Kirsten Gillibrand on The Economy

Last Updated : Nov 10, 2010

Summary

Senator Gillibrand voted in favor of the stimulus package, but has not been vocal in her support of the legislation. In a guidebook she issued for New Yorkers, she states that while the bill is not perfect, she believed that swift action was necessary. On her official website, she states that she was proud to support President Obama's economic recovery plan to create jobs through immediate investments in infrastructure and long term investments in education, renewable energy, and health care technology.

Senator Gillibrand voted in favor of the TARP program while in the US House, and has not been vocal in her support of that program either.

Senator Gillibrand has been more vocal in her support for the Wall Street Reform legislation, stating that taxpayers and middle class families are getting the protections they deserve after experiencing the worst financial crisis since the Great Depression. She is also a strong supporter of President Obama's plan to help families stay in their home by offering incentives to borrowers and lenders to make their mortgage affordable.

 

Support for the Stimulus

In a guidebook for the American Recovery and Reinvestment Act, Senator Gillibrand states her support for the Stimulus plan.

 

Campaign Video - The Economy

 

Support for Wall Street Reform Legislation

In May of 2010, Senator Gillibrand issued a press statement noting her support for the Wall Street Reform Legislation that had just passed the Senate.

 

Official Website Statements

 

Campaign 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. Kirsten Gillibrand voted in favor of the Wall Street Reform Legislation.

Kirsten Gillibrand 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. Kirsten Gillibrand voted in favor of the Stimulus in the final vote.

Kirsten Gillibrand 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. Kirsten Gillibrand voted in favor of the stimulus in the initial vote.

Kirsten Gillibrand voted in favor of the stimulus in the initial vote.

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. Kirsten Gillibrand voted in favor of the Helping Families Save Their Homes Act of 2009.

Kirsten Gillibrand 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. Kirsten Gillibrand voted in favor of the Auto Industry Financing and Restructuring Act.

Kirsten Gillibrand voted in favor of 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 Kirsten Gillibrand voted against the TARP Program.

Kirsten Gillibrand 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. Kirsten Gillibrand voted in favor of the Bush Stimulus.

Kirsten Gillibrand voted in favor of the Bush Stimulus.

 

Sponsored and Cosponsored Legislation

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-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 1678; Homebuyer Tax Credit Extension - Cosponsor

A bill to amend the Internal Revenue Code of 1986 to extend the first-time homebuyer tax credit, and for other purposes.

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