John Kerry on The Economy
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. John Kerry voted in favor of the Wall Street Reform Legislation.
John Kerry voted in favor of the Wall Street Reform Legislation.
After the stimulus passed the House, the conference report was voted on to pass the unified version. John Kerry voted in favor of the Stimulus in the final vote.
John Kerry voted in favor of the Stimulus in the final vote.
John Kerry 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. John Kerry voted against the resolution and in support of the second installment of TARP funds.
John Kerry 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. John Kerry voted in favor of the Helping Families Save Their Homes Act of 2009.
John Kerry 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. John Kerry voted in favor of the TARP program.
John Kerry 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. John Kerry voted in favor of the Bush Stimulus.
John Kerry voted in favor of the Bush Stimulus.
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. John Kerry voted against the Bankruptcy Reform bill.
John Kerry 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. John Kerry cast a "No Vote"
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. John Kerry voted in favor of Sarbanes-Oxley.
John Kerry 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. John Kerry voted against the Financial Services Modernization Act of 1999.
John Kerry voted against the Financial Services Modernization Act of 1999.
Sponsored and Cosponsored Legislation
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.
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.
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.
Expresses the sense of Congress that Congress should enact, and the President should sign, legislation to: (1) stabilize the housing market and assist homeowners by imposing a temporary moratorium on foreclosures, removing impediments to the modification of distressed mortgages, creating tax and other incentives to help prevent foreclosures and encourage refinancing into affordable and sustainable mortgage solutions, and pursuing other foreclosure-prevention policies through the Troubled Asset Relief Program (TARP) or other programs; (2) ensure the safety and soundness of the U.S. financial system for investors by reforming the financial-regulatory system, strengthening systemic-risk regulation, enhancing market transparency, and increasing consumer protections in financial regulation to prevent predatory lending practices; (3) ensure credit-card accountability, responsibility, and disclosure; and (4) stabilize credit markets for small-business lenders to enhance their ability to make loans to small firms, and stimulate the small-business loan markets by temporarily streamlining and investing in the loan programs of the Small Business Administration (SBA).
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.
Amends the Internal Revenue Code to impose an excise tax on excessive bonuses paid by federal emergency economic assistance recipients to their employees (including directors or officers). Sets the overall rate of such tax at 70% of the amount of such bonuses, 35% payable by federal emergency economic assistance recipients and 35% payable by the employees of such recipients. Exempts bonus recipients who repay bonus amounts to the federal government. Defines "excessive bonus" as any retention bonus or other bonus that exceeds $50,000 paid by a federal emergency economic assistance recipient after December 31, 2008.
A bill to amend the Consumer Credit Protection Act, to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.