Amy Klobuchar on The Economy

Last Updated : Feb 22, 2011

First Time Home Buyers Tax Credit Act of 2007

In August of 2007, Senator Klobuchar released a press statement noting her sponsorship of the First Time Home Buyers Tax Credit Act of 2007.

 

Homeownership Preservation and Protection Act of 2007

In December of 2007, Senator Klobuchar released a press statement noting her support for the passage of the Homeownership Preservation and Protection Act of 2007.

 

The Bush Stimulus

In January of 2008, Senator Klobuchar released a press statement noting her support for a possible stimulus and her belief that any stimulus should include funding for renewable energy.

 

Middle Class Shouldn't Bear the Brunt

In late September of 2008, Senator Klobuchar released a press statement noting her opposition to possible financial rescue measures that would place the burden on the middle class.

 

Support for TARP

In October of 2008, Senator Klobuchar released a press statement noting that she supported the bailout legislation known as the Trouble Asset Relief Program, but that she did so with numerous reservations.

 

Holding Wall Street Accountable

In January of 2009, Senator Klobuchar released a press statement noting her support for requiring those who received TARP funds to be held more accoutable.

 

Support for Limiting CEO Pay

In February of 2009, Senator Klobuchar released a press statement noting her support for measures for limiting CEO pay.

 

Support for Stimulus

In February of 2009, Senator Klobuchar released a press statement noting her support for the Stimulus bill.

 

Credit Card Policies

In May of 2009, Senator Klobuchar released a press statement noting her support for reforming the credit card industries.

 

TARP Recipient Ownership Trust Act of 2009

In July of 2009, Senator Klobuchar released a press statement noting her support for measures to ensure that institutions receiving TARP funds are monitored.

 

Wall Street Reform Amendment - Predatory Lending

In May of 2010, Senator Klobuchar released a press statement noting an amendment that she supported which would restrict predatory lending practices.

 

Wall Street Reform Amendment - Community Banks

In June of 2010, Senator Klobuchar released a press statement noting her support for an amendment that dealt with Community Banks.

 

Final Passage of Wall Street Reform Bill

In July of 2010, Senator Klobuchar released a press statement noting her support for the passage of the wall street reform bill.

 

Small Business Jobs Act

In September of 2010, Senator Klobuchar released a press statement noting her support for the Small Business Jobs Act.

 

Official Website Statements

 

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. Amy Klobuchar voted in favor of the Wall Street Reform Legislation.

Amy Klobuchar 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. Amy Klobuchar voted in favor of the Stimulus in the final vote.

Amy Klobuchar 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. Amy Klobuchar voted in favor of the stimulus in the initial vote.

Amy Klobuchar 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. Amy Klobuchar voted against the resolution and in support of the second installment of TARP funds.

Amy Klobuchar 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. Amy Klobuchar voted in favor of the Helping Families Save Their Homes Act of 2009.

Amy Klobuchar 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. Amy Klobuchar voted in favor of the TARP program.

Amy Klobuchar 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. Amy Klobuchar voted in favor of the Bush Stimulus.

Amy Klobuchar voted in favor of the Bush Stimulus.

 

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 386; Fraud Enforcement and Recovery Act of 2009 - Cosponsor

An Act to improve enforcement of mortgage fraud, securities and commodities fraud, financial institution fraud, and other frauds related to Federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes

Session-112; Bill Number-S 18; 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. Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.

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 3; Homeowner Protection and Wall Street Accountability Act of 2009 - Cosponsor

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).

Session-111; Bill Number-S 386; Fraud Enforcement and Recovery Act of 2009 or FERA - Cosponsor

Legislation dealing with the TARP funds and designed to improve enforcement of mortgage fraud, securities and commodities fraud, financial institution fraud, and other frauds related to Federal assistance and relief programs, for the recovery of funds lost to these frauds, 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 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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