Joseph Lieberman on The Economy

Last Updated : May 07, 2010

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. Joseph Lieberman voted in favor of the Wall Street Reform Legislation.

Joseph Lieberman 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. Joseph Lieberman voted in favor of the Stimulus in the final vote.

Joseph Lieberman 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. Joseph Lieberman voted in favor of the stimulus in the initial vote.

Joseph Lieberman 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. Joseph Lieberman voted against the resolution and in support of the second installment of TARP funds.

Joseph Lieberman 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. Joseph Lieberman voted in favor of the Helping Families Save Their Homes Act of 2009.

Joseph Lieberman 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. Joseph Lieberman voted in favor of the TARP program.

Joseph Lieberman 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. Joseph Lieberman voted in favor of the Bush Stimulus.

Joseph Lieberman 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. Joseph Lieberman voted against the Bankruptcy Reform bill.

Joseph Lieberman 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. Joseph Lieberman voted in favor of Sarbanes-Oxley.

Joseph Lieberman 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. Joseph Lieberman voted against the Financial Services Modernization Act of 1999.

Joseph Lieberman voted against the Financial Services Modernization Act of 1999.

 

Sponsored and Cosponsored Legislation

Session-112; Bill Number-S 72; Small Business Paperwork Mandate Elimination Act of 2011 - 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.

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

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 1; American Recovery and Reinvestment Act of 2009 - Cosponsor

Commonly referred to as the stimulus. Calls for the enactment of legislation to create jobs, restore economic growth, and strengthen America's middle class through measures that: (1) modernize the nation's infrastructure; (2) enhance America's energy independence; (3) expand educational opportunities; (4) preserve and improve affordable health care; (5) provide tax relief; and (6) protect those in greatest need.

Session-111; Bill Number-S 383; Special Inspector General for the Troubled Asset Relief Program Act of 2009 - Cosponsor

A bill to amend the Emergency Economic Stabilization Act of 2008 to provide the Special Inspector General with additional authorities and responsibilities, and for other purposes

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 541; The Depositor Protection Act of 2009 - Cosponsor

Amends the Federal Deposit Insurance Act to increase from $30 billion to $100 billion the maximum sum that the Federal Deposit Insurance Corporation (FDIC) is authorized to borrow from the Secretary of the Treasury. Authorizes a temporary increase, through calendar 2010, in such borrowing authority, up to a maximum of $500 billion, if the Secretary of the Treasury, in consultation with the President, determines that additional amounts above $100 billion are necessary, pursuant to the written recommendation of the FDIC Board of Directors and the Board of Governors of the Federal Reserve System (Federal Reserve Board).

Session-111; Bill Number-S 979; Small Business Health Options Program Act of 2009 or the SHOP Act - Cosponsor

A bill to amend the Public Health Service Act to establish a nationwide health insurance purchasing pool for small businesses and the self-employed that would offer a choice of private health plans and make health coverage more affordable, predictable, and accessible.

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