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McCain on the Issues - Economic Plan
McCain Website ^

Posted on 05/13/2008 10:17:56 AM PDT by Bob J

McCain Economic Plan

Across America, families are facing economic challenges. Gas prices are rising, mortgages are threatened, and thousands have lost their jobs. Now is the time to act and John McCain has outlined several near-term, tangible plans to address some of the challenges confronting Americans today

Helping Americans Confront Higher Living Costs:

John McCain Will Help Americans Hurting From High Gasoline And Food Costs. Americans need relief right now from high gas prices. John McCain will act immediately to reduce the pain of high gas prices.

John McCain Believes We Should Institute A Summer Gas Tax Holiday. Hard-working American families are suffering from higher gasoline prices. John McCain calls on Congress to suspend the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. John McCain Will Stop Filling The Strategic Petroleum Reserve (SPR) To Reduce Demand. International demand for oil is bolstered by federal purchases for the SPR. There is no reason to fill it when oil is so expensive, the overall SPR is of adequate size, and when it places further upward pressure on prices.

John McCain Will End Policies That Contribute To Higher Transportation And Food Costs. Ethanol subsidies, tariff barriers and sugar quotas drive up food prices and hurt Americans. However, we cannot take the wrong direction and cut off trade for American goods.

Helping Americans With The Housing Crisis:

John McCain Is Proposing A New "HOME Plan" To Provide Robust, Timely And Targeted Help To Those Hurt By The Housing Crisis. Under his HOME Plan, every deserving American family or homeowner will be afforded the opportunity to trade a burdensome mortgage for a manageable loan that reflects their home's market value.

Eligibility: Holders of a non-conventional mortgage taken after 2005 who live in their home (primary residence only); can prove creditworthiness at the time of the original loan; are either delinquent, in arrears on payments, facing a reset or otherwise demonstrate that they will be unable to continue to meet their mortgage obligations; and can meet the terms of a new 30 year fixed-rate mortgage on the existing home.

How It Works: Individuals pick up a form at any Post Office and applies for a HOME loan. The FHA HOME Office certifies that the individual is qualified and contacts the individual’s mortgage servicer. The mortgage servicer writes down and retires the existing loan, which is replaced by an FHA guaranteed HOME loan from a lender.

John McCain Calls For The Immediate Formation Of A Justice Department Mortgage Abuse Task Force. The Task Force will aggressively investigate potential criminal wrongdoing in the mortgage industry and bring to justice any who violated the law. The DOJ Task Force will offer assistance to State Attorney Generals who are investigating abusive lending practices.

Keeping The Credit Crunch From Hurting College Students:

John McCain Is Proposing A Student Loan Continuity Plan. Students face the possibility that the credit crunch will disrupt loans for the fall semester. John McCain calls on the federal government and the 50 governors to anticipate loan problems and expand the lender-of-last resort capabilities for each state's guarantee agency.

John McCain believes taxes should be low, simple, and fair and has a track record of commitment to these principles.

Cutting Taxes For The Middle Class:

John McCain Will Cut Taxes For Middle Class Families. John McCain will permanently repeal the Alternative Minimum Tax(AMT) – a tax that will be paid nearly exclusively by 25 million middle class families. Repealing this onerous tax will save middle class families nearly $60 billion in a single year. Under McCain's plan, a middle class family with children set to pay the AMT will save an average of over $2,700 – a real tax cut for working families.

John McCain Will Double The Personal Exemption For Dependents. John McCain believes the tax code should be less of a burden on those, whether they are mothers and fathers or single parents, who are trying to raise a family. He proposes to raise the personal exemption for each dependent from $3,500 to $7,000.

Pro-Growth Tax Policy:

John McCain Will Keep Tax Rates Low. Entrepreneurs are at the heart of American innovation, growth and prosperity. They create the ultimate job security – a new, better opportunity if your current job goes away. Entrepreneurs should not be taxed into submission. John McCain will maintain the current income and investment tax rates and fight the Democrats' plans for a crippling tax increase in 2011. Left to their devices, Democrats will impose a massive $100 billion tax hike, almost $700 per taxpayer every year. John McCain has also long sought permanent and immediate reform of the estate tax, and supports raising the exemption from taxation on estates up to $10 million while cutting the tax rate to 15 percent.

John McCain Will Make It Harder To Raise Taxes. John McCain believes it should require a 3/5 majority vote in Congress to raise taxes.

John McCain Will Reward Saving, Investment And Risk-Taking. Low taxes on dividends and capital gains promote saving, channel investment dollars to innovative, high-value uses and not wasteful financial planning. John McCain will keep the current rates on dividends and capital gains and fight anti-growth efforts by Democrats.

John McCain Will Improve Business Investment Incentives. John McCain proposes to permit corporations to immediately deduct the cost of equipment investment, providing a valuable pro-growth investment incentive. Expensing of equipment and technology will provide an immediate boost to capital expenditures and reward investments in cutting-edge technologies.

Tax Cuts On American Employers:

John McCain Will Reduce The Federal Corporate Tax Rate To 25 Percent From 35 Percent. John McCain believes the taxes we impose on American companies should be no higher than the average rate our major trading partners impose on theirs. We currently have the second-highest combined corporate-tax rate in the industrialized world, and it is driving many businesses and the jobs they create overseas.

Pro-Innovation Tax Cuts:

John McCain Will Ban Internet Taxes. John McCain has been a leader in keeping the Internet free of taxes. As President, he will seek a permanent ban on taxes that threaten this engine of economic growth and prosperity.

John McCain Will Ban New Cell Phone Taxes. John McCain understands that the same people that would tax e-mail will tax every text message – and even 911 calls. John McCain will prohibit new cellular telephone taxes.

John McCain Will Establish Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D. This reform will simplify the tax code, reward activity in the U.S., and make us more competitive with other countries. A permanent credit will provide an incentive to innovate and remove uncertainty. At a time when our companies need to be more competitive, we need to provide a permanent incentive to innovate, and remove the uncertainty now hanging over businesses as they make R&D investment decisions.

Retirement Tax Cut:

John McCain Will Act To Lower Medicare Premiums. Seniors face a growing threat from higher Medicare premiums that tax away their Social Security and retirement savings. John McCain has proposed comprehensive, pro-market health care and Medicare reforms to reduce health care costs and control increases in premiums – while delivering high-quality health care.

A Real Choice For Simpler Taxes:

John McCain Will Propose An Alternative New And Simpler Tax System – And Give America A Real Choice. When this reform is enacted, all who wish to stay under the current system could still do so, but everyone else could choose a vastly less complicated system with two tax rates and a generous standard deduction. Americans do not resent paying their rightful share of taxes – what they do resent is being subjected to thousands of pages of needless and often irrational rules and demands from the IRS.

Wasteful spending in Washington has gone from irresponsible to indefensible. Right now, even the government reports that one-fifth of programs are receiving failing marks. John McCain will restore the trust that Americans have lost in their government spending their hard earned money wisely.

Eliminating Wasteful Spending:

John McCain Will Stop Earmarks, Pork-Barrel Spending, And Waste. He will veto every pork-laden spending bill and make their authors famous. As President, he will seek the line-item veto to reduce waste and eliminate earmarks that have led to corruption. Unlike Senators Clinton and Obama who have sought a nearly combined $3 billion in earmarks, John McCain has a clear record of not asking for earmarks. Earmarks restrict America's ability to address genuine national priorities and interfere with fair, competitive markets.

John McCain Proposes A One-Year Spending Pause To Evaluate Programs. He believes that outside of essential military and veterans programs there should be a one-year pause in discretionary spending growth that should be used for a top-to-bottom review of the effectiveness of federal programs.

