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HOME: Politicians >> Washington-WA >> Cantwell >> Budget, Spending and Taxes
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Voting Record for Cantwell of Washington-WA
Voting Record on Legislation that Involves Budget, Spending and Taxes
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(2010) HR 3082 Continuing Appropriations
Outcome: Concurrence Vote Passed (79/16)
Summary: -Amends "The Continuing Appropriations Act of 2011" to extend the expiration date from December 3, 2010, to March 4, 2011 (Sec. 1).
-Prohibits pay adjustments for all federal non-military employees from January 1, 2011, until December 31, 2012 (Sec. 1).
-Extends the deadline by which eligible service members, veterans and their beneficiaries may apply for Retroactive Stop Loss Special Pay until March 4, 2011 (Sec. 1).
-Extends, until March 4, 2011, various programs relating to transportation and highways (Secs. 2101-2308). |
Cantwell's Vote
Y |
(2010) HR 4853 Temporary Extension of Tax Relief
Outcome: Concurrence Vote Passed (81/19)
Summary: -Amends provisions of the "Economic Growth and Tax Relief
Reconciliation Act of 2001' to extend expiration from December 31, 2010, to December 31, 2012 (Sec. 101).
-Amends provisions of the "Jobs and Growth Tax Relief Reconciliation Act of 2003" to extend expiration from December 31, 2010, to December 31, 2012 (Sec. 102).
-Extends the American Opportunity Tax Credit from taxable years beginning in 2009 or 2010 to taxable years beginning in 2009 through 2012 (Sec. 103).
-Extends the period of time in which the allowable credit for the Child Tax Credit can be increased by 15 percent of the taxpayer's taxable income in excess of $3,000 from taxable years 2009 or 2010 to taxable years beginning in 2009 through 2012 (Sec. 103).
-Extends the reduced marriage penalty of $5,000, and the increased credit percentage of 45 percent for taxpayers with 3 or more qualifying children, for the Earned Income Tax Credit from taxable years beginning in 2009 or 2010 to taxable years beginning in 2009 through 2012 (Sec. 103).
-Increases the Alternative Minimum Tax exemption amount for taxpayers other than corporations in the cases of joint returns or surviving spouses in taxable years beginning in 2010 from $70,950 to $72,450, and in taxable years beginning in 2011 from $70,950 to $74,450 (Sec. 201).
-Increases the Alternative Minimum Tax exemption amount for taxpayers other than corporations in the cases of individuals who are not married and are not surviving spouses in taxable years beginning in 2010 from $46,700 to $47,450, and in taxable years beginning in 2011 from $47,450 to $48,450 (Sec. 201).
-Repeals the provisions of the "Economic Growth and Tax Relief Reconciliation Act of 2001" that eliminated the estate tax for estates of individuals dying after December 31, 2009 (Sec. 301).
-Specifies that the applicable exclusion amount for a credit against a tax on a decedent's estate is set at $5 million (Sec. 302).
-Specifies that the tax on any estate over $500,000 is capped at $155,800 plus 35 percent of the excess of such amount over $500,000 (Sec 302).
-Increases the depreciation deduction for property acquired after September 8, 2010, and before January 1, 2012, from 50 percent to 100 percent (Sec. 401).
-Specifies that the dollar limitation for deductible small business expenses is set at $125,000 for taxable years beginning in 2012, and at $25,000 for taxable years beginning after 2012 (Sec. 402).
-Extends full Federal funding for unemployment compensation from November 30, 2010, to January 3, 2012 (Sec. 501).
-Specifies that the tax rate for Social Security taxes paid by an employer for taxable years beginning in the payroll tax holiday period is set at 10.4 percent (Sec. 601).
-Specifies that the tax rate for Social Security taxes deducted from an employee's wages during the payroll tax holiday period is set at 4.2 percent (Sec. 601).
-Defines "payroll tax holiday period" as "calendar year 2011" (Sec. 601).
-Extends the expiration date of tax credits for biodiesel and renewable diesel used as fuel from December 31, 2009, to December 31, 2011 (Sec. 701).
-Extends eligibility for the New Energy Efficient Home Credit from homes acquired before December 31, 2009, to homes acquired before December 31, 2011 (Sec. 703).
-Extends the expiration date of tax credits for certain alternative fuels from December 31, 2009, to December 31, 2011 (Sec. 704).
-Extends eligibility for tax credits for nonbusiness energy property from property placed in service before December 31, 2010, to property placed in service before December 31, 2011 (Sec. 710).
-Extends the expiration date of certain tax credits for tuition and related expenses from December 31, 2009, to December 31, 2011 (Sec. 724).
-Specifies that the national limitation for the "New Markets" tax credit is set at $3.5 billion for 2010 and 2011 (Sec. 733). |
Cantwell's Vote
Y |
(2010) S 3985 Emergency Senior Citizens Relief Act
Outcome: Cloture Not Invoked (53/45)
Summary: -Requires the Secretary of the Treasury to disburse additional payments of $250 to individuals who were entitled to any of the following in October, November, or December 2010, whereas existing law restricted payments to individuals who were only entitled to such benefits in 2009 (Sec. 2):-Social Security;
-Railroad Retirement benefits;
-Veterans benefits; or
-Supplemental Security Income (SSI). -Authorizes government retirees, who receive pension benefits for services to the United States or any State, and who are not eligible to receive the $250 payment, to claim a $250 income tax credit in 2011, whereas existing law only allowed retirees to claim this credit in 2009 (Sec. 2).
-Authorizes the disbursement of $250 payments to individuals who reside in locations with an Army Post Office, Fleet Post Office, or Diplomatic Post Office, whereas existing law excluded these individuals (Sec. 2).
-Reduces the maximum allowable amount for the "Making Work Pay" tax credit by $250, for individuals who receive a $250 payment. (Sec. 2).
-Prohibits the Secretary of the Treasury from disbursing payments after December 31, 2011 (Sec. 2). |
Cantwell's Vote
Y |
(2010) S Amdt 4727 Extension of Tax Cuts for Those Making Under $250,000
Outcome: Cloture Not Invoked (53/36)
Summary: -Substitutes the following for individual income tax reductions (Sec. 101):-For the 28 percent tax bracket, a 25 percent tax rate;
-For the 31 percent tax bracket, a 28 percent tax rate;
-For the 36 percent tax bracket, a 33 percent tax rate, unless the income of the individual is not greater than the 'applicable amount' divided by the dollar amount at which the bracket begins;-Defines 'applicable amount' as the excess of $250,000 divided by the sum of the basic standard deduction and the exemption amount.
-Extends full federal funding for unemployment compensation until January 3, 2012 (Sec. 801).
-Amends the Hope Scholarship Credit by (Sec. 207):-Increasing from $1,000 to $2,000 the maximum amount of qualified tuition and expenses paid by the taxpayer during the taxable year;
-Decreasing from 50 percent to 25 percent the expenses paid as exceeds $2,000;
-Increasing from 2 years to 4 years the time allowed for such a tax credit to apply;
-Increasing from the first 2 years to the first 4 years of post-secondary education that the credit is allowed for tuition, fees, and course materials; and
-By renaming the 'Hope Scholarship Credit' 'American Opportunity Credit'.
-Specifies that the applicable exclusion amount for the estate tax is $3.5 million (Sec. 303).
-Specifies that the applicable exclusion amount for a decedent dying in a calendar year after 2010 is to be increased by an amount equal to the dollar amount, multiplied by the cost of living adjustment determined by the Consumer Price Index of calendar year 2009, rounded to the nearest $10,000 (Sec. 303).
