Steve Pearce on The Economy

Last Updated : Sep 02, 2010

Campaign Website Statements

Creating Jobs and Economic Opportunity for New Mexicans…
Unemployment is up. Families are hurting and having trouble paying their bills. The American Dream is in jeopardy for many right now. Steve Pearce will fight to create jobs and get our economy moving. His priority is not to make Wall Street rich, but to rebuild the small businesses on the Main Streets of southern New Mexico. He will support policies that spark economic opportunity and create jobs. And Steve Pearce will fight for legislation to rebuild our manufacturing base by encouraging manufacturers to come back to this country.

 

Voting Record

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. Steve Pearce voted against the Auto Industry Financing and Restructuring Act.

Steve Pearce 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 Steve Pearce voted against the TARP Program.

Steve Pearce voted against 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. Steve Pearce voted in favor of the Bush Stimulus.

Steve Pearce 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. Steve Pearce voted in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Steve Pearce voted in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

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. Steve Pearce voted in favor of the American Jobs Act.

Steve Pearce voted in favor of the American Jobs Act.

 

Sponsored and Cosponsored Legislation

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

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