John McCain Has The Leadership And Courage To Make The Right Spending Choices. Reduced spending means making choices. John McCain will not leave office without balancing the federal budget. He will not do it with smoke and mirrors. When he leaves office, he wants to leave a budget that stays balanced after he is gone, and can weather the occasional downturn and unexpected contingency. John McCain will provide the courageous leadership necessary to control spending, including:

Eliminate Broken Government Programs. The federal government itself admits that one in five programs do not perform.

Reform Our Civil Service System To Promote Accountability And Good Performance In Our Federal Workforce.

Eliminating Earmarks, Wasteful Subsidies And Pork-Barrel Spending.

Reform Procurement Programs And Cut Wasteful Spending In Defense And Non-Defense Programs.

Budgetary Reform To Give Tax Cuts A Fair Chance:

John McCain Will Reform Budgeting To Treat Equally Spending And Taxes And To Stop Damaging Tax Hikes. Congress has unfairly stacked the deck to spend more and raise taxes. If a spending program is on the books, budgets assume that it is on the books forever – and continues to grow – even if the law says it expires. If low taxes are on the books, budgets don't assume that they last forever. When they expire, those taxes are automatically raised.

Reforming Entitlement Programs For The 21st Century:

John McCain Will Reform Social Security. He will fight to save the future of Social Security while meeting our obligations to the retirees of today and the future without raising taxes. John McCain supports supplementing the current Social Security system with personal accounts – but not as a substitute for addressing benefit promises that cannot be kept. He will reach across the aisle, but if the Democrats do not act, he will. John McCain will not leave office without fixing the problems that threatens our future prosperity.

John McCain Will Act To Control Medicare Growth. The growth of spending on Medicare threatens our fiscal future. John McCain has proposed comprehensive health care reforms that will reduce the growth in Medicare spending, protect seniors against rising Medicare premium payments, and preserve the advancements in medical science central to providing quality care.

John McCain Believes That We Should Not Subsidize The Prescription Drugs Of America’s Most Affluent Individuals. He will propose reforms to reduce the large subsidies in the Medicare drug program.

John McCain believes that global trade is an opportunity for American workers today and in the future.

John McCain Will Lower Barriers To Trade. Ninety-five percent of the world's customers lie outside our borders and we need to be at the table when the rules for access to those markets are written. To do so, the U.S. should engage in multilateral, regional and bilateral efforts to reduce barriers to trade, level the global playing field and build effective enforcement of global trading rules. These steps would also strengthen the U.S. dollar and help to control the rising cost of living that hurts our families.

John McCain Will Act To Make American Workers More Competitive. We must prepare the next generation of workers by making American education worthy of the promise we make to our children and ourselves. We must be a nation committed to competitiveness and opportunity. We must fight for the ability of all students to have access to any school of demonstrated excellence. We must place parents and children at the center of the education process, empowering parents by greatly expanding the ability of parents to choose among schools for their children.

Job security may well be the most pressing problem confronting Americans. Jobs are in jeopardy and the government backstop is not up to the task. For more than a year, John McCain has been calling for comprehensive reform of our unemployment insurance and displaced worker programs.

Reforming The Unemployment Insurance (UI) System:

John McCain Believes We Should Have A Single, Seamless Approach To Job Transition Assistance. The UI system must be more effective in helping those who have lost a job. John McCain will modernize and transform our current programs by consolidating redundant federal programs, strengthening community colleges and technical training and giving displaced workers more choices to find their way back to productive and prosperous lives.

John McCain Will Reform The UI System So That A Portion Of Each Worker's Unemployment Insurance Tax Is Deposited Into A Lost Earnings Buffer Account (LEB). If an individual becomes unemployed, the LEB may be used to cover needed expenses, with a backstop of traditional UI if the account is exhausted before 26 weeks. Workers will have an incentive to preserve their LEB by getting back to work quickly, and may be eligible for a re-employment bonus if they get a new job quickly. The LEB will be portable, and upon retirement, the property of the worker.