-Increases the dollar limitation on depreciable business assets claimed as expenses from $25,000 to $125,000, and also specifies that the dollar limitation will be reduced by the amount by which the cost of the property exceeds $500,000 (Sec. 401).
-Excludes, temporarily, 100 percent of gain from certain small business stocks until January 1, 2012 (Sec. 811).
-Increases the alternative minimum tax exemption amount (Sec. 501):-From $70,950 to $72,450 for taxable years beginning in 2010 in the case of a joint return or a surviving spouse;
-From $72,450 to $74,450 for taxable years beginning in 2011 in the case of a joint return or a surviving spouse;
-From $46,700 to $47,450 for taxable years beginning in 2010 in the case of an individual who is not married and is not a surviving spouse; and
-From $47,450 to $48,450 for taxable years beginning in 2010 in the case of an individual who is not married and is not a surviving spouse.
-Extends tax-free distributions from individual retirement plans for charitable purposes from December 31, 2009, to December 31, 2011 (Sec. 636).
-Extends a credit for an alternative fuel vehicle refueling property from December 21, 2010, to December 31, 2011 (Sec. 821).
-Extends tax-exempt eligibility for home loans guaranteed by Federal home loan banks from December 31, 2010 to December 31, 2011 (Sec. 606).
-Extends the new energy efficient home credit to include any home acquired prior to December 31, 2011, whereas existing law excluded homes acquired after December 31, 2009 (Sec. 616).
-Extends the Making Work Pay credit so that it can be claimed for all taxable years beginning prior to December 31, 2011, whereas existing law restricted the credit to taxable years beginning prior to December 31, 2010 (Sec. 841).
-Extends the Work Opportunity credit so that it can be applied to wages earned prior to December 31, 2011, whereas existing law restricted the application of the credit to wages earned prior to August 31, 2011 (Sec. 842).
-Increases the refundable portion of the child tax credit, from 15 percent of the taxpayer's earned income in excess of $10,000 to 15 percent of the taxpayer's earned income in excess of $3,000, effective December 31, 2010 (Sec. 103).
-Specifies that the bill is designated as an emergency bill for the purposes of pay-as-you-go principles (Sec. 1002). |
Cantwell's Vote
Y |
(2010) S Amdt 4728 Extension of Tax Cuts for Those Making Under $1 Million
Outcome: Cloture Not Invoked (53/37)
Summary: -Substitutes the following for individual income tax reductions (Sec. 101):-For the 28 percent tax bracket, a 25 percent tax rate;
-For the 31 percent tax bracket, a 28 percent tax rate;
-For the 36 percent tax bracket, a 33 percent tax rate; and
-For the 39.6 percent tax bracket, a 35 percent tax rate, provided that the income does not equal an amount in excess of the "applicable amount" divided by the dollar amount at which the bracket begins; -Defines "applicable amount" as the excess of $1 million divided by the sum of the basic standard deduction and the exemption amount (Sec. 101). |
Cantwell's Vote
Y |
(2010) HR 3081 Continuing Appropriations
Outcome: Bill Passed (69/30)
Summary: -Appropriates for a portion of fiscal year 2010-2011 not to extend past December 3, 2010, "such amounts as may be necessary," at the same rate for operations and under the same authority and conditions as provided in the applicable fiscal year 2009-2010 appropriations Acts, to continue projects and activities for which appropriations, funds, or authority were provided in Acts that include, but are not limited to, the following (Sec. 101):-The Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2010 (Public Law 111-80);
-Division A of the Department of Defense Appropriations Act, 2010 (Public Law 111-118, Div. A);
-The Energy and Water Development and Related Agencies Appropriations Act, 2010 (Public Law 111-85);
-The Department of Homeland Security Appropriations Act, 2010 (Public Law 111-83);
-The Department of the Interior, Environment, and Related Agencies Appropriations Act, 2010 (Public Law 111-88);
-The Legislative Branch Appropriations Act, 2010 (Public Law 111-68); and
-The Consolidated Appropriations Act, 2010 (Public Law 111-117). -Specifies that for mortgages for which credit approval is issued for the borrower during fiscal year 2010-2011, if the dollar amount on the principal obligation determined under the National Housing Act (12. U.S.C. 1709(b)(2)) for any size residence for any area is less than the corresponding limitation that was in effect for 2008 pursuant to Sec. 202 of the "Stimulus Act" (Public Law 110-185), the maximum dollar limitation shall be considered to be the amount in effect for 2008 (Sec. 145).
-Specifies that if the limitation on the maximum original principal obligation of a mortgage originated in fiscal year 2010-2011 that may be purchased by the Federal National Mortgage Association ("Fannie Mae") or the Federal Home Loan Mortgage Corporation ("Freddie Mac") for any size residence for any area is less than the corresponding maximum that was in effect for 2008 pursuant to Sec. 201 of the "Stimulus Act" (Public Law 110-185), the limitation on the maximum principal obligation shall be the amount in effect for 2008 (Sec. 146).
-Allows for a rate of operations of up to $20 billion for commitments to guarantee loans incurred under the General and Special Risk Insurance Funds as authorized by Sections 238 and 519 of the National Housing Act (12 U.S.C. 1715z-3 and 1735c) (Sec. 142).
-Provides amounts at a rate for operations of $7.01 billion for Department of Energy weapons activities, notwithstanding Section 101 of this bill (Sec. 122).
-Provides amounts at a rate for operations of $5.16 billion for the Foreign Military Financing Program, notwithstanding Section 101 of this bill, of which no less than $2.78 billion shall be available for grants only for Israel, no less than $1.3 billion shall be available for grants only for Egypt, and no less than $300 million shall be available for assistance for Jordan (Sec. 137).
-Provides amounts at a rate for operations of $2.35 billion to the Department of Defense Base Closure Account 2005, notwithstanding Section 101 of this bill (Sec. 135).
-Provides amounts at a rate for operations of $964.32 million to the Bureau of the Census for expenses related to collecting and publishing census data, notwithstanding Section 101 of this bill (Sec. 117).
-Provides amounts at a rate for operations of $700 million to the Pakistan Counterinsurgency Capability Fund, notwithstanding Section 101 of this bill (Sec. 138).
-Provides amounts at a rate for operations of $365 million to the Minerals Management Service, notwithstanding Section 101 of this bill (Sec. 128). |
Cantwell's Vote
Y |
(2010) S Amdt 4676 Reducing "Continuing Appropriation" Amounts by 5 Percent
Outcome: Amendment Rejected (48/51)
Summary: -Requires the corresponding continuing appropriation amounts under HR 3081 to constitute a 5 percent reduction in the rates of operations provided in the following Acts (Sec. 101):-The Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2010;
-The Energy and Water Development and Related Agencies Appropriations Act, 2010;
-The Department of the Interior, Environment, and Related Agencies Appropriations Act, 2010;
-The Legislative Branch Appropriations Act, 2010; and
-The Consolidated Appropriations Act, 2010, except for division E. |
Cantwell's Vote
N |
(2010) S 3816 Tax Law Amendments
Outcome: Cloture Not Invoked (53/45)
Summary: -Prohibits tax deductions, losses, or credits for any transaction (or series of transactions) that is the result of the individual reducing or eliminating the operation of a trade or business within the U.S. in connection with the start up or expansion of such trade or business by the taxpayer outside of the U.S. (Sec. 201).
