Al Green on The Economy

Last Updated : Oct 22, 2010

Summary

Congressman Al Green has been a vocal supporter of the 2009 stimulus, TARP, CARS, and Wall Street Reform Legislation. He continues to push to federal programs to provide loans and housing for low income people in an effort to establish a "fairness" in the housing industry. He supports a mandatory paid parental leave of 4 weeks in the event of child birth or adoption.

Congressman Green voted in favor of the 2009 Stimulus package, in favor of the Wall Street Reform legislation, in favor of the TARP legislation, and in favor of the Bush Stimulus. 

 

Support for Small Business Jobs and Credit Act

On September 28, 2010 Congressman Green issued a press statement noting his support for the recently passed Small Business Jobs and Credit Act. He notes that he was one of a few Congressman invited to take place in the signing of the legislation.

 

Housing Discrimination

In July of 2010, Congressman Green released a press statement noting legislation that he was sponsoring to provide additional funding for the Office of Housing and Urban Development (HUD) to pursue cases of discrimination in housing. Congressman Green does not note the type of discrimination taking place, but requiring banks to lend money under the threat of discrimination lawsuits was one of the primary causes of the sub-prime market bubble. 

In July of 2007, Congressman Green introduced the Housing Fairness Act of 2007.  An associated press release notes that the purpose of the legislation is to provide funding for the testing of loan origination and possible discrimination.

 

Parental Leave

In June of 2010, Congressman Green issued a press statement noting his support for paid parental leave of up to four weeks for all workers.

 

Support for Wall Street Reform

On December 11, 2009 Congressman Green issued a press statement noting his support for the passage of Wall Street Reform Legislation.

 

Support for the Stimulus

In February of 2010, Congressman Green released a press statement noting the positive effects of the stimulus bill on the city of Houston. He listed several areas that had received money from the stimulus and hailed the program as laying a foundation for the new economy.

In April of 2010, Congressman Green released a press statement noting that the Houston area VA Regional Office had hired 51 new workers with funds from the American Recovery and Reinvestment Act. He cited the hiring as an example of the success of the stimulus bill.

 

 

Support for the CARS Program

On June 10, 2009 Congressman Green issued a press statement noting that he supported the CARS program which provided vouchers for people purchasing new vehicles.

 

Support for TARP

In October of 2008, Congressman Green noted his support for the passage of the Emergency Economic Stabilization Act, otherwise known as TARP.

 

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. Al Green voted in favor of the Small Business Jobs Tax Relief Act of 2010

Al Green 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 . Al Green voted against the Wall Street Reform and Consumer Protection Act of 2009.

Al Green voted against 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. Al Green voted in favor of the legislation to tax bonuses to TARP recepients.

Al Green 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. Al Green voted in favor of passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Al Green 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. Al Green voted in favor of the Wall Street Reform Legislation.

Al Green 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. Al Green voted in favor of the unified version of the Stimulus bill.

Al Green 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. Al Green voted in favor of the Stimulus when it passed the House.

Al Green 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. Al Green voted in favor of the Helping Families Save Their Homes Act of 2009.

Al Green 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. Al Green voted in favor of the Auto Industry Financing and Restructuring Act.

Al Green 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 Al Green voted in favor of the TARP program.

Al Green 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. Al Green voted in favor of the Bush Stimulus.

Al Green 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. Al Green voted in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Al Green 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. Al Green voted against the American Jobs Act.

Al Green voted against the American Jobs Act.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-H R 4302; Small Business Job Creation and Access to Capital Act of 2009 - Cosponsor

Amends the Small Business Act to increase maximum amounts of loans under the following Small Business Administration (SBA) loan programs: (1) the section 7(a) (general small business loans) guaranteed loan program; (2) the section 504 (state and local development company) program; and (3) the Microloan (small-scale loans to start-up, newly-established, and growing small businesses) program.

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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