Mark Schauer on The Economy

AIG Bonuses

In March of 2009, Congressman Schauer issued a press statement noting his opposition to the bonuses by AIG and his desire to enact legislation to recoup the funds.

 

Campaign Website Statements

Jobs

Mark knows we can't turn our economy around overnight, but he's committed to turning Michigan around one job at a time.

Last year, Mark was proud to support the American Recovery and Reinvestment Act, which has helped create more than 69,000 Michigan jobs and helped save nearly 17,000 education jobs across the state. Additionally, the Recovery Act included one of the largest and fastest tax cuts in history, cutting taxes for 95% of working Michigan families.

While the Recovery Act was an important step in the right direction, Mark knows we still have a long way to go to get our economy back on track. That's why he's committed to working arm in arm with local businesses to help them compete in the global economy and create jobs here in Michigan.

 

 

Small Business

Mark and his wife Christine own a small retail shop in Battle Creek. As a small business owner, Mark understands the pressures of making payroll in this tough economy.

That's why he's fought to make credit more accessible to small businesses by supporting bills that would increase the amount credit unions are able to lend to small businesses, and creating a new direct lending program through the Small Business Administration by taxing excessive bonuses at bailed out Wall Street firms.

Additionally, as one of the only members of Congress with a full-time Economic Development Director on his staff, Mark has worked closely with local businesses to help them compete for federal contracts and bring jobs to Michigan.

 

 

Voting Record

Small Business Jobs Tax Relief Act of 2010

In June of 2010 the House voted to pass the Small Business Jobs Tax Relief Act of 2010. The act passed 247-170. Mark Schauer voted in favor of the Small Business Jobs Tax Relief Act of 2010

Wall Street Reform and Consumer Protection Act of 2009

In June of 2010, the House voted on the Wall Street Reform and Consumer Protection Act of 2009. The act failed to pass in a . Mark Schauer voted in favor of the Wall Street Reform and Consumer Protection Act of 2009.

TARP Bonuses

In March of 2010, the House voted on legislation to impose an additional tax on bonuses received from certain TARP recipients, and for other purposes. The legislation passed the House 276-145. Mark Schauer voted in favor of the legislation to tax bonuses to TARP recepients.

Small Business and Infrastructure Jobs Tax Act of 2010

In March of 2010 the House voted to pass the Small Business and Infrastructure Jobs Tax Act of 2010 246-178. Mark Schauer voted in favor of passing the Small Business and Infrastructure Jobs Tax Act of 2010.

Wall Street Reform

In late 2009, the House 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. Mark Schauer voted in favor of the Wall Street Reform Legislation.

The Stimulus

After the Senate passed the Stimulus package, the House voted on a passage of a conference bill to join the House and Senate versions. Mark Schauer voted in favor of the unified version of the Stimulus bill.

The Stimulus

The Stimulus bill (The American Recovery and Reinvestment Act of 2009) passed through the House on January 28, just days after President Obama\'s inauguration. The bill got no support from Republicans and 11 Democrats voted against it as well. Mark Schauer voted in favor of the Stimulus when it passed the House.

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 House and passed 367-54. Mark Schauer voted in favor of the Helping Families Save Their Homes Act of 2009.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-H R 4426; Wall Street Bonus Tax Act - Cosponsor

Amends the Internal Revenue Code to: (1) impose a tax on current or former employees of recipients of financial assistance under the Trouble Asset Relief Program (TARP) for 50% of any bonus exceeding $50,000 paid to them during 2010; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

User Comments