Dave Reichert on The Economy

Last Updated : Oct 04, 2010

Campaign Website Statements

Economy

Creating jobs and revitalizing our economy is my top priority. As I travel throughout the district, I consistently hear from business owners, employees, and those looking for work about how America’s economy needs to get back on track. Expanding trade, keeping taxes low, and encouraging innovation and investment can create long-term, private-sector jobs.
Innovation
Innovation is the lifeblood of our region. We need to encourage that innovative and entrepreneurial spirit by providing incentives for investment, research and development.

Trade
Free trade is critical to Washington State’s economy and the 8th District. As many as one in three Washington State jobs are tied to trade – simply stated: more trade means more jobs. I'm leading the fight in Congress to open new markets for American goods and services through passage of pending free-trade agreements, and my recent appointment as one of just five U.S. Representatives on the President's Export Council gives me a unique opportunity to advocate for this action.

Taxes
The last thing Congress should do while the economy is struggling is raise taxes. But that is exactly what some Members of Congress want to do. We need to keep taxes low for individuals, families, and businesses and create targeted tax incentives that will provide the certainty businesses need to create jobs.

 

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. Dave Reichert voted against the Small Business Jobs Tax Relief Act of 2010

Dave Reichert voted against 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 . Dave Reichert voted in favor of the Wall Street Reform and Consumer Protection Act of 2009.

Dave Reichert 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. Dave Reichert cast a "No Vote"

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. Dave Reichert voted against passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Dave Reichert voted against 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. Dave Reichert voted against the Wall Street Reform Legislation.

Dave Reichert voted against 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. Dave Reichert voted against the unified version of the Stimulus bill.

Dave Reichert voted against 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. Dave Reichert voted against the Stimulus when it passed the House.

Dave Reichert voted against 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. Dave Reichert voted in favor of the Helping Families Save Their Homes Act of 2009.

Dave Reichert 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. Dave Reichert voted against the Auto Industry Financing and Restructuring Act.

Dave Reichert 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 Dave Reichert voted against the TARP Program.

Dave Reichert 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. Dave Reichert voted in favor of the Bush Stimulus.

Dave Reichert 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. Dave Reichert voted in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Dave Reichert voted in favor of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-H R 5141; Small Business Paperwork Mandate Elimination Act - Cosponsor

Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more.

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