-Expands income tax liability on controlled foreign corporations (26 USC 951-965) to include "imported property offshored income," meaning income (profits, commissions, fees, etc.) that is received from a controlled foreign corporation and derived in connection with any of the following (Sec. 202):-Manufacturing, producing, growing, or extracting imported property;
-The sale, exchange, or other disposition of imported property; or
-The lease, rental, or licensing of imported property. -Defines "imported property" as property that is imported into the U.S. by an offshored controlled foreign corporation or a related individual (Sec. 202).
-Exempts foreign oil and gas extraction income, or any foreign oil related income (26 USC 907(c)), from the aforementioned expansion of income tax liability on controlled foreign corporations (Sec. 202).
-Exempts employers from the excise tax for old age, survivors, and disability insurance (26 USC 3111) with respect to an individual who meets the following criteria (Sec. 101):-The individual commenced employment after September 21, 2010 and before September 22, 2013;
-The employer certifies that the individual has been employed to replace another employee who was not a citizen or lawfully present resident of the U.S. and "substantially all" of whose services for the employer were performed outside of the U.S.;
-"Substantially all" of the services the individual will perform for the employer will take place within the U.S.; and
-The individual is not an individual described in 26 U.S.C. 51(i)(1). -Specifies that the exemption from the excise tax shall begin on the hiring date of the applicable individual and shall be in effect for 2 years thereafter (Sec. 101). |
Cantwell's Vote
Y |
(2010) S 3454 2010-2011 Defense Authorizations
Outcome: Cloture Not Invoked (56/43)
Summary: -Repeals, after military review and certification, a provision of existing law (commonly referred to as "Don't Ask, Don't Tell") that requires that an individual be removed from the armed forces if one or more of the following findings is made (Sec. 591):-That the member has engaged in (or attempted to engage in) a homosexual act, unless further findings show that the member has demonstrated that:-Such conduct is a departure from his/her usual behavior;
-Such conduct is unlikely to recur;
-Such conduct was not accomplished by coercive means or intimidation;
-The member's continued presence is in the interests of "proper discipline, good order, and morale;" and
-The member does not have "a propensity or intent" to engage in homosexual acts; -That the member has stated that he or she is homosexual or bisexual, unless a further finding shows that the member has demonstrated that he or she does not engage in, attempt to engage in, intend to engage in, or have a "propensity" to engage in homosexual acts; or
-That the member has married or attempted to marry a person known to be of the same biological sex.
-Prohibits the aforementioned repeal from taking place until 60 days after the military certification is complete, and specifies that the certification shall be considered complete when the last of the following events occurs (Sec. 591):-The Secretary of Defense has received the report detailing the findings of the military review; and
-Written certification is provided to Congress by the President, the Secretary of Defense, and the Chairman of the Joint Chiefs of Staff that all of the following are true:-The President, the Secretary of Defense, and the Chairman of the Joint Chiefs of Staff have considered the recommendations in the report; -The Department of Defense has prepared necessary policies and regulations to exercise the discretion provided by the repeal; and
-The implementation of policies and regulations associated with the repeal is consistent with the standards of military readiness, military effectiveness, unit cohesion, and recruiting and retention of the Armed Forces.
-Requires the Secretary of Defense to deploy no less than 6,000 National Guard personnel to assist in "securing" the border, including performing the following actions (Sec. 1041):-Construction of fencing;
-Increasing ground-based mobile surveillance systems;
-Deployment of additional unmanned aerial systems and manned aircraft to maintain continuous surveillance of the border;
-Provision of capability for radio communications interoperability between U.S. Customs and Border Protection and State, local, and tribal law enforcement agencies;
-Construction of checkpoints along the border; and
-Conduct of mobile patrols and provision of assistance to U.S. Customs and Border Protection.
-Prohibits the Department of Defense from using funds during the one-year period beginning with the enactment of this bill to transfer a detainee from the United States Naval Station in Guantanamo Bay, Cuba to any of the following countries (Sec. 1044):-Afghanistan;
-Pakistan;
-Saudi Arabia;
-Somalia; or
-Yemen.
-Repeals a provision of existing law that prohibits medical treatment facilities or other facilities of the Department of Defense from being used to perform an abortion except in cases in which the mother's life is endangered or the pregnancy is the result of rape or incest (Sec. 713).
-Expands dependent coverage under TRICARE to include individuals under 26 years of age who are not eligible for a qualified employer-sponsored plan (Sec. 702).
-Authorizes the appropriation of $30.96 billion for the Defense Health Program for fiscal year 2010-2011 (Sec. 4401).
-Authorizes the appropriation of $3.42 billion for Mine Resistant Ambush Protected (MRAP) Vehicles for fiscal year 2010-2011 (Sec. 4102).
-Authorizes the appropriation of $3.47 billion for the Joint Improvised Explosive Device Defeat Fund for fiscal year 2010-2011 (Sec. 4102).
-Authorizes the appropriation of $71.2 million for the operation of the Armed Forces Retirement Home (Sec. 431).
-Extends the authority of the Commander's Emergency Response Program to last throughout fiscal year 2010-2011, and authorizes up to $900 million to be used for the program (Sec. 1211).
-Prohibits the obligation of more than $500 million for the Iraq Security Forces Fund until the Secretary of Defense certifies that the government of Iraq has demonstrated a commitment to the following (Sec. 1533):-To "adequately" build the logistics and maintenance capacity of the Iraqi security forces;
-To develop the institutional capacity to manage such forces independently; and
-To develop a "culture of sustainment" for equipment provided or acquired with United States assistance.
-Allows the Secretary of Defense to carry out a program for research, development, and deployment of advanced technology ground vehicles, ground vehicle systems, and components within the Department of Defense (Sec. 214).
-Requires any contracts for additional commercial imaging satellite capability or capacity entered into by the Department of Defense beginning in 2011 to require that the imaging telescope has an aperture of no less than 1.5 meters (Sec. 142).
-Requires the President to establish the Commission on Military Environmental Exposures, to be made up of 9 members with backgrounds in environmental exposure analysis or environmental exposure assessments, health monitoring, environmental health, epidemiology, industrial hygiene, facility or installation management, biostatistics, public health, or "other relevant fields" to provide advice to the President and Congress on matters relating to exposures of Armed Forces members to environmental hazards on military installations, and specifies that the Commission shall issue a report including the following (Sec. 314):-Recommendations for how the Federal Government should respond to the issue of exposures of current and former members of the Armed Forces and their dependents to environmental hazards on military installations;
-An analysis of the viability of the Federal Tort Claims Act as a remedy for dependents of current and former members of the Armed Forces potentially exposed to such environmental hazards;
-Recommendations for how to address health concerns of current and former members of the Armed Forces and their dependents in connection with possible exposure to such environmental hazards;
-An inventory of all military installations that are included on the National Priorities List developed by the President (42 U.S.C. 9605(a)(8)(B)), and an estimate of the extent of exposures to environmental hazards at such installations; and
-Recommendations for redress, including possible monetary compensation. |
Cantwell's Vote
Y |
(2010) HR 5297 Small Business Lending Fund and Tax Law Amendments
Outcome: Bill Passed (61/38)
Summary: -Establishes the Small Business Lending Fund (SBLF) within the Department of Treasury in which the Secretary of the Treasury is authorized to appropriate up to $30 billion for capital investments to the following (Sec. 4103):-Financial institutions with assets of $1 billion or less, provided that such investment does not exceed 5 percent of risk-weighted assets; and
-Financial institutions with assets of more than $1 billion but no more than $10 billion, provided that such investment does not exceed 3 percent of risk-weighted assets. -Requires the Department of Treasury to purchase preferred stock and other financial instruments from financial institutions to finance capital investments from the the SBLF, and specifies that such preferred stock and other financial instruments shall be repaid within 10 years, or be subject to additional terms as determined by the Secretary, including, but not limited to, that the stock carry the highest dividend or interest rate payable (Sec. 4103).
