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Charles Pickering on Budget & Economy

Republican Representative (MS-3)


Voted NO on $15B bailout for GM and Chrysler.

Congressional Summary:

Proponent's argument to vote Yes:Rep. BARNEY FRANK (D, MA-4): This economy is in the worst shape that it has been in since the Great Depression. This Congress voted 2 months ago to advance $25 billion to the auto industry to promote innovation. This $15 billion is an additional "bridge loan."

Opponent's argument to vote No:Rep. SPENCER BACHUS (R, AL-6): We all understand that the bankruptcy of either GM or Chrysler would have a cascading effect on other manufacturers. But I cannot support this plan because it spends taxpayer money without any real promise to return the industry to profitability. I see several glaring flaws. We are creating a new car czar to manage these companies from Washington; not a CEO, but a car czar. Second, this legislation actually imposes new and expensive mandates on our automobile companies. Third, this legislation imposes Federal Government management on the Big Three, the wisdom of Washington. It is clear that the management of these companies have made mistakes, many mistakes, but to set up a command and control Federal bureaucrat is exactly the wrong solution.

Rep. RON PAUL (R, TX-14): The problems that we are facing today date back to 1971. But we don't seem to want to go back and find out how financial bubbles form and why they burst. Instead, we just carry on doing the same old thing and never look back. We spend more money, we run up more debt, we print more money, and we think that is going to solve the problem that was created by spending too much money, running up debt, printing too much money. Today, we are talking about tinkering on the edges without dealing with the big problem.

Reference: Auto Industry Financing and Restructuring Act; Bill HR.7321 ; vote number 2008-H690 on Dec 10, 2008

Voted NO on defining "energy emergency" on federal gas prices.

Congressional Summary:

SUPPORTER'S ARGUMENT FOR VOTING YES:Rep. WATERS: This bill preserves public housing. The administration eliminated the one-for-one replacement requirement in 1996, effectively triggering a national sloughing off of our Nation's public housing inventory. Housing authorities have consistently built back fewer units than they have torn down and, as a result, over 30,000 units have been lost. I urge you to support our Nation's low-income families and to preserve our housing stock.

OPPONENT'S ARGUMENT FOR VOTING NO:Rep. HENSARLING: President Reagan once said that the nearest thing to eternal life on Earth is a Federal program, and I don't think there is any better case study than perhaps the HOPE VI program. If there was ever a program that cried out for termination, it's this one.

This program began in 1992 with a very noble purpose of taking 86,000 units of severely distressed public housing and replacing them, demolishing them. Well, it achieved its mission. But somewhere along the line we had this thing in Washington known as mission creep.

We already have 80-plus Federal housing programs, and the budget for Federal housing programs has almost doubled in the last 10 years, from $15.4 billion to more than $30 billion now. So it's very hard to argue that somehow Federal housing programs have been shortchanged.

LEGISLATIVE OUTCOME:Bill passed House, 271-130

Reference: HOPE VI Improvement and Reauthorization Act; Bill H.R.3524 ; vote number 08-HR3524 on Jan 17, 2008

Voted NO on regulating the subprime mortgage industry.

H.R.3915: To reform consumer mortgage practices and provide accountability for such practices, to establish licensing and registration requirements for residential mortgage originators. Prohibits certain creditor practices with respect to high-cost mortgages, including:

Proponents support voting YES because:

Rep. FRANK: This legislation seeks to prevent a repetition of events that caused one of the most serious financial crises in recent times. We have a worldwide problem economically, with a terrible shortage of credit. Innovations in the mortgage industry, in themselves good and useful, but conducted in such a completely unregulated manner as to have led to this crisis. The fundamental principle of the bill is not to put remedies into place, but to stop future problems from occurring in the first place. We have had two groups of mortgage originators: banks subject to the regulation of the bank regulators; and then mortgage loans made by brokers who were subject to no regulation. The secondary market has been on the whole useful but, having been unregulated, has caused some problems.

