H.R. 3997 - Emergency Economic Stabilization Act of 2008 – This bill Empowers the new Office of Financial Stability in Treasury to purchase troubled assets from private financial institutions, making $250 billion available immediately, with another $100 billion subject to the President’s request. The final $350 billion would be subject to a Congressional vote. The total $700 billion amounts to a $6,000 outlay per US household.; Nationalizes an array of mortgages and troubled securities. Authorizes private financial institutions to carry out the provisions and creates an oversight board to monitor the program. Requires the Treasury Department to establish a federally-backed insurance program, similar to FDIC, for holders of troubled assets, if it utilizes its purchase authority (which it is expected to do). Treasury would guarantee up to 100% of the timely payment of principal and interest on certain classes of troubled assets. Provides limits on executive compensation of financial firms that participate in the program. Allows the government to get profit-sharing “warrants” from participating firms to allow taxpayers to gain as the firms recover. Requires the President to submit a plan to Congress to recoup a shortfall if the plan is losing money after 5 years. Raises the debt limit for the 3rd time this year to $11.3 trillion. OMB points out that the plan authorizes the purchase of assets so these may produce income once they’re sold. CBO couldn’t quantify the budget impact of the bill but estimated that the impact would be substantially smaller than $700 billion. I voted against this bill because I cannot saddle our children and grandchildren with new debt. - NO

H.R. 7175 - To amend the Small Business Act to improve the section 7(a) lending program - Permits the pooling of 7(a) program loans based on a weighted-average interest, to improve the efficiency of the secondary market for small commercial loans. Simplifies the standard for determining small business loan eligibility to encourage more lender participation in the program. Specifies criteria which a development company must meet to qualify for SBA lending. YES

H.R. 6983 – Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 – This bill would require equity in mental health benefits if an insurance company provides medical and surgical benefits; the bill does not does not codify mental health diseases. It contains an opt-out provision for small business with less than 50 employees. I voted for this bill as it is compromise legislation that will provide insurance for mental health related services. - YES

H.R. 2638 - The Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009 - The legislation includes the FY2009 Department of Defense, Homeland Security, and Military Construction-Veterans Affairs appropriations bill, and enacts a continuing resolution (CR) for the remaining spending bills , funding the basic operations of the federal government through March 6, 2009. The 2008 fiscal year ends next week, and this bill provides the federal government the resources it needs to continue functioning. I am pleased that the House responded quickly to the need for disaster relief in the areas damaged by Ike. The spending bill provides Texas with nearly $22.8 billion in relief funding that will serve as an immediate infusion of emergency assistance to families and businesses affected by the hurricane. The total cost of Ike will not be known for many months, but this relief package will help Texans rebuild their lives in the aftermath of the storm. - YES more...

H.R. 6604 - The Commodity Markets Transparency and Accountability Act of 2008 – I voted against this bill because it fundamentally changes the mission of the Commodities Futures Trading Commission (CFTC). This bill directs the CFTC to ensure that the standards and procedures employed by foreign commodity markets, such as the London InterContinental Exchange, on which oil and gas futures are traded, meet the standards of U.S. commodity markets. - NO

Miller (CA)/Sarbanes Amendment to H.R. 3036 – I voted in favor of this amendment because it clarifies that funds issued under the National Capacity Environmental Education Grant Program may be used to address environmental justice issues that may arise in low income communities. Provides that funds may be used to develop and implement policy approaches to environmental education including specific topics. - YES

H.R. 3036 - No Child Left Inside – This legislation authorizes the Secretary of Education to award competitive, matching grants for activities to improve and support environmental education (appropriates such sums as may be necessary). However, the Environmental Protection Agency has been the primary federal agency responsible for environmental education since 1992. Creating this program within the Education Department would be duplicative. The federal government should not be telling our schools what to do; that is best left to the state and our school districts. Cost: $24 million. - NO

H. R. 1108 --the Family Smoking Prevention and Tobacco Control Act – NO This bill provides explicit authority for the Food and Drug Administration (FDA) to regulate tobacco products and the marketing of tobacco products. It would increase regulations on manufacturers and consumers, allowing the FDA to do everything BUT outright ban tobacco. I voted against this bill because of the increased regulation and the concern that the FDA does not have the current manpower or the wherewithal to regulate tobacco, given the recent food outbreak). Allowing the FDA to regulation tobacco would give a false impression that the FDA has approved the use of cigarettes and has given the item a seal of approval, given that the public perceives the FDA as approving the safety of food, drugs, and medical devices. The bill also includes more than $5 billion in new taxes on the manufacturers, which would then be passed onto the consumer.

H.R. 4040 --Conference Report on Consumer Product Safety Modernization Act – YES This bill limits the amount of lead in children's products. It would requires manufacturers to place identifiable tracking labels on recalled children's products. It increases standards on manufacturers for corrective action plans in the event of a hazardous product threat and increases civil penalties against people who violate these consumer product laws.

H.Res.1202 --Supporting the goals and ideals of a National Guard Youth Challenge Day (5 minutes)– YES This bill is a well-deserved recognition of this Program, which has successfully helped thousands of high school dropouts. Since 1993, more than 77,100 students have successfully graduated from the program, of whom 80 percent earned their high school diploma or GED, 26 percent entered college, 18 percent entered the military, and 56 percent joined the workforce in career jobs. The resolution does not authorize expenditures.

H.R. 6578 --Consumer Energy Supply Act of 2008– NO Congress created the Strategic Petroleum Reserve (SPR) as a result of the Arab oil embargo in 1973. The SPR was not created to help adjust the price of gasoline, it was created to defend against a similar supply disruption in the future. I voted against this bill because it would drawdown from the SPR crude that is easier to refine and replace it with crude that is harder to refine. In the event of an oil supply shock, the heavy grade crude in the SPR, if released, would take longer (and thus be more costly) to refine, delaying the crisis-mitigating effects of the SPR. Cost: No score.

H.R. 6493 --Aviation Safety Enhancement Act – YES I supported this legislation because it requires the Administrator of the Federal Aviation Administration (FAA) to establish a new office to investigate claims of safety violations made by FAA and air carrier employees. The bill also requires the FAA to modify certain internal initiatives with regard to the FAA’s treatment of air carriers.

Monday, July 14, 2008

H.R. 3981 --To authorize the Preserve America Program and Save America's Treasures Program– YES I voted yes on this bill because it establishes the Preserve America Program in order to provide competitive grants to specified entities to support preservation efforts through tourism, education, and historic preservation planning activities. The non-Federal share of the cost of carrying out a project provided under this program must be no less than 50 percent of the total cost of the project. Cost: $300 million over the 2009-2013 period.

H.R. 1423 --Dorothy Buell Memorial Visitor Center Lease Act – YES This bill authorizes the Secretary of the Interior to lease a portion of a visitor center to be constructed outside the boundary of the Indiana Dunes National Lakeshore in Porter County, Indiana. Cost: $1 million.

H.R. 4199 --To amend the Dayton Aviation Heritage Preservation Act of 1992 to add sites to the Dayton Aviation Heritage National Historical Park– YES This bill provides for the acquisition and inclusion of additional sites to the Dayton Aviation Heritage National Historical Park, including the Wright Company factory. Cost: $15 million over the 2009-2013 period.

Final Passage of H.R. 1286 --Washington-Rochambeau Revolutionary Route National Historic Trail Designation Act – YES I voted in favor of this bill because it ensures the preservation of one of our Nation’s important historical trails. The route designated by this Act is one of the most famous in our country, and it marks the route General George Washington followed with this French allies to defeat General Cornwallis at Yorktown. The American victory at Yorktown affectively ended the Revolutionary War. The bill does not in any way limit access for hunting, fishing, trapping or recreational shooting. It also provides that the bill does not in any way infringe on a State’s right to manage, control or regulate it’s hunting, fishing, trapping and recreational shooting activities on these lands. Cost: about $2 million over the 2009-2013 period.

Pearce Amendment to H.R. 1286 --YES -- This amendment would require the Secretary to complete and submit to Congress a report on the energy resources included in the Washington-Rochambeau Revolutionary Route National Historic Trail. In today’s environment of high energy prices, it is important that our government fully explore the energy resources on all public lands.

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H.R. 6275 --The Alternative Minimum Tax Relief Act of 2008 – NO This bill is a one year patch of the AMT with a hold harmless provision for those middle-class Americans who are affected by the AMT. But it contains PERMANENT tax increases for carried interest, meaning it would tax private equity at ordinary income tax rates instead of the currently capital gains rates. The bill also strikes the manufacturing tax credit for the five largest integrated oil and gas companies, and reduces the manufacturing tax credit for all other independent oil and gas companies from 9% to 6%; the bill does not single out any other industry which receives the manufacturing tax credit. I voted against this bill because it contains permanent tax increases. Total cost is approx $64 billion.

FISA Bill YES I supported this legislation because it provides for the continuation of key surveillance efforts targeting foreign terrorist suspects in foreign countries, it streamlines the process to obtain FISA court orders, it includes civil liberty protections for US citizens, and it includes immunity for telecommunications companies who worked in good faith with the federal government to provide records on suspected terrorists. FISA expired earlier this year and this legislation is long past due. This bill will give the intelligence community the tools it needs to locate and track suspected terrorists and it aids our troops in Iraq and Afghanistan by providing them with the most accurate intelligence in their fight against terrorists overseas.

H.R. 5749 --Unemployment Insurance (5 minutes)– NO Would temporarily extend unemployment benefits for up to 13 weeks in all States and for up to 26 weeks in certain “high unemployment States”, on top of the 26 weeks of benefits provided under current law. The “minimum of 20 weeks of work” requirement is NOT included in this bill - which Congress included in the 2002 temporary extended benefits program that was 100% federally funded, as is this bill. So, workers who qualify for 26 weeks of regular unemployment benefits – and could have an attachment to the workforce of as little as two weeks before being laid off – could qualify for up to 52 weeks of regular and extended benefits in some States under this bill. Prior extended benefits programs have never begun when the national unemployment rate was at today’s modest 5.5% (compared to the most recent program, enacted in March 2002, of 5.7%) This bill also violates PAYGO-the fifth time the Majority has violated PAYGO in the past 6 months. Cost: $14 billion over two years and will operate through March 31, 2009

Conference Report on S. Con. Res. 70 --The Concurrent Budget Resolution for 2009 – NO I voted against the conference report because for the first time in history, it allows $1 trillion in discretionary spending, which is $24.5 billion more the President's budget. Additionally, the total budget rise to over $3.01 trillion, the first time the federal budget has reached over $3 trillion. This conference report also includes the largest tax Increase in history, automatically raising taxes by at least $683 billion over the next 5 years, and it contains no entitlement spending reform for Social Security, Medicare or Medicaid. We cannot continue spending money. The federal government currently has $53 trillion in unfunded liabilities, and until Congress gets our fiscal house in order, I will continue voting against spending more money.