John McCain Will Reform Training Programs To Provide Quick Assistance To Workers Seeking New Skills. Workers will have access to a flexible training account that permits them to pay for training at a community college and use leftover funds to keep their health insurance.

John McCain Will Provide Special, Targeted Assistance For Older Workers. Because training is often inefficient for older workers, those 55 years of age and older who have built up an LEB will be eligible for a Lost Earnings Supplement. The supplement of up to 50 percent of their earnings loss (up to a maximum of $10,000) for two years will be rewarded for those who find work inside 26 weeks.


TOPICS: Extended News; News/Current Events; Politics/Elections
KEYWORDS: 2008; clueless; economy; johnmccain; mccain; mccainontheissues; rino
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To: KentTrappedInLiberalSeattle

Agreed. I think this is more of his “populist” campaign rhetoric than a nserious plan but it may get passed anyway in the hysteria of this mortgage disaster,


21 posted on 05/13/2008 10:51:12 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: Bob J

This a pie in the sky plan that will go the way of dugout conoe’s and 8 track tapes.

Once this stupid idiot moron grants amnesty to 30,000,000 illegal immigrents, taxes will have to go up to pay them for their votes, err I mean their FREE benifits.

This new mod of voters will be dems, unless McStupid can out pander the one person more to the left then he, Obama.


22 posted on 05/13/2008 10:51:13 AM PDT by stockpirate (30,000,000 reasons to NOT support McCain, immigration.)
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To: BloodOrFreedom

Agreed about ANWAR and as for the gas taxes, if it makes sense to cut them for a short time, why not forever?


23 posted on 05/13/2008 10:52:22 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: Man50D

Quit spamming the threads. Thank you.


24 posted on 05/13/2008 10:52:31 AM PDT by Lead Moderator
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To: mek1959

McCain may be triangulating the dems and trying to take GW off the table as a wedge issue for them in the campaign.


25 posted on 05/13/2008 10:53:40 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: San Jacinto

I’m just posting info from his website. If people have extended or contradictory information on each of these topics, that is what the thread is for. But let’s please keep it to the topic on hand.


26 posted on 05/13/2008 10:55:44 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: Bob J
Gee, where to start?

Helping Americans With The Housing Crisis:

The mortgage servicer writes down and retires the existing loan, which is replaced by an FHA guaranteed HOME loan from a lender.

First, who will be paying the difference in mortgage values? Mortgage companies are NOT going to eat the balances, so that leaves the American taxpayers holding the bill (bailout). No thanks John, these life lessons need to be learned the hard way by those who used credit irresponsibly.

27 posted on 05/13/2008 10:55:47 AM PDT by Kolb
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To: Bob J
There are significant differences between John McCain and the Barak Obama. Some are huge. The WOT pops up as first and foremost. Our troops deserve beter than a surrender monkey like Obama, who would basically capitualte to the Islamofascists. McCain would not. McCain has a pretty good pro-life record. Along with opposing abortion on demand, McCain believes in a strong national defense and spending reforms that would eliminate most pork barrel projects.

However, as with many of the Republicans who stood shoulder to shoulder with President Reagan in the 1980`s, McCain has sold out. Once a foot soldier in the Reagan Revolution and someone who believed in conservatism, McCain has drifted leftward. Especially in the last decade.

McCain's recent affirmation to BOR that there will be no drilling in ANWR shows why he'll have an uphill climb in getting conservatives to vote for him. In the end, it'll be a judgment call for conservatives. Will they be willing to back McCain , knowing they'll be fighting him 50% of the time, or will they settle for fighting Obama 95% of the time. A strong conservative running mate might make that decision more palatable for us.

28 posted on 05/13/2008 10:56:59 AM PDT by Reagan Man (McCain Wants My Conservative Vote --- EARN IT or NO DEAL !!!)
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To: willgolfforfood

Don’t know but it would be helpful if sonmeone who was familir with the AMT to jump in and offer some insight.


29 posted on 05/13/2008 10:57:26 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: massgopguy

“I’m John McCain and my economic plan starts with selling the Czar’s Fabrege Eggs for $3 a piece.”

Like I said...some are so wrapped up in the bitterness...that they refuse to have an intellegent discussion about what’s at stake and how we can best support and serve our nation. McCain is not perfect. But in this election cycle; he has my vote. So blathering about his well know short-comings is pointless. Let’s get on with the discussion of his proposals and how to respond to them in a way that gets this country on the right track.

The idea that we’ll elect the perfect canidate and then go on about our lives...is not going to happen. We have to get organized and active and stay that way during a McCain Presidency. I’m willing to do the work...are you?


30 posted on 05/13/2008 10:58:21 AM PDT by HappyinAZ
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To: Bob J

He has first rate economic advisors including Phil Graham and Steve Forbes. I think what you are seeing is political posturing. Reagan had the Reagan Democrats. He went after and got the Teamsters for goshsakes. The Reagan Democrats are dead. A 40 year old union pipefitter who voted for Reagan in ‘80 retired two or five years ago. Their sons and daughters now work in financial services and believe in global warming. He is going after these folks.


31 posted on 05/13/2008 11:00:06 AM PDT by MARTIAL MONK (I'm waiting for the POP!)
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To: Reagan Man

Well said Reagan Man.


32 posted on 05/13/2008 11:03:15 AM PDT by 1035rep
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To: Kolb

It says the mortgage servicer has to write down the loan. Do you know what that means?


33 posted on 05/13/2008 11:03:24 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: Kolb
The mortgage servicer writes down and retires the existing loan, which is replaced by an FHA guaranteed HOME loan from a lender.

JM is essentially proposing a new home ownership entitlement. If one is entitled to convert an existing loan in default into a new loan, then one will also be entitled to get the better loan at purchase time instead of the subprime loan. The rats see an opportunity for a new entitlement. JM's plan will give them the cover.

Although the tax plan ideas seem promising, they will never even get a consideration in a rat Congress. McCain has a record against tax cuts so I do not see any hope that he has changed. Instead, the rats will use JM's backing to pass lots of Marxist legislation. The rats want shared blame for the mess that they will create.

34 posted on 05/13/2008 11:12:26 AM PDT by businessprofessor
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To: Reagan Man

The two obvious issues we will be fighting him on will be immigration and globull warming.

Instead of constantly whining and threatening to pick up our ball and go home, we should be working on building grass roots coalitions to confront these monstrosities when McCain tries to elevate them.

Just like we did with the SC nominations and shamnesty 1.

I will say this as well, the minority of people going from thread to thread with their “let’s pick up our ball and vote 3rd party..that’ll teach ‘em!” are completely useless. They don’t understand politics and are so completely self absorbed that it renders them useless in a foxhole or in a firefight. Not only are they useless they hurt our ability to even mount a campaign with their negativity, sucking the life out of any positive action before it gets started.

They are like spoiled, petulant children who need to be spanked and sent to their rooms.


35 posted on 05/13/2008 11:14:27 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: businessprofessor

“McCain has a record against tax cuts so I do not see any hope that he has changed.”

From what I understand, it isn’t that he is against tax cuts he just thinks they should be accompanid by concurrent spending cuts...or the tax cut just gets put on the national debt.

Sounds like a reasonable position and I don’t see the problem with working toward spending cuts as well as tax cuts.


36 posted on 05/13/2008 11:17:18 AM PDT by Bob J ("For every 1000 hacking at the branches of evil, one is striking at it's root.")
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To: Bob J
The anti-McCain crowd consistently state that there is no difference between McCain and Obama/Clinton, which is simply ridiculous. There are points where the difference is less stark than others but to make a sweeping claim such as that, IMO, demonstrates the hsyterical lengths some will go to try to get others to stay home or vote third party on election day.