-Requires the funds received in connection with the investments made from the SBLF shall be paid into the General Fund of the Department of Treasury for reduction of the public debt (Sec. 4103).
-Requires a financial institution to submit with an application for a capital investment from the SBLF a "small business lending plan" that describes the strategy and operating goals to "address the needs of small businesses in the areas it serves, as well as a plan to provide linguistically and culturally appropriate outreach, where appropriate" (Sec. 4103).
-Authorizes financial institutions that are community development loan funds to apply to receive capital investments from the SBLF, provided such investment does not exceed 5 percent of total assets (Sec. 4103).
-Prohibits financial institutions from receiving capital investments from the SBLF if they are on the Federal Deposit Insurance Corporation's (FDIC) "problem bank list" (current rating of 4 or 5 under the Uniform Financial Institutions Rating System, or other designation as determined by the FDIC), or have been removed from such list in the last 90 days (Sec. 4103).
-Requires the Secretary of the Treasury to consider the following when considering applications for capital investments from the SBLF (Sec. 4105):-Increasing the availability of credit for small businesses;
-Providing funding to minority-owned eligible institutions and other institutions that serve small businesses that are owned by minorities, veterans, and women, and that serve low to moderate-income, minority, and other "underserved" or rural communities;
-Protecting and increasing American jobs;
-Increasing the opportunity for small business development in areas with unemployment rates that exceed the national average;
-Ensuring that financial institutions may apply for capital investments without discrimination based on geography;
-Providing transparency with respect to the use of funds;
-Minimizing the costs to taxpayers;
-Promoting and engaging in financial education to would-be borrowers; and
-Providing funding to financial institutions that serve small businesses directly affected by the Deepwater Horizon oil spill, particularly states along the Gulf of Mexico. -Establishes the Small Business Credit Initiative (SBCI) within the Department of Treasury through which the Secretary of the Treasury is required to allocate $1.5 billion to states for capital access programs for small businesses, and specifies that the amount of SBCI funds allocated to states is contingent on the state's employment declines in 2008 and 2009 (Secs. 3003 & 3009).
-Requires state capital access programs to meet the following criteria to receive funding from the SBCI (Sec. 3005):-Provides portfolio insurance for business loans based on a separate loan-loss reserve fund for each financial institution;
-Requires insurance premiums to be paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in the reserve fund;
-Provides for contributions to be made by the state to the reserve fund in amounts at least equal to the sum of the amount of the insurance premium charges paid by the borrower and the financial institution to the reserve fund for any newly enrolled loan; and
-Provides its portfolio insurance solely for loans that do not exceed $5 million for borrowers that have 500 employees or less at the time the loan is enrolled in the program. -Requires states to submit with an application for SBCI funding for a capital access program, a report stating how the state plans to use the funds to provide access to capital for small businesses in low to moderate-income, minority, and other "underserved communities," including women and minority owned small businesses (Sec. 3005).
-Limits insurance premium charges for loans approved by state capital access programs and funded by the SBCI to a range of 2 percent to 7 percent of the amount of the loan (Sec. 3005).
-Expands the income tax exemption for small business stock from 50 percent of any sale or gain such stock to 100 percent for stock acquired after the date of enactment through January 1, 2011 (Sec. 2011).
-Authorizes self-employed individuals to deduct their health insurance costs from their tax liability for the 2010 taxable year (Sec. 2042).
-Authorizes the Administrator of the SBA to provide open-end extension of credit under the Floor Plan Financing Program to small businesses for the purchase of automobiles, recreational vehicles, boats, and manufactured homes for another 5 years, provided an extension of credit is between $500,000 and $5 million (Sec. 1133).
-Expands the participation of the SBA in small business loans (15 USC 636) as follows (Sec. 1111):-For loans in which the balance of the financing outstanding at the time of disbursement exceeds $150,000, the rate is increased from 75 percent to 90 percent of the balance; and
-For loans in which the balance of the financing outstanding at the time of disbursement is less than $150,000, the rate is increased from 85 percent to 90 percent of the balance. -Increases the maximum amount of loans the SBA is authorized to issue for plant acquisition, construction, conversion, or expansion (15 USC 696) as follows (Sec. 1112):-For small businesses, the limit is increased from $1.5 million or $2 million, depending on the purpose of the loan, to $5 million;
-For small manufacturers, the limit is increased from $4 million to $5.5 million;
-For projects that reduce a borrower's energy consumption by at least 10 percent, the limit is increased from $4 million to $5.5 million; and
-For projects that generate renewable energy or renewable fuels, the limit is increased from $4 million to $5.5 million. -Increases the maximum amount of business property ("Section 179 property" - 26 USC 179) that may be deducted from income tax liability from $125,000 (set to go back to $25,000 in 2011) to the following (Sec. 2021):-$250,000 for 2008-2009;
-$500,000 for 2010-2011; and
-$25,000 for 2012 and subsequent taxable years. -Increases the threshold to reduce the aforementioned income tax deduction for business property from the amount by which the property exceeds $500,000 (set to go down to $200,000 in 2011) to the amount which the property exceeds the following (Sec. 2021):-$800,000 for 2008-2009;
-$2 million for 2010-2011; and
-$200,000 for 2012 and subsequent taxable years. -Increases the maximum amount of business startup expenditures that may be deducted from income tax liability from $5,000 to $10,000, and increases the threshold to reduce the deduction from the amount by which the expenditures exceed $50,000 to the amount by which expenditures exceed $60,000 (Sec. 2031). |
Cantwell's Vote
Y |
(2010) S Amdt 4519 Small Business Lending Fund and Tax Law Amendments
Outcome: Cloture Not Invoked (58/42)
Summary: -Establishes the Small Business Lending Fund (SBLF) within the Department of Treasury in which the Secretary of the Treasury is authorized to appropriate up to $30 billion for capital investments to the following (Sec. 4103):-Financial institutions with assets of $1 billion or less, provided that such investment does not exceed 5 percent of risk-weighted assets; and
-Financial institutions with assets of more than $1 billion but no more than $10 billion, provided that such investment does not exceed 3 percent of risk-weighted assets. -Requires the Department of Treasury to purchase preferred stock and other financial instruments from financial institutions to finance capital investments from the the SBLF, and specifies that such preferred stock and other financial instruments shall be repaid within 10 years, or be subject to additional terms as determined by the Secretary, including, but not limited to, that the stock carry the highest dividend or interest rate payable (Sec. 4103).
-Requires the funds received in connection with the investments made from the SBLF shall be paid into the General Fund of the Department of Treasury for reduction of the public debt (Sec. 4103).
-Requires a financial institution to submit with an application for a capital investment from the SBLF a "small business lending plan" that describes the strategy and operating goals to "address the needs of small businesses in the areas it serves, as well as a plan to provide linguistically and culturally appropriate outreach, where appropriate" (Sec. 4103).
-Authorizes financial institutions that are community development loan funds to apply to receive capital investments from the SBLF, provided such investment does not exceed 5 percent of total assets (Sec. 4103).
