Sheldon Whitehouse on The Economy

Last Updated : Mar 12, 2011

The Bush Stimulus and the Elderly

In January of 2008, Senator Whitehouse released a press statement noting his view that any stimulus should focus on assisting the elderly.

 

Consumer Credit Fairness Act

In July of 2008, Senator Whitehouse released a press statement noting his support for the Consumer Credit Fairness Act.

 

TARP and Helping Families Save Their Homes in Bankruptcy Act

In September of 2008, Senator Whitehouse released a press statement noting his support for including the Helping Families Save Their Homes in Bankruptcy Act in the TARP Legisation.

 

More Work to be Done on TARP

In September of 2008, Senator Whitehouse released a press statement noting that more work needed to be done to complete the bailout legislation - TARP.

 

Urging a New Stimulus

In October of 2008, Senator Whitehouse released a press statement noting a letter sent to Senate Majority Leader Reid calling for a new stimulus.

 

Support for Mortgage Modification

In October of 2008, Senator Whitehouse issued a press statement noting his support for programs to allow struggling homeowners to modify their mortgages.

 

Executive Bonuses

In January of 2009, Senator Whitehouse released a press statement noting a speech he gave to voice his opposition to allowing executive bonuses.

 

Hardball Appearance

On February 3, 2009 Senator Whitehouse appeared on Hardball and spoke about the second installment of TARP and the stimulus plan.

 

Stimulus Bill a Promise Kept

In February of 2009, Senator Whitehouse released a press statement noting his support for the stimulus legislation and calling it a promise kept to the American people.

On February 13, 2009 Senator Whitehouse spoke on the Senate floor about the stimulus plan and his support for it.

 

Legislation to Recoup Bonuses

In February of 2009, Senator Whitehouse released a press statement noting his support for legislation to recoup bonuses from executives that received TARP funds.

 

Fraud Enforcement and Recovery Act

In April of 2009, Senator Whitehouse released a press statement noting the passage of the Fraud Enforcement and Recovery Act.

 

Support for Credit CARD Act

In May of 2009, Senator Whitehouse released a press statement noting his support for the Credit CARD Act.

 

Support for Senate Jobs Bill

In February of 2010, Senator Whitehouse released a press statement noting his support for the passage of the Jobs Bill.

 

American Workers, State, and Business Relief Act

In March of 2010, Senator Whitehouse released a press statement noting his support for the American Workers, State, and Business Relief Act.

 

The HIRE Act

In March of 2010, Senator Whitehouse released a press statement noting his support for the HIRE Act.

 

Wall Street Reform

In July of 2010, Senator Whitehouse released a press statement noting his support for the Wall Street Reform Legislation.

 

Small Business Jobs and Credit Act 

In September of 2010, Senator Whitehouse released a press statement noting his support for the Small Business Jobs and Credit Act.

 

 

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. Sheldon Whitehouse voted in favor of the Wall Street Reform Legislation.

Sheldon Whitehouse 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. Sheldon Whitehouse voted in favor of the Stimulus in the final vote.

Sheldon Whitehouse 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. Sheldon Whitehouse voted in favor of the stimulus in the initial vote.

Sheldon Whitehouse 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. Sheldon Whitehouse voted against the resolution and in support of the second installment of TARP funds.

Sheldon Whitehouse 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. Sheldon Whitehouse voted in favor of the Helping Families Save Their Homes Act of 2009.

Sheldon Whitehouse 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. Sheldon Whitehouse voted in favor of the TARP program.

Sheldon Whitehouse 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. Sheldon Whitehouse voted in favor of the Bush Stimulus.

Sheldon Whitehouse 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-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 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 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-110; Bill Number-S 3252; Credit Card Accountability Responsibility and Disclosure Act of 2008 - Cosponsor

A bill to amend the Consumer Credit Protection Act, to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes.

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