I can tell the difference, and I don't need new glasses. A shame all three missed so many votes, but by ACU standards, McCain in 8 of 10, Hillary 0 for 16, and Obama a "respectable" 1 for 15. 8 for 10 for McCain, 1 for 31 for the dems. No difference at all.

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2007 Votes

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

2007

2006

YOS

Life

Obama

+

-

-

-

-

-

-

-

-

X

-

-

X

X

X

X

X

-

-

-

X

-

X

X

X

7

8

3

7.67

Clinton

-

-

-

-

-

-

-

-

-

X

-

-

-

X

X

X

X

X

-

-

-

-

X

X

X

0

8

7

7.71

McCAIN

+

+

X

+

+

+

-

X

-

X

X

+

+

X

X

X

X

X

+

X

X

X

X

X

X

80

65

25

82.16

1. Earmark Disclosure
S1 (Roll Call 5).  The Senate killed an amendment that would have required the disclosure of the names of Senators requesting special interest earmark spending and expanded the definition of earmarks to include federally-funded non-federal projects.  ACU favors greater transparency in “earmarked” spending and favored this amendment, which was defeated January 11, 2007 by a vote of 46-51.
TOP

2.
Regulation of Grassroots Lobbying
S 1 (Roll Call 17).
  The Senate adopted an amendment protecting grassroots lobbying organizations from having to reveal the names of their contributors.  ACU favored this amendment, which passed the Senate January 18, 2007 by a vote of 55-43.
TOP

3.
Iraq War—Cloture
S 574 (Roll Call 51).  The Senate refused to move to a vote on a resolution disapproving the “surge” of 20,000 additional troops into Iraq.  ACU opposed this resolution.  Although the motion achieved a 56-34 majority on February 17, 2007, 60 votes are required to shut off debate, so the resolution was not approved.
TOP

4.
Tax Cuts
SConRes 21 (Roll Call 107).
  The Senate rejected an amendment to the Fiscal Year 2008 Budget Resolution that would have permitted the extension of the 2001 tax cuts  ACU favored the amendment, which was defeated March 23, 2007 by a vote of 46-52.
TOP

5.
Alternative Minimum Tax
SConRes 21 (Roll Call 108).
  The Senate rejected an amendment to the FY 2008 Budget Resolution that would have permitted the repeal of the Alternative Minimum Tax, a tax designed to apply only to millionaires, but now affecting 21 million middle-income families.  ACU favors repeal of the AMT and so supported this amendment, which failed March 23, 2007 by a vote of 44-53.
TOP

6.
Estate (“Death”) Tax Repeal
SConRes 21 (Roll Call 109).
  The Senate rejected an amendment to the FY 2008 Budget Resolution that would have permitted the permanent repeal of the estate tax.  ACU favors elimination of the death tax and supported the amendment, which was defeated March 23, 2007 by a vote of 44-55.
TOP

7.
Stem Cell Research
S5 (Roll Call 127).  The Senate passed a bill mandating the use of federal funds in research on embryonic stem cells derived from surplus embryos at in vitro fertilization clinics.  ACU opposes such research and opposed the bill, which passed April 11, 2007 by a vote of 63-34.
TOP

8.
Small Business Regulation
S 761 (Roll Call 139).
  The Senate killed an amendment allowing small businesses to opt out of the most burdensome reporting provisions of the Sarbanes-Oxley Act regulating reporting of publicly-traded companies on the stock exchange.  ACU favors this exemption, but the Senate defeated it April 24, 2007, by a vote of 62-35.
TOP

9.
Immigration Overhaul—Cloture
S 1348 (Roll Call 206).
  The Senate refused to stop debate and move to a vote on a bill overhauling immigration law, allowing illegal aliens a path to citizenship and instituting new border security measures.  ACU opposed this measure and supported continued debate.  On June 7, 2007 the Senate defeated the cloture motion by a vote of 45-50 (60 votes are required to invoke cloture).
TOP

