Bob Corker on The Economy

Last Updated : Nov 22, 2011

Nothing but a Political Stimulus

In January of 2008, Senator Corker issued a press statement noting his opposition to the Bush stimulus as nothing but political.

 

Continued Opposition to Bush Stimulus

In February of 2008, Senator Corker issued a press statement noting his continued opposition to the Bush stimulus.

 

Reaction to Dodd-Frank Introduction

In March of 2010, Senator Corker issued a press statement noting his reaction to the introduction of the Dodd-Frank legislation.

 

Push for Amendments

In March of 2010, Senator Corker issued a press statement noting that he had some problems with the initial Dodd-Frank bill and that he was putting forth amendments to address those concerns.

 

Specific Problems with Dodd-Frank

In May of 2010, Senator Corker issued a press statement noting his disappointment in the final form of the Dodd-Frank legislation and some of the specific problems he had with the legislation.

 

Dodd-Frank is Net-Negative

In July of 2010, Senator Corker issued a press statement noting his view that the Dodd-Frank legislation was a net negative for the American people.

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. Bob Corker voted against the Wall Street Reform Legislation.

Bob Corker voted against the Wall Street Reform Legislation.

The Stimulus

After the stimulus passed the House, the conference report was voted on to pass the unified version. Bob Corker voted against the Stimulus in the final vote.

Bob Corker voted against 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. Bob Corker voted against the stimulus in the initial vote.

Bob Corker voted against 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. Bob Corker voted in favor of the resolution and against the second installment of TARP funds.

Bob Corker voted in favor of the resolution and against 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. Bob Corker voted in favor of the Helping Families Save Their Homes Act of 2009.

Bob Corker 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. Bob Corker voted in favor of the TARP program.

Bob Corker 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. Bob Corker voted against the Bush Stimulus.

Bob Corker voted against the Bush Stimulus.

 

Sponsored and Cosponsored Legislation

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 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).

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