Shelley Berkley on The Economy

Last Updated : Oct 29, 2012

Summary

The Bush Stimulus

Congresswoman Berkley supported the Bush stimulus plan in 2008. She stated that the rebate checks will help families stretch their dollars at a time when many women and men in the Las Vegas Valley are working day and night just to make ends meet.

Cash for Clunkers

In 2009, Congresswoman Berkley supported the extension of the Cash for Clunkers program. She stated that the program was good for our car and truck dealers and it helps our goal of reducing emissions tied to global climate change.

Build America and Recovery Zone Act

In 2010, Congresswoman Berkley supported the Build America and Recovery Zone Act. The legislation would have extended the Build America Bonds program, created a 100 percent exclusion of small business capital gains, created a small business penalty relief, and increased deductions for start-up expenditures.

Wall Street Reform

In 2010, Congresswoman Berkley supported the Wall Street Reform legislation, stating that the predatory, greedy and irresponsible actions by some large institutions in the financial markets were a major cause of the worst financial crisis to hit Nevada and the nation since the days of the Great Depression. She cited this as the reason for enacting what she called a tough package of common-sense rules that will police the big banks and Wall Street and prevent them from putting the savings of Nevada families at risk through predatory lending and reckless investment strategies.

Community Recovery and Enhancement Act

Congresswoman Berkley introduced the Community Recovery and Enhancement Act in 2010 and 2011. This legislation would have provided a tax incentive in the form of immediate depreciation on qualifying elements of a comercial real estate investment. The Berkley proposal required 80% of an investment be used to lower commercial mortgage debt secured by commercial property. Remaining funds must be tapped for improvements such as increased energy efficiency. Those who invest negotiate a share of ownership in the business that receives the funding and are allowed a one-time 50% bonus depreciation.

American Jobs First Act

The American Jobs Act was a 2011 proposal t temporarily reduce the tax rate on repatriated earnings for companies that hire new workers or increase employees’ wages. Other proposals did not link tax reduction to job creation for repatriated earnings.

 

The Bush Stimulus

In February of 2008, Congresswoman Berkley issued a press statement noting her support for the Bush stimulus package.

 

Support for Cash for Clunkers

In July of 2009, Congresswoman Berkley issued a press statement noting her support for extending the Cask for Clunkers program.

 

Build America and Recovery Zone Act

In March of 2010, Congresswoman Berkley issued a press statement noting her support for the Build America and Recovery Zone Act.

 

Support for Wall Street Reform

In May of 2010, Congresswoman Berkley issued a press statement noting her support for the passage of the Wall Street Reform and Consumer Protection Act.

 

Closing Loopholes

In May of 2010, Congresswoman Berkley issued a press statement noting her support for the American Jobs and Closing Loopholes Act.

 

Community Recovery and Enhancement Act

July of 2010, Congresswoman Berkley issued a press statement noting her support for the Community Recovery and Enhancement Act.

 

Reintroduction of CRE

In March of 2011, Congresswoman Berkley issued a press statement noting her reintroduction of the Community Recovery and Enhancement Act.

 

American Jobs First Act

In July of 2011, Congresswoman Berkley issued a press statement noting the American Jobs Act. That legislation would provide a series of tax cuts to encourage overseas assets could be brought back to the US.

 

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. Shelley Berkley voted in favor of the Small Business Jobs Tax Relief Act of 2010

Shelley Berkley 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 . Shelley Berkley cast a "No Vote"

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. Shelley Berkley voted in favor of the legislation to tax bonuses to TARP recepients.

Shelley Berkley 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. Shelley Berkley voted in favor of passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Shelley Berkley 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. Shelley Berkley voted in favor of the Wall Street Reform Legislation.

Shelley Berkley 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. Shelley Berkley voted in favor of the unified version of the Stimulus bill.

Shelley Berkley 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. Shelley Berkley voted in favor of the Stimulus when it passed the House.

Shelley Berkley 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. Shelley Berkley voted in favor of the Helping Families Save Their Homes Act of 2009.

Shelley Berkley 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. Shelley Berkley voted in favor of the Auto Industry Financing and Restructuring Act.

Shelley Berkley voted in favor of 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 Shelley Berkley voted in favor of the TARP program.

Shelley Berkley 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. Shelley Berkley voted in favor of the Bush Stimulus.

Shelley Berkley voted in favor of the Bush Stimulus.

Bankruptcy Reform

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 completely redefined bankruptcy in the United States. The bill made it much more for people to walk away from unsecured debt, such as credit cards, and permitted the court to award some compensation to creditors in the event that a bankruptcy was awarded. The bill got moderate bipartisan support and passed 302-126. Shelley Berkley cast a "No Vote"

American Jobs Creation Act

The American Jobs Creation Act was a Republican plan that was signed into law in the summer of 2004. The legislation ending some taxes in the agriculture industry, reduced corporate tax rates from 35% to 32%, reduced taxation on overseas income, and provisions to help companies invest in equipment. It passed the House 251-178. Shelley Berkley voted against the American Jobs Act.

Shelley Berkley voted against the American Jobs Act.

Sarbanes-Oxley

In response to Enron and other accounting scandals, Congress passed a bill which imposed a number of book-keeping and accounting regulations on several industries. The Sarbanes-Oxley Act of 2002 The bill received moderate bi-partisan support in the House and passed in a 334-90 vote. Shelley Berkley voted in favor of Sarbanes-Oxley.

Shelley Berkley voted in favor of Sarbanes-Oxley.

Financial Services Modernization Act of 1999

Also known as GRAMM-LEACH-BLILEY ACT, this legislation ended the Glass-Stegall rule that separated banking institutions from investment institutions. Shelley Berkley voted in favor of the Financial Services Modernization Act of 1999.

Shelley Berkley voted in favor of the Financial Services Modernization Act of 1999.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-H R 4290; New Deal for a New Economy Act - Cosponsor

Directs the Secretary of the Treasury, from unobligated funds under the Emergency Economic Stabilization Act of 2008 (EESA), to make specified sums available for FY2010-FY2012 to the Secretary of Education, the Attorney General, the Secretary of Homeland Security (DHS), and the Secretaries of Commerce, Labor, the Interior, and Agriculture. Requires: (1) the Secretary of Education to allocate, and each eligible local educational agency in the state to receive, funds in proportion to amounts received under the Elementary and Secondary Education Act of 1965; and (2) a state to make and distribute the amount allocated to it within 90 days of receipt. Authorizes the use of funds to hire new employees, rehire employees laid off during the year prior to enactment, continue to employ employees scheduled to be laid off as a result of reduced budgets, and prevent furloughs scheduled as a result of reduced budgets.

Session-111; Bill Number-H R 1586; Taxing Bonuses - Cosponsor

Imposes an additional income tax on bonuses paid to employees or former employees of covered Troubled Assets Relief Program (TARP) recipients after December 31, 2008. Defines "covered TARP recipient" to include: (1) entities and their affiliates and partnerships that received capital infusions under the Emergency Economic Stabilization Act of 2008 exceeding $5 billion after December 31, 2007; and (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

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