Opponents recommend voting NO because:

Rep. HENSARLING: This is a bad bill for homeowners in America. There is no doubt that this Nation faces a great challenge in the subprime market, but this piece of legislation is going to make the situation worse. Clearly, there has to be enforcement against fraud in the subprime market. But what Congress should not do is essentially outlaw the American Dream for many struggling families who may be of low income, who may have checkered credit pasts, for whom a subprime mortgage is the only means to purchase a home.

Reference: Mortgage Reform and Anti-Predatory Lending Act; Bill HR3915 ; vote number 2007-1118 on Nov 15, 2007

Allow $3 on 1040 form to pay off National Debt.

Pickering co-sponsored allowing $3 on 1040 form to pay off National Debt

OFFICIAL CONGRESSIONAL SUMMARY: Amends the Internal Revenue Code to permit an individual to designate three dollars on his or her income tax return (six dollars on a joint return) to be used to reduce the public debt of the United States.

SPONSOR'S INTRODUCTORY STATEMENT: Pres. Eisenhower apparently once said that he believed that there could be no surplus as long as our Nation was in debt. I come from that school of thought, and yet that is not exactly where we are right now in Washington.

Where we are right now is debating whether or not 90 percent or 50 percent, or some number in between, of these projected future surpluses should be allocated to the debt. What struck me is the fact that really more than just the Congress should be involved in that debate. It is for that reason that I introduce today the Taxpayers' Choice Debt Reduction Act.

What this bill would do would be to simply take the 1040, the tax return as we now know it. And right now, we can send $3 to the presidential campaign. This would create another box wherein we could send 3 bucks to debt reduction. That is not enough money to change our national debt, but it is enough money to make a small step in an important debate that we all ought to be a part of.

LEGISLATIVE OUTCOME: Referred to the House Committee on Ways and Means; never called for a House vote.

Source: Taxpayers' Choice Debt Reduction Act (H.R.5349) 00-HR5349 on Sep 29, 2000

2012 Governor, House and Senate candidates on Budget & Economy: Charles Pickering on other issues:
MS Gubernatorial:
Haley Barbour
Phil Bryant
MS Senatorial:
Roger Wicker
Thad Cochran

Retiring to run for other office:

Running for Mayor:
CA-51:Bob Filner(D)

Running for Governor:
IN-6:Mike Pence(R)
WA-1:Jay Inslee(D)

Running for Senate:
AZ-6:Jeff Flake(R)
CT-5:Chris Murphy(R)
FL-14:Connie Mack(R)
HI-2:Mazie Hirono(D)
IN-2:Joe Donnelly(D)
MO-2:Todd Akin(R)
MT-0:Dennis Rehberg(R)
ND-0:Rick Berg(D)
NM-1:Martin Heinrich(D)
NV-1:Shelley Berkley(D)
WI-2:Tammy Baldwin(D)
2011-2012 Special Elections:
AZ-8:Gabby Giffords(D)
CA-36:Jane Harman(D)
CA-36:Janice Hahn(D)
NV-2:Dean Heller(R)
NV-2:Mark Amodei(R)
NY-9:Anthony Weiner(D)
NY-9:Bob Turner(R)
NY-26:Chris Lee(R)
NY-26:Kathleen Hochul(D)
OR-1:David Wu(D)
OR-1:Suzanne Bonamici(D)

Retiring 2012:
AR-4:Mike Ross(D)
AZ-8:Gabby Giffords(D)
CA-2:Wally Herger(R)
CA-6:Lynn Woolsey(D)
CA-18:Elton Gallegly(R)
CA-24:Dennis Cardoza(D)
CA-41:Jerry Lewis(R)
IL-12:Jerry Costello(D)
IN-5:Dan Burton(R)
KY-4:Geoff Davis(R)
MA-1:John Olver(D)
MA-4:Barney Frank(D)
MI-5:Dale Kildee(D)
NC-11:Heath Shuler(D)
NC-13:Brad Miller(D)
NY-22:Maurice Hinchey(D)
OH-7:Steve Austria(R)
OK-2:Dan Boren(D)
PA-19:Todd Platts(R)
TX-14:Ron Paul(R)
TX-20:Charles Gonzalez(D)
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