Dianne Feinstein on The Economy

Last Updated : Sep 20, 2012

The Bush Stimulus

In January of 2008, Senator Feinstein released a press statement noting her support for the Bush stimulus.

In February of 2008, Senator Feinstein released another press statement noting her support for the Bush stimulus and it's structure.

 

Foreclosure Assistance

In February of 2008, Senator Feinstein released a press statement noting her support for The Foreclosure Prevention Act and The Helping Families Save Their Homes in Bankruptcy Act.

 

TARP Funds

In January of 2009, Senator Feinstein released a press statement noting her support for legislation that would place restrictions on the use of TARP funds.

 

Cash for Clunkers

In January of 2009, Senator Feinstein issued a press statement noting her support for the cash for clunkers program.

The Stimulus

In february of 2009, Senator Feinstein released a press statement noting her support for the Stimulus package.

 

The Credit CARD Act

In May of 2009, Senator Feinstein released a press statement noting the passage of the Credit CARD Act.

 

Cash for Clunkers Program

In August of 2009, Senator Feinstein released a press statement noting her support for the CARS program and her support for it's extension. She issued a second statement in support of the extension after its passage.

 

Official Website Statements

 

 

JOBS Bill

In February of 2010, Senator Feinstein released a press statement noting her support for the JOBS Bill.

 

Wall Street Reform

In March of 2010, Senator Feinstein released a press statement noting her support for the passage of Wall Street Reform.

 

Voting Record

Wall Street Reform

In 2010, the Senate 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. Dianne Feinstein voted in favor of the Wall Street Reform Legislation.

Dianne Feinstein voted in favor of the Wall Street Reform Legislation.

The Stimulus

After the stimulus passed the House, the conference report was voted on to pass the unified version. Dianne Feinstein voted in favor of the Stimulus in the final vote.

Dianne Feinstein voted in favor of the Stimulus in the final vote.

The Stimulus

The Obama stimulus package passed through the Senate in January of 2009 and received the support of all Democrats and three Republicans. Dianne Feinstein voted in favor of the stimulus in the initial vote.

Dianne Feinstein voted in favor of the stimulus in the initial vote.

TARP Funds - Disapproval of Second Installment

In January of 2009, the Senate voted to released the second half of TARP funds to President Obama. Dianne Feinstein voted against the resolution and in support of the second installment of TARP funds.

Dianne Feinstein voted against the resolution and in support of the second installment of TARP funds.

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 Senate and passed 91-5. Dianne Feinstein voted in favor of the Helping Families Save Their Homes Act of 2009.

Dianne Feinstein voted in favor of the Helping Families Save Their Homes Act of 2009.

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 bill received both bipartisan support and bipartisan opposition and passed 74-25 with the two parties making up about half of each vote. In January of 2009, the Senate voted on granting the second half of the TARP funds to President Obama. Dianne Feinstein voted in favor of the TARP program.

Dianne Feinstein 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 Senate 81-16. Dianne Feinstein voted in favor of the Bush Stimulus.

Dianne Feinstein 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 '); echo('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 bipartisan support and passed 74-25. Dianne Feinstein voted against the Bankruptcy Reform bill.

Dianne Feinstein voted against the Bankruptcy Reform bill.

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 Senate 69-17.

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 almost unanimous support in the Senate and passed in a 99-1 vote. Dianne Feinstein voted in favor of Sarbanes-Oxley.

Dianne Feinstein 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. Dianne Feinstein voted against the Financial Services Modernization Act of 1999.

Dianne Feinstein voted against the Financial Services Modernization Act of 1999.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-S 133; Troubled Asset Relief Program Transparency Reporting Act - Prime Sponsor

Prohibits the use by a recipient or its subsidiary of Troubled Asset Relief Program (TARP) funds under the Emergency Economic Stabilization Act of 2008 for lobbying expenditures or political contributions. Requires the Secretary of the Treasury, through enhanced internal reporting and oversight requirements, to develop and publish corporate governance principles and ethical guidelines for such recipients, including specified restrictions. Sets forth recipient reporting and certifying requirements governing such TARP funds. Requires the Secretary to make such reports and certifications publicly available online and free of charge. Subjects persons to civil fines for violating such prohibition on the use of TARP funds or failing to file the required report or certification. Bars recipients from future TARP funds for noncompliance with such guidelines unless the Secretary determines that reasonable steps have been taken to bring their actions into compliance with and to prevent future violations of this Act.

Session-111; Bill Number-S 61; Helping Families Save Their Homes in Bankruptcy Act of 2009 - Cosponsor

Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such real property is less than the secured debt limit. Declares the credit counseling requirement inapplicable to a Chapter 13 debtor who certifies that he or she has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on the debtor's principal residence. Requires the court to disallow a claim that is subject to any remedy for damages or rescission due to violations of state or federal consumer protection law, including the Truth in Lending Act, notwithstanding the prior entry of a foreclosure judgment. Allows modification of the rights of claim holders, in the event of a foreclosure notice for a chapter 13 debtor, among other means by: (1) reducing a claim to equal the value of the debtor's interest in the residence securing such claim, and any adjustments to a related adjustable rate of interest; (2) waiving early repayment or prepayment penalties; and (3) extending the repayment period. Denies debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements. Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of such claim as reduced and modified or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith. Excludes from final discharge of a debtor from all debts: (1) any payments to claim holders whose rights are modified under this Act; and (2) any unpaid portion of a claim as reduced.

Session-111; Bill Number-S 2869; Small Business Job Creation and Access to Capital Act of 2009 - Cosponsor

Small Business Job Creation and Access to Capital Act of 2009 - Title I: Next Steps for Main Street Credit Availability - (Sec. 101) 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. Repeals on January 1, 2011, the percentage increases under the 7(a) guaranteed loan program. (Sec. 104) Amends the American Recovery and Reinvestment Act of 2009 to extend through 2010 SBA authority to reduce or eliminate loan fees on section 7(a) and 504 loans.

Session-111; Bill Number-S 1927; Credit Card Rate Freeze Act of 2009 - Cosponsor

Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009. Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.

Session-111; Bill Number-S 1200; Short Term Accelerated Retirement of Inefficient Vehicles Act of 2009 - Prime Sponsor

A bill to establish a temporary vehicle trade-in program through which the Secretary of Transportation shall provide financial incentives for consumers to replace fuel inefficient vehicles with vehicles that have above average fuel efficiency.

Session-111; Bill Number-S 116; TARP Assistance for Local Governments Act of 2009 - Prime Sponsor

Amends the Emergency Economic Stabilization Act of 2008 (EESA) to instruct the Secretary of the Treasury to use $10 billion of funds made available for the TARP (Troubled Asset Relief Program) to assist public instrumentalities, such as counties and cities, that have suffered significant increased costs or losses due to investments with failed financial institutions. Restricts such assistance to public instrumentalities that have suffered due to investments that were highly rated in any failed financial institution, whether or not the financial institution is assisted under such Act.

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