Bill Nelson on Corporations

Democratic Sr Senator (FL)

Voted YES on repealing tax subsidy for companies which move US jobs offshore.

Amendment to repeal the tax subsidy for certain domestic companies which move manufacturing operations and American jobs offshore. Reference: Tax Subsidy for Domestic Companies Amendment; Bill S AMDT 210 to S Con Res 18 ; vote number 2005-63 on Mar 17, 2005

Voted YES on reforming bankruptcy to include means-testing & restrictions.

Amends Federal bankruptcy law to revamp guidelines governing dismissal or conversion of a Chapter 7 liquidation (complete relief in bankruptcy) to one under either Chapter 11 (Reorganization) or Chapter 13 (Adjustment of Debts of an Individual with Regular Income). Voting YES would:

Declare a debtor eligible only for Chapter 13, as anyone financially capable of paying back their creditors at a rate that still allows them to earn above their state's median income
Place domestic support obligations such as child support and alimony amongst the first priority claim category of non-dischargeable debts on a debtor filing for bankruptcy
Require debtors to pay for and attend credit counseling prior to filing for bankruptcy
Cap home equity protection at $125,000 if the debtor purchased a house within 40 months of filing for bankruptcy.

Reference: Bankruptcy Abuse Prevention and Consumer Protection Act of 2005; Bill S 256 ; vote number 2005-44 on Mar 10, 2005

Voted NO on restricting rules on personal bankruptcy.

Vote to pass a bill that would require debtors able to repay $10,000 or 25 percent of their debts over five years to file under Chapter 13 bankruptcy (reorganization and repayment) rather than Chapter 7 (full discharge of debt). Reference: Bill HR 333 ; vote number 2001-236 on Jul 17, 2001

Rated 48% by the US COC, indicating a mixed business voting record.

Nelson scores 48% by US Chamber of Commerce on business policy

Whether you own a business, represent one, lead a corporate office, or manage an association, the Chamber of Commerce of the United States of AmericaSM provides you with a voice of experience and influence in Washington, D.C., and around the globe.

Our members include businesses of all sizes and sectors—from large Fortune 500 companies to home-based, one-person operations. In fact, 96% of our membership encompasses businesses with fewer than 100 employees.

Mission Statement:

"To advance human progress through an economic, political and social system based on individual freedom, incentive, initiative, opportunity, and responsibility."

The ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position. Source: COC website 03n-COC on Dec 31, 2003

Screen imports & ban lead in children's products.

Nelson co-sponsored screening imports & ban lead in children's products

A bill to reform the Consumer Product Safety Commission to provide greater protection for children's products, to improve the screening of non-compliant consumer products, to improve the effectiveness of consumer product recall programs, and for other purposes.

Requires third party certification of, and provides for tracking and record keeping regarding, children's products.
[Increase] reporting of substantial product hazards and corrective action plans.
Requires certain manufacturers or distributors to post an escrow or proof of insurance to cover recalls.
Allows enforcement by state attorneys general and provides public and private sector whistleblower protections.
Bans children's products containing lead and lowers the allowable lead content in paint.
Requires a study of preventable injuries and deaths of minority children related to consumer products.
Requires a cost-benefit analysis under the Poison Prevention Packaging Act.
Requires development of a risk assessment methodology regarding imports.
Requires publication of a list of product defects that constitute a substantial product hazard.
Conditions importation of a consumer product on the manufacturer's compliance with inspection and record keeping requirements.
Requires a database on violations of consumer product safety rules to be used to determine whether a container being imported contains consumer products that are in violation of a consumer product safety standard and whether action should be taken under imported products provisions.

House version is H.R.4040. Source: CPSC Reform Act (S.2663) 08-S2663 on Feb 25, 2008

Expand lending caps for credit unions to small business.

Nelson co-sponsored Small Business Lending Enhancement Act

Congressional Summary:

Amends the Federal Credit Union Act to limit loans outstanding to either 1.75 times the net worth, or 12.25% of the total assets of the credit union.
Authorizes insured credit unions to make business loans up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria.
Directs the development of a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.

Supporter's Comments: (by CUNA, a pro-credit union organization)
America's small businesses are the engine of growth of our nation's economy. The effects of the financial crisis of the past few years have spread to all types of lending, resulting in a reduction in the availability of business credit. At a time when banks are withdrawing credit from America's small businesses, credit unions have actually been expanding credit to small businesses, but with more credit unions approaching the cap, this growth is threatened. Congress should enact legislation which increases the credit union member business lending cap from 12.25% of assets to 27.5% for well-capitalized credit unions

Opponent's Comments: (by the Independent Community Banks of America, Nov. 15, 2012)
The tax-subsidized credit union industry is pressing for doubling the statutory cap Congress placed on member business loans. Shifting assets from tax-paying banks to tax-exempt credit unions would reduce tax revenue to the government; the CBO estimates the revenue impact at $354 million over 10 years. We believe that banks are currently meeting the needs of credit-worthy businesses, as substantiated by numerous business surveys.

Source: HR1418 /S2231 12-S2231 on Mar 22, 2012

Rated 71% by UFCW, indicating a mixed management/labor voting record.

Nelson scores 71% by UFCW on labor-management issues

The United Food and Commercial Workers International Union (UFCW) is North America's Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.

American Jobs Act (+)
Balanced Budget Amendment (-)
Rejecting Cut, Cap, and Balance (+)
Repