late 2009, the House passed the Wall Street Reform and Consumer Protection Act of 2009. The legislation consolidated many financial regulatory agencies, increased transparency in the derivatives market, regulation of credit rating agencies, and a "resolution regime" to resolve insolvent banks. Gabrielle Giffords voted in favor of the Wall Street Reform Legislation.

Gabrielle Giffords voted in favor of the Wall Street Reform Legislation.

The Stimulus

After the Senate passed the Stimulus package, the House voted on a passage of a conference bill to join the House and Senate versions. Gabrielle Giffords voted in favor of the unified version of the Stimulus bill.

Gabrielle Giffords voted in favor of the unified version of the Stimulus bill.

The Stimulus

The Stimulus bill (The American Recovery and Reinvestment Act of 2009) passed through the House on January 28, just days after President Obama\'s inauguration. The bill got no support from Republicans and 11 Democrats voted against it as well. Gabrielle Giffords voted in favor of the Stimulus when it passed the House.

Gabrielle Giffords voted in favor of the Stimulus when it passed the House.

Helping Families Save Their Homes Act of 2009

The Helping Families Save Their Homes Act of 2009 was a program designed to assist those who may be able to remain in their home with a modest amount of government assistance. The bill got wide bi-partisan support in the House and passed 367-54. Gabrielle Giffords voted in favor of the Helping Families Save Their Homes Act of 2009.

Gabrielle Giffords voted in favor of the Helping Families Save Their Homes Act of 2009.

Auto Industry Financing and Restructuring Act

In December of 2008 the US House voted to pass the Auto Industry Financing and Restructuring Act. The act provided a loan to GM through TARP funds and set up a plan to allow the company to receive more if they demonstrated a path back to viability. The act failed to pass the Senate, but was used as a guideline for the GM bailout for the Obama administration. Gabrielle Giffords voted against the Auto Industry Financing and Restructuring Act.

Gabrielle Giffords voted against the Auto Industry Financing and Restructuring Act.

Troubled Asset Relief Program (TARP)

The TARP program was designed to prevent the failure of large banks by purchasing their "troubled assets" and allowing them to move them off their records as liabilities. The vote on the legislation passed 263-171 Gabrielle Giffords voted in favor of the TARP program.

Gabrielle Giffords voted in favor of the TARP program.

The Bush Stimulus

In early 2008, the Recovery Rebates and Economic Stimulus for the American People Act of 2008 was passed in an attempt to stimulate the economy. Also known as the Bush Stimulus, the act consisted largely of checks sent to individuals. The bill received wide bipartisan support and passed the House 385-35. Gabrielle Giffords voted in favor of the Bush Stimulus.

Gabrielle Giffords voted in favor of the Bush Stimulus.

 

Sponsored and Cosponsored Legislation

This representative has not been identified as sponsoring or cosponsoring significant legislation related to this title.

References

[1] Website: Green Valley News Article: U.S. House: Gabrielle Giffords (D) Author: NA Accessed on: 01/21/2011

[2] Website: March 2009 Newsletter Article: March 2009 Newsletter Author: Gabrielle Giffords Accessed on: 01/26/2011

[3] Website: December 2009 Newsletter Article: December 2009 Newsletter Author: Gabrielle Giffords Accessed on: 01/26/2011

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