10.
Coastal Drilling for Natural Gas
HR 6 (Roll Call 212).
  The Senate rejected an amendment to the Energy Policy Bill that would have allowed Virginia to petition for natural gas exploration and drilling in the state’s coastal waters.  ACU favors development of domestic energy sources and supported this amendment, which was defeated June 14, 2007 by a vote of 43-44.
TOP

11.
Energy Policy
HR 6 (Roll Call 226).
  The Senate passed legislation imposing massive new regulation on the energy industry, including a rise in automobile mileage to 35 miles per gallon by 2020, a ban on the incandescent light bulb, new energy efficiency mandates for appliances, the use of 15 billion gallons of biofuels by 2015, and the taxpayer subsidy of new energy technologies.  ACU opposes this kind of direct government interference in the economy, but the bill passed June 21, 2007 by a vote of 65-27.
TOP

12.
Employee Rights—Cloture
HR 800 (Roll Call 227).  The Senate refused to stop debate and move to a vote on a bill that would have stripped workers of the rights to a secret ballot when deciding on unionization.  ACU opposed the bill and supported continued debate.  On June 26, 2007, by a vote of 51-48, a majority of the Senate voted to invoke cloture, but under Senate rules 60 votes are required to stop debate.
TOP

13.
Social Security Benefits for Illegal Aliens
HR 2669 (Roll Call 263).  The Senate voted to continue to allow Social Security benefits to be paid for illegal and fraudulent work, including the work of illegal aliens.  ACU opposes such payments and supported the effort to prohibit it.  Although a 57-40 majority of the Senate voted July 19, 2007 to waive the Budget Act and allow a direct vote on the prohibition, under Senate rules 60 votes are required to waive the Budget Act.
TOP

14.
New Student Loan Program
S 1642 (Roll Call 273).  The Senate killed an effort to establish a new program of government loans to full-time undergraduate and graduate students.  ACU opposes the creation of new federal subsidies and opposed this amendment, which failed July 23, 2007 by a vote of 37-54.
TOP

15.
U.N. Peacekeeping Operations
HR 2764 (Roll Call 317).
  The Senate killed an amendment designed to stop an increase in the U.S. share of United Nations peacekeeping costs, which is now 25 percent.  ACU opposes increased assistance to the U.N. The amendment failed September 6, 2007 by a vote of 30-63.
TOP

16.
Abortion and Sterilization
HR 2764 (Roll Call 318).
  The Senate adopted an amendment that would bar the use of taxpayer money for any organization or program that supports or manages a program of coercive abortion or involuntary sterilization.  ACU favors such a limitation, which was approved September 6, 2007by a vote of 48-45.
TOP

17.
“Mexico City” Policy
HR 2764 (Roll Call 319).
  The Senate adopted an amendment repealing the Mexico City Policy, which prohibits the use of taxpayer funds by organizations that promote or perform abortions.  ACU supports this limitation and opposed the amendment, which passed September 6, 2007 by a vote of 53-41.
TOP

18.
Davis-Bacon Requirement
HR 3074 (Roll Call 334).
  The Senate voted to kill an amendment prohibiting implementation of the Davis-Bacon Act, which requires union rates to be paid on federal construction projects.  ACU opposes Davis-Bacon, and supported the amendment, which was defeated September 12, 2007 by a vote of 56-37.
TOP

19.
District of Columbia Congressional Seat—Cloture
S 1257 (Roll Call 339).  The Senate refused to stop debate and vote on legislation increasing the size of the House of Representatives to 437, giving a seat to the District of Columbia and an additional seat to Utah.  ACU opposed this bill, and supported continued debate.  On September 18, 2007, by a vote of 57-42, a majority of the Senate voted to invoke cloture, but under Senate rules, 60 votes are required to shut off debate.
TOP

