Maria Cantwell on The Economy

Last Updated : Oct 22, 2012

2002 Stimulus

 In March of 2002, Senator Cantwell released a press statement noting her support for the recently passed stimulus package.

 

The Bush Stimulus

In January of 2008, Senator Cantwell released a press statement noting her support for clean energy tax incentives in the Bush Stimulus.

 

TARP

In September of 2008, Senator Cantwell released a press statement noting her opinion that something needed to be done to deal with the financial markets.

Days later, Senator Cantwell released a press statement noting her opinion that the root causes of the financial crisis needed to be discovered.

In October of 2008, Senator Cantwell released a press statement noting her opposition to the TARP legislation.

In December of 2008, Senator Cantwell spoke on the Senate floor about her opposition to the TARP bill.

 

 

The Stimulus

In February of 2009, Senator Cantwell released a press statement noting her support for the stimulus and components of the program. 

In April of 2009, Senator Cantwell released a press statement noting her support for weatherization packages in the stimulus and noted that this was a good method of creating jobs.

 

Wall Street Reform

In June of 2009, Senator Cantwell released a press statement noting her support for possible Wall Street Reform.

In April of 2010, Senator Cantwell issued a press statement noting her support for wall street reform, and two speeches she made on the subject. She also spoke on the Senate floor about financial reform.

In May of 2010, Senator Cantwell spoke on the Senate floor about derivatives and wall street reform.

 

Derivatives Reform

In February of 2010, Senator Cantwell released a press statement noting her support for derivatives reform and legislation that she was introducing to accomplish that task.

In April of 2010, Senator Cantwell spoke on the Senate floor about derivatives reform.

In May of 2010, Senator Cantwell spoke at a press conference about derivatives reform.

 

 

Glass Steagal

In May of 2010, Senator Cantwell released a press statement noting her support for Glass-Steagal.

 

The Small Business Jobs Act

 

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. Maria Cantwell voted against the Wall Street Reform Legislation.

Maria Cantwell 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. Maria Cantwell voted in favor of the Stimulus in the final vote.

Maria Cantwell 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. Maria Cantwell voted in favor of the stimulus in the initial vote.

Maria Cantwell 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. Maria Cantwell voted in favor of the resolution and against the second installment of TARP funds.

Maria Cantwell 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. Maria Cantwell voted in favor of the Helping Families Save Their Homes Act of 2009.

Maria Cantwell 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. Maria Cantwell voted against the TARP program.

Maria Cantwell 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 Senate 81-16. Maria Cantwell voted in favor of the Bush Stimulus.

Maria Cantwell voted in favor of the Bush Stimulus.

Bankruptcy Reform

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. Maria Cantwell voted against the Bankruptcy Reform bill.

Maria Cantwell 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.

Sarbanes-Oxley

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. Maria Cantwell voted in favor of Sarbanes-Oxley.

Maria Cantwell voted in favor of Sarbanes-Oxley.

 

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-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 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 4014; Credit CARD Act of 2009 - Prime Sponsor

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

Session-111; Bill Number-S 651; Compensation Fairness Act of 2009 - Cosponsor

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.

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