-Prohibits financial institutions from receiving capital investments from the SBLF if they are on the Federal Deposit Insurance Corporation's (FDIC) "problem bank list" (current rating of 4 or 5 under the Uniform Financial Institutions Rating System, or other designation as determined by the FDIC), or have been removed from such list in the last 90 days (Sec. 4103).
-Requires the Secretary of the Treasury to consider the following when considering applications for capital investments from the SBLF (Sec. 4105):-Increasing the availability of credit for small businesses;
-Providing funding to minority-owned eligible institutions and other institutions that serve small businesses that are owned by minorities, veterans, and women, and that serve low to moderate-income, minority, and other "underserved" or rural communities;
-Protecting and increasing American jobs;
-Increasing the opportunity for small business development in areas with unemployment rates that exceed the national average;
-Ensuring that financial institutions may apply for capital investments without discrimination based on geography;
-Providing transparency with respect to the use of funds;
-Minimizing the costs to taxpayers;
-Promoting and engaging in financial education to would-be borrowers; and
-Providing funding to financial institutions that serve small businesses directly affected by the Deepwater Horizon oil spill, particularly states along the Gulf of Mexico. -Establishes the Small Business Credit Initiative (SBCI) within the Department of Treasury through which the Secretary of the Treasury is required to allocate $1.5 billion, excluding amounts used for administrative costs, to States for capital access programs for small businesses, and specifies that the amount of SBCI funds allocated to states is contingent on the state's employment declines in 2008 and 2009 (Secs. 3003 & 3009).
-Requires state capital access programs to meet the following criteria to receive funding from the SBCI (Sec. 3005):-Provides portfolio insurance for business loans based on a separate loan-loss reserve fund for each financial institution;
-Requires insurance premiums to be paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in the reserve fund;
-Provides for contributions to be made by the state to the reserve fund in amounts at least equal to the sum of the amount of the insurance premium charges paid by the borrower and the financial institution to the reserve fund for any newly enrolled loan; and
-Provides its portfolio insurance solely for loans that do not exceed $5 million for borrowers that have 500 employees or less at the time the loan is enrolled in the program. -Requires states to submit with an application for SBCI funding for a capital access program, a report stating how the state plans to use the funds to provide access to capital for small businesses in low to moderate-income, minority, and other "underserved communities," including women and minority owned small businesses (Sec. 3005).
-Limits insurance premium charges for loans approved by state capital access programs and funded by the SBCI to a range of 2 percent to 7 percent of the amount of the loan (Sec. 3005).
-Expands the income tax exemption for small business stock from 50 percent of any sale or gain such stock to 100 percent for stock acquired after the date of enactment through January 1, 2011 (Sec. 2011).
-Authorizes self-employed individuals to deduct their health insurance costs from their tax liability for the 2010 taxable year (Sec. 2042).
-Authorizes the Administrator of the SBA to provide open-end extension of credit under the Floor Plan Financing Program to small businesses for the purchase of automobiles, recreational vehicles, boats, and manufactured homes for another 5 years, provided an extension of credit is between $500,000 and $5 million (Sec. 1133).
-Expands the participation of the SBA in small business loans (15 USC 636) as follows (Sec. 1111):-For loans in which the balance of the financing outstanding at the time of disbursement exceeds $150,000, the rate is increased from 75 percent to 90 percent of the balance; and
-For loans in which the balance of the financing outstanding at the time of disbursement is less than $150,000, the rate is increased from 85 percent to 90 percent of the balance. -Increases the maximum amount of loans the SBA is authorized to issue for plant acquisition, construction, conversion, or expansion (15 USC 696) as follows (Sec. 1112): -For small businesses, the limit is increased from $1.5 million or $2 million, depending on the purpose of the loan, to $5 million;
-For small manufacturers, the limit is increased from $4 million to $5.5 million;
-For projects that reduce a borrower's energy consumption by at least 10 percent, the limit is increased from $4 million to $5.5 million; and
-For projects that generate renewable energy or renewable fuels, the limit is increased from $4 million to $5.5 million. |
Cantwell's Vote
Y |
(2010) HR 4213 Unemployment Benefits Extension
Outcome: Concurrence Vote Passed (59/39)
Summary: -Requires states to determine whether an individual is eligible for emergency unemployment compensation or regular compensation if the individual meets the following criteria (Sec. 3):-Has been eligible for emergency unemployment compensation;
-The benefit year for which the individual was eligible for emergency unemployment compensation has expired;
-Has remaining entitlement to emergency unemployment compensation with respect to that benefit year; and
-Would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least either $100 or 25 percent less than the weekly benefit in the aforementioned previous benefit year. -Prohibits states from reducing the average weekly benefit amount of regular compensation payable during the period of the agreement occurring on or after June 2, 1010 to an amount that is less than the average weekly benefit amount of regular compensation which would otherwise have been payable during such period, as in effect on June 2, 2010, in order to ensure eligibility for emergency unemployment compensation (Sec. 4).
-Establishes emergency designations for sections 2 and 3 of this Act, related to extending unemployment benefits, for the purposes of complying with the Statutory Pay-As-You-Go Act of 2010 (Sec. 5). |
Cantwell's Vote
Y |
(2010) HR 4213 Unemployment Benefits Extension
Outcome: Cloture Invoked (60/40)
Summary: -Requires states to determine whether an individual is eligible for emergency unemployment compensation or regular compensation if the individual meets the following criteria (Sec. 3):-Has been eligible for emergency unemployment compensation;
-The benefit year for which the individual was eligible for emergency unemployment compensation has expired;
-Has remaining entitlement to emergency unemployment compensation with respect to that benefit year; and
-Would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least either $100 or 25 percent less than the weekly benefit in the aforementioned previous benefit year. -Prohibits states from reducing the average weekly benefit amount of regular compensation payable during the period of the agreement occurring on or after June 2, 1010 to an amount that is less than the average weekly benefit amount of regular compensation which would otherwise have been payable during such period, as in effect on June 2, 2010, in order to ensure eligibility for emergency unemployment compensation (Sec. 4).