20.
Hate Crimes—Cloture
HR 1585 (Roll Call 350).  The Senate voted to stop debate and vote on an amendment establishing a special category of crime if it was based on the victim's race, color, religion, national origin, sexual orientation, gender or disability.  ACU opposes efforts to criminalize thought, but on September 27, 2007 the Senate invoked cloture on the amendment by a vote of 60-39, after which the amendment was adopted by voice vote.
TOP

21.
Health Insurance Expansion
HR 976 (Roll Call 353).
  The Senate passed a major expansion of the State Children’s Health Insurance Program (SCHIP) program authorizing $60 billion over five years, increasing subsidies and prohibiting the Department of Health and Human Services from requiring that poor children be covered before other groups.  The costs of the expansion were to be paid from increased tobacco taxes.  ACU opposed this massive expansion of welfare programs, but it was adopted September 27, 2007 by a vote of 67-29.
TOP

22.
Energy Policy—Cloture
HR 6 (Roll Call 425).  Although the Senate had earlier voted for new energy regulations (see Vote # 11 above), the House then revised them, and the Senate refused to shut off debate and move to a final vote on the revised bill mandating increased automobile mileage, the production of 36 billion gallons of “biofuels” by 2022, and new energy efficiency standards on appliances, lights, and other consumer goods while increasing taxes on domestic oil and gas companies.  ACU opposes expansion of federal authority into the economy and so opposed this bill.  On December 13, 2007 by a vote of 59-40, a majority of the Senate voted to pass the bill, but under Senate rules, 60 votes are required to invoke cloture, so the bill failed.
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23.
Eminent Domain
HR 2419 (Roll Call 429).
  The Senate defeated an amendment that would have prohibited federal, state and local governments from using eminent domain to take farmland or grazing land and use it for parks, open space or similar purposes.  ACU opposes misuse of eminent domain, and so supported the amendment.  However, on December 13, 2007, the Senate killed the amendment by a vote of 37-58
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24. Energy Policy
HR 6 (Roll Call 430).
  Voting on a  third revision of the Energy Bill (See Vote # 22 above), the Senate this time voted to pass legislation imposing massive new burdens on the energy industry of the United States while rejecting measures to increase domestic supplies of oil and gas.  ACU continued to oppose this intervention in the economy, but on December 13, 2007, the Senate adopted it by a vote of 86-8.
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25.
Alternative Minimum Tax Adjustment
HR 2764 (Roll Call 440).
  The Senate killed a one-year extension of a provision keeping 21 million middle-income taxpayers from being hit with the Alternative Minimum Tax designed to apply to millionaires.  ACU favors complete repeal of the AMT, and so opposed this stop-gap measure.  The extension was defeated December 18, 2007 by a vote of 48-46.  Although the measure did get a majority of the votes cast, under a unanimous consent agreement, 60 votes were required to pass this bill.


37 posted on 05/13/2008 11:18:25 AM PDT by SJackson (It is impossible to build a peace process based on blood, Natan Sharansky)
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To: MARTIAL MONK

If McCrazy does get elected I hope he’s at least smart enough to make Phil Gramm Treasury Secretary and let him set economic policy.


38 posted on 05/13/2008 11:20:13 AM PDT by LiveFree99
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To: Kolb
First, who will be paying the difference in mortgage values? Mortgage companies are NOT going to eat the balances, so that leaves the American taxpayers holding the bill (bailout).

You think mortgage holders will prefer the expense of the forclosure process. Doubt it, a writedown to an affordable level lets them off the hook.

39 posted on 05/13/2008 11:26:36 AM PDT by SJackson (It is impossible to build a peace process based on blood, Natan Sharansky)
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To: Bob J

Bob seeing you are with McCain, we would all like to hear the story about McCain & the boy who followed him from stop to stop wearing a penguin suit.


40 posted on 05/13/2008 11:26:49 AM PDT by stockpirate (30,000,000 reasons to NOT support McCain, immigration.)
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