-Establishes emergency designations for sections 2 and 3 of this Act, related to extending unemployment benefits, for the purposes of complying with the Statutory Pay-As-You-Go Act of 2010 (Sec. 5). |
Cantwell's Vote
Y |
(2010) S Amdt 4326 Requiring Reports on Foreign Holdings of U.S. Debt
Outcome: Amendment Adopted (58/41)
Summary: -Requires the Secretary of the Treasury to submit annual reports on the risks posed by foreign holdings of U.S. debt to the appropriate congressional committees that include the following (Sec. X04):-The most recent data available on foreign holdings of debt of the U.S., which shall not be older than the date that is 9 months before the date of the report;
-The total amount of debt instruments of the U.S. that are held by the foreign creditors, broken out by the creditors' country of domicile and by public, quasi-public, and private creditors; and
-An analysis of the current and foreseeable risks to long-term national security and economic stability of the U.S. as a result of foreign holdings of debt of the U.S. -Requires the Comptroller General to submit annual reports on the risks posed by the federal debt of the U.S. to the appropriate congressional committees that include the following (Sec. X05):-An analysis of the current and foreseeable risks posed to the long-term national security and economic stability of the U.S. as a result of federal debt; and
-Recommendations for reducing the levels of risk resulting from the federal debt. -Requires the President, upon determining that foreign holdings of U.S. debt pose an "unacceptable risk" to the U.S., to do all of the following within 30 days of the determination (Sec. X06):-Formulate a plan of action to reduce the risk level to an "acceptable and sustainable level" by reducing federal spending;
-Submit to the appropriate congressional committees a report on the plan of action that includes a time-line for the implementation of the plan and recommendations for any legislative action that would be required to fully implement the plan; and
-Move "expeditiously" to implement the plan. -Defines "appropriate congressional committees" as all of the following (Sec. X02):-Senate Committee on Armed Services;
-Senate Committee on Foreign Relations;
-Senate Committee on Finance;
-Senate Committee on Banking, Housing, and Urban Affairs;
-Senate Committee on the Budget;
-House Committee on Armed Services;
-House Committee on Foreign Relations;
-House Committee on Ways and Means;
-House Committee on Financial Services; and
-House Committee on the Budget. |
Cantwell's Vote
Y |
(2010) S Amdt 4302 Requiring Reports on Foreign Holdings of U.S. Debt
Outcome: Amendment Not Tabled (38/61)
Summary: -Requires the President to submit quarterly reports on the risks posed by foreign holdings of U.S. debt to the appropriate congressional committees that include the following (Sec. X04):-The most recent data available on foreign holdings of debt of the U.S., which shall not be older than the date that is 7 months before the date of the report;
-The country of domicile of all foreign creditors who hold debt instruments of the U.S.;
-The total amount of debt instruments of the U.S. that are held by the foreign creditors, broken out by the creditors' country of domicile and by public, quasi-public, and private creditors;
-An analysis of each country's purpose in holding debt of the U.S. and an analysis of the current and future risks to the U.S. posed by each country's holdings of debt of the U.S.; and
-A specific determination of whether the level of risk identified in the report is "acceptable" or "unacceptable." -Requires the Comptroller General to submit annual reports on the risks posed by the federal debt of the U.S. to the appropriate congressional committees that include the following (Sec. X05):-An analysis of the current and foreseeable risks posed to the long-term national security and economic stability of the U.S. as a result of federal debt and a determination as to whether the levels of risk identified are "sustainable;" and
-If risk levels are deemed "unsustainable," recommendations for reducing the levels of risk to "sustainable" levels in a manner that results in a reduction in federal spending. -Requires the President, upon determining that foreign holdings of U.S. debt pose an "unacceptable risk" to the U.S. or if the Comptroller General determines that the U.S. federal debt poses an "unsustainable risk," to do all of the following within 30 days of the determination (Sec. X06):-Formulate a plan of action to reduce the risk level to an "acceptable and sustainable level" by reducing federal spending;
-Submit to the appropriate congressional committees a report on the plan of action that includes a time-line for the implementation of the plan and recommendations for any legislative action that would be required to fully implement the plan; and
-Move "expeditiously" to implement the plan. -Defines "appropriate congressional committees" as all of the following (Sec. X02):-Senate Committee on Armed Services;
-Senate Committee on Foreign Relations;
-Senate Committee on Ways and Means;
-Senate Committee on the Budget;
-House Committee on Armed Services;
-House Committee on Foreign Relations;
-House Committee on Ways and Means; and
-House Committee on the Budget. -Establishes the "sense of Congress," with regards to the People's Republic of China's holding of U.S. debt, that (Sec. X03):-Under "certain circumstances," China's holdings of U.S. debt could give China a tool "to manipulate the domestic and foreign policymaking of the U.S.," including the U.S. relationship with Taiwan;
-Under "certain circumstances," China could attempt to "destabilize" the U.S. economy by rapidly divesting large portions of U.S. debt; and
-China's "expansive" holdings of U.S. debt could potentially pose a direct threat to the U.S. economy and national security, and this potential threat "is a significant issue that warrants further analysis and evaluation." |
Cantwell's Vote
N |
(2010) HR 4899 Fiscal Year 2009-2010 Supplemental Appropriations
Outcome: Bill Passed (67/28)
Summary: -Appropriates $33.29 billion (including appropriation increases and rescissions) for the Department of Defense for military purposes, including, but not limited to, the following (Ch. 3):-$24.59 billion for operation and maintenance;
-$4.95 billion for procurement; and
-$1.79 billion for military personnel. -Appropriates $13.38 billion for the Department of Veterans Affairs for compensation and pensions, and specifies that the funds may not be obligated or expended until the expiration of the period for Congressional disapproval of the regulations prescribed by the Secretary of Veterans Affairs to establish a service connection between exposure of veterans to Agent Orange during service in the Republic of Vietnam during "the Vietnam era" and hairy cell leukemia, other chronic B cell leukemias, Parkinson's disease, and ischemic heart disease (Ch. 9, Sec. 902).
-Appropriates $6.18 billion for the Department of State, including, but not limited to, the following (Ch. 10):-$3.17 billion for bilateral economic assistance;
-$1.41 billion for administration of foreign affairs;
-$1.13 billion for international security assistance; and
-$96.5 million for international organizations. -Appropriates $5.1 billion for the Department of Homeland Security for the Federal Emergency Management Agency for disaster relief (Ch. 6). |
Cantwell's Vote
Y |
(2010) S Amdt 4051 Prohibiting Funding of State and Local Governments to Prevent Defaulting on Debt
Outcome: Amendment Rejected (47/50)
Summary: -Prohibits the Secretary of the Treasury from directly or indirectly using general fund revenues or funds borrowed pursuant to Title 31 of U.S. Code to purchase or guarantee any asset or obligation of (or to provide any other assistance to) any state, municipal, local, or county government that has defaulted on its obligations or is at risk of doing so without such assistance from the federal government (Sec. 5).
-Prohibits the Board of Governors of the Federal Reserve System from directly or indirectly lending against, purchasing, or guaranteeing any asset or obligation of, or providing any other assistance to any state, municipal, local, or county government that has defaulted on its obligations or is at risk of doing so without such assistance from the federal government (Sec. 5). |
Cantwell's Vote
N |
(2010) HR 4851 Unemployment Benefits Extension
Outcome: Bill Passed (59/38)
Summary: -Extends unemployment insurance provisions in the following Acts by approximately 2 months (Sec. 2):-The "Supplemental Appropriations Act, 2008;"
-The "Assistance for Unemployed Workers and Struggling Families Act;" and
-The "Unemployment Compensation Extension Act of 2008." -Extends the expiration date of the eligibility period for COBRA benefits from March 31, 2010 to May 31, 2010 (Sec. 3).
-Increases the Medicare physician payment update by extending the date through which the update to the single conversion factor shall be 0 percent from March 31, 2010 to May 31, 2010 (Sec. 4).
-Prohibits the Secretary of Health and Human Services from publishing updated poverty guidelines for 2010 before May 31, 2010, and specifies that the 2009 guidelines shall be in effect until updated guidelines are published (Sec. 6).
-Appropriates $80 million to the Business Loans Program Account of the Small Business Administration for fee reductions and eliminations and loan guarantees (Sec. 10).
-Designates this Act (with the exception of Section 4) an emergency with regard to the Statutory Pay-As-You-Go Act of 2010 (Sec. 12). |
Cantwell's Vote
Y |
(2010) HR 2847 Employment, Infrastructure, and Transportation Appropriations and Tax Credits ("Senate Jobs Bill")
Outcome: Concurrence Vote Passed (68/29)
Summary: -Specifies that most employers will not be required to pay an excise tax for the second, third, and fourth calendar quarters of 2010 on wages for employees who began employment between February 3, 2010 and December 31, 2010, with the following conditions (Sec. 101):-The employer must provide a signed affidavit that employees have not worked more than 40 hours a week in the 60 days prior to employment;
-The employee was not hired to replace a worker that was fired; and
-The employee is not a corporation, nor owns either directly or indirectly more than 50 percent of the company's capital. -Specifies that, on payroll taxes paid during the first quarter, amounts that could have otherwise been credited shall be treated as payments against first quarter payroll taxes (Sec. 101).
-Specifies that Railroad Retirement taxes shall apply to any employee who began employment between February 3, 2010 and December 31, 2010 at a rate of 1.45 percent of wages paid by the employer (Sec. 101).
-Increases the current year business tax credit for employers that have retained workers for at least 52 consecutive weeks by the lesser of the following (Sec. 102):-$1,000; or
-6.2 times the amount of wages paid by the employer to workers. -Specifies that issuers of qualified zone academy bonds and qualified school construction zone bonds may elect to apply for a tax credit, and a credit shall be the lesser of (Sec. 301):-The amount of interest payable under the bond; or
-The amount of interest that would have been payable under the bond if such interest is subject to an applicable credit rate under Section 54A of the Internal Revenue Code. -Specifies that issuers of clean energy bonds and qualified energy conservation bonds may elect to apply for a tax credit, and that the credit shall be 70 percent of the amount of interest payable under the bond (Sec. 301).
-Requires 10 percent of funds made available for projects funded under Titles I, III and V of the Safe, Accountable, Flexible, Efficient Transportation Equity Act (SAFETEA-LU) and any conforming provisions in this act shall go to businesses owned and controlled by "socially and economically disadvantaged individuals" (Sec. 451).
-Requires states to compile a list of businesses owned and controlled by "socially and economically disadvantaged individuals" (Sec. 451).
-Specifies that a "socially and economically disadvantaged" individual includes, but is not limited to, Native Americans, Native Hawaiians, and women (Sec. 451).
-Specifies corporate estimated tax for corporations with $1 billion or more in assets shall be calculated as follows (Sec. 561):-Any required installment that is otherwise due in July, August, or September of 2009 shall be 123.25 percent of such amount;
-Any required installment that is otherwise due in July, August, or September of 2015 shall be 121.5 percent of such amount;
-Any required installment that is otherwise due in July, August, or September of 2019 shall be 106.5 percent of such amount; and
-Any future installments shall be reduced appropriately. -Specifies that PAYGO compliance for this act is required (Sec. 562). |
Cantwell's Vote
Y |
(2010) HR 4213 Extending Unemployment Benefits and Certain Tax Credits
Outcome: Bill Passed (62/36)
Summary: -Postpones the expiration of unemployment compensation benefits (as originally authorized in Public Laws 110-252 and 111-5) from April 5, 2010 to December 31, 2010 (Sec. 201).
-Postpones the expiration of the eligibility period for premium assistance for COBRA benefits (as originally authorized by Public Laws 111-5 and 111-144) from March 31, 2010 to December 31, 2010 (Sec. 211).
-Extends the suspension of the Sustainable Growth Rate formula for Medicare physician payments so that the update to the single conversion factor shall be 0 percent for the period ending on September 30, 2010, rather than the existing expiration date of March 31, 2010 (Sec. 601).
-Extends the expiration date from December 31, 2009 to December 31, 2010 for an alternative motor vehicle tax credit for new qualified hybrid motor vehicles purchased in 2010 (Sec. 101).
-Extends the expiration date from December 31, 2009 to December 31, 2010 for tax credits for biodiesel and renewable diesel sold or used in 2010 (Sec. 102).
-Extends the expiration date from December 31, 2009 to December 31, 2010 for new energy efficient home credits for homes purchased in 2010 (Sec. 107).
-Extends the expiration date from January 1, 2010 to January 1, 2011 for deductions of certain state and local sales taxes (Sec. 113).
-Authorizes for each state's housing credit agency, a credit equal to each state's 2010 low-income housing refundable credit election amount (Sec. 121).
-Extends from December 31, 2009 to December 31, 2010, the employer wage credit for employees who are active duty members of the uniformed services (Sec. 136).
-Appropriates an additional $7.5 million for fiscal year 2009 and $6 million for fiscal year 2010 to the Centers for Medicare and Medicaid Services Program Management account (Sec. 229).
-Appropriates an additional $17.5 million for fiscal year 2009 and $14 million for fiscal year 2010 to the Administration on Aging for various programs (Sec. 229).
-Appropriates $560 million to the Small Business Administration Business Loans Program Account for the cost certain fee reductions, small business loans, and loan guarantees, to remain available through December 31, 2010 (Sec. 246).
-Decreases appropriations to the Medicare Improvement Fund for fiscal year 2013-2014 from $20.74 billion to $12.74 billion (Sec. 431).
-Requires the establishment, no later than 90 days after the enactment of this bill, a page on the official senate website entitled "Information on the Budgetary Effects of Legislation Considered by the Senate' which should include (Sec. 616):-Links to appropriate pages on the Congressional Budget Office website that contain cost estimates of legislation passed by the Senate; and
-Links to any other pages with information produced by the Congressional Budget Office that further explain budgetary effects. -Requires the following information be posted "prominently" on the front page of the Senate's official website (Sec. 617):-The total amount of direct and discretionary spending passed by the Senate that has not been paid for;
-The total amount of net spending authorized in legislation passed by the Senate;
-The number of new government programs created by legislation passed by the Senate; and
-The totals of the previous three requirements as passed by both Houses of Congress and signed into law. |
Cantwell's Vote
Y |
(2010) S Amdt 3353 Payment to Social Security Recipients
Outcome: Motion Rejected (47/50)
Summary: -Specifies that no payments for calendar year 2009, as authorized in American Recovery and Reinvestment Act of 2009 (HR 1, the "Stimulus" Act), shall be dispersed after December 31, 2010, and no payment authorized in this amendment for calendar year 2010 shall be dispersed after December 31, 2011, regardless of entitlement or eligibility.
-Appropriates an additional $11.43 million to carry out the administrative costs of this amendment as follows:-$5.2 million to the Secretary of the Treasury;
-$5 million to the Commissioner of Social Security;
-$600,000 to the Railroad Retirement Board; and
-$625,000 to the Secretary of Veteran Affairs. |
Cantwell's Vote
Y |
(2010) HR 2847 Employment, Infrastructure, and Transportation Appropriations and Tax Credits ("Senate Jobs Bill")
Outcome: Concurrence Vote Passed (70/28)
Summary: -Specifies that most employers will not be required to pay an excise tax on wages for employees who began employment between February 3, 2010 and December 31, 2010, with the following conditions (Sec. 101): -The employer must provide a signed affidavit that employees have not worked more than 40 hours a week in the 60 days prior to employment;
-The employee was not hired to replace a worker that was fired; and
-The employee is not a corporation, nor owns either directly or indirectly more than 50 percent of the company's capital. -Increases the current year business tax credit for employers that have retained workers for at least 52 consecutive weeks in the amount of $1,000 times the amount of workers retained in the taxable year, only if during the last 26 weeks of the taxable year retained employees were paid at least 80 percent of what they were paid in the first 26 weeks of the taxable year (Sec. 102).
-Increases the expensing allowance for depreciable business assets for taxable years beginning after 2007 and before 2011 from $125,000 to $250,000 (Sec. 201).
-Specifies that issuers of clean energy bonds, qualified energy conservation bonds, qualified zone academy bonds, and qualified school construction zone bonds may elect to apply for a tax credit, and may be credited as follows (Sec. 301):-If a small bond issuer, 65 percent of the amount of payable interest; and
-If any other bond issuer, 45 percent of the amount of payable interest. -Establishes obligation ceilings for amounts made available from the Highway Trust Fund as follows (Sec. 437):-$10.51 billion for fiscal year 2010; and
-$2.63 billion for the period between October 1, 2010 and December 31, 2010. -Requires any individual with more than $50,000 to report any funds held in a depository or custodial account that is maintained by a foreign financial institution (Sec. 511).
-Requires United States shareholders of a passive foreign investment companies to file annual informational returns (Sec. 521).
-Specifies that a foreign trust has a United States beneficiary if the following applies (Sec. 531):-The beneficiary's interest in the trust is contingent on a future event; or
-The beneficiary directly or indirectly transfers property to a foreign trust or uses trust property without paying compensation. -Appropriates $528.03 million to the Federal-aid highway program for fiscal year 2010 (Sec. 412).
-Appropriates $1.71 billion for the extension of National Highway Traffic Safety Administration Programs (Sec. 421).
-Appropriates $795.28 million for the extension of Federal Motor Carrier Safety Administration Programs (Sec. 422).
-Appropriates $43.22 billion for Public Transportation Programs (Title IV, Subtitle C). |
Cantwell's Vote
Y |
(2010) HR 2847 Employment, Infrastructure, and Transportation Appropriations and Tax Credits ("Senate Jobs Bill")
Outcome: Cloture Invoked (62/30)
Summary: -Specifies that most employers will not be required to pay an excise tax on wages for employees who began employment between February 3, 2010 and December 31, 2010, with the following conditions (Sec. 101): -The employer must provide a signed affidavit that employees have not worked more than 40 hours a week in the 60 days prior to employment;
-The employee was not hired to replace a worker that was fired; and
-The employee is not a corporation, nor owns either directly or indirectly more than 50 percent of the company's capital. -Increases the current year business tax credit for employers that have retained workers for at least 52 consecutive weeks in the amount of $1,000 times the amount of workers retained in the taxable year, only if during the last 26 weeks of the taxable year retained employees were paid at least 80 percent of what they were paid in the first 26 weeks of the taxable year (Sec. 102).
-Increases the expensing allowance for depreciable business assets for taxable years beginning after 2007 and before 2011 from $125,000 to $250,000 (Sec. 201).
-Specifies that issuers of clean energy bonds, qualified energy conservation bonds, qualified zone academy bonds, and qualified school construction zone bonds may elect to apply for a tax credit, and may be credited as follows (Sec. 301):-If a small bond issuer, 65 percent of the amount of payable interest; and
-If any other bond issuer, 45 percent of the amount of payable interest. -Establishes obligation ceilings for amounts made available from the Highway Trust Fund as follows (Sec. 437):-$10.51 billion for fiscal year 2010; and
-$2.63 billion for the period between October 1, 2010 and December 31, 2010. -Requires any individual with more than $50,000 to report any funds held in a depository or custodial account that is maintained by a foreign financial institution (Sec. 511).
-Requires United States shareholders of a passive foreign investment companies to file annual informational returns (Sec. 521).
-Specifies that a foreign trust has a United States beneficiary if the following applies (Sec. 531):-The beneficiary's interest in the trust is contingent on a future event; or
-The beneficiary directly or indirectly transfers property to a foreign trust or uses trust property without paying compensation. -Appropriates $528.03 million to the Federal-aid highway program for fiscal year 2010 (Sec. 412).
-Appropriates $1.71 billion for the extension of National Highway Traffic Safety Administration Programs (Sec. 421).
-Appropriates $795.28 million for the extension of Federal Motor Carrier Safety Administration Programs (Sec. 422).
-Appropriates $43.22 billion for Public Transportation Programs (Title IV, Subtitle C). |
Cantwell's Vote
Y |
(2010) HJR 45 Increasing the Public Debt Limit and Reinstating PAYGO
Outcome: Bill Passed (60/39)
Summary: -Reinstates the Pay-As-You-Go (PAYGO) budget rule, a rule that applies to bills or joint resolutions that affect direct spending or revenue relative to the baseline and that requires such bills to be budget-neutral (Sec. 2).
-Requires PAYGO legislation to include an estimate of its budgetary effects, as provided by the Congressional Budget Office, at one of the following times (Sec. 4):-Prior to a vote on passage in a chamber;
-Prior to the first action by a chamber on a conference report or an amendment between the chambers; or
-Upon enactment of the legislation. -Requires the Office of Management and Budget to maintain and make public on every piece of PAYGO legislation two sets of scorecards, which shall measure the budgetary effects of such legislation over 5 years and over 10 years (Sec. 4).
-Requires the Office of Management and Budget at the end of every Congressional session to publish and make public a PAYGO report, which shall include the following (Sec. 5):-Current PAYGO scorecards on all PAYGO legislation;
-Any current policy adjustments;
-Information about any emergency legislation;
-Sequestration orders that show how direct spending will be adjusted to offset any costs shown on PAYGO scorecards; and
-Other data that would "enhance public understanding" of the above items. -Requires the Office of Management and Budget to calculate the uniform percentage of funds that are to be seized in order to balance spending, and specifies that any uniform percentage exceeding 4 percent shall result in Medicare spending reductions of 4 percent, as well as spending reductions in other nonexempt direct spending programs (Sec. 6).
-Lists several federal programs and activities that would be exempt from payment reductions, including, but not limited to, Social Security Benefits and Tier I Railroad Retirement Benefits, Veterans Programs, and Refundable Income Tax Credits (Sec. 11).
-The text of this resolution was replaced by a substitute amendment sponsored by Sen. Harry Reid. |
Cantwell's Vote
Y |
(2010) S Amdt 3302 Establishing a Federal Budget Deficit Commission
Outcome: Amendment Rejected (53/46)
Summary: -Establishes the "Bipartisan Task Force for Responsible Fiscal Action," a task force that shall analyze projected federal revenues and expenditures, assess the current and long-term financial condition of the federal government, and whose membership shall consist of:-Eight Senators, four to be selected by the Senate majority leader and another four to be selected by the Senate minority leader;
-Eight Representatives, four to be selected by the Speaker of the House and another four to be selected by the House minority leader;
-The Secretary of the Treasury; and
-Another officer of the Executive branch, to be appointed by the President. -Requires the Task Force to submit a report no later than November 15, 2010 detailing its findings, conclusions, and recommendations, as well proposed legislative language to carry out the recommendations, to be submitted to the President, the Vice President, the Speaker of the House, and the majority and minority leaders of both chambers of Congress.
-Authorizes "expedited consideration" of a bill incorporating the proposed legislative language recommended in the Task Force report, subject to, but not limited to, the following requirements:-The bill must be introduced no later than November 23, 2010, and shall proceed to consideration two days after being reported from committee;
-Congress is prohibited from amending, postponing, or recommitting the bill;
-The bill requires a three-fifths majority vote to pass; and
-The bill must receive a vote on passage in both chambers of Congress no later than December 23, 2010. -Specifies that members of the Task Force shall not receive any additional compensation for their participation and that the Task Force shall terminate 90 days after submitting the report. |
Cantwell's Vote
N |
(2010) S Amdt 3301 Ending the Troubled Asset Relief Program
Outcome: Amendment Rejected (53/45)
Summary: -Specifies that the national debt limit shall be lowered to correspond with TARP repayments. |
Cantwell's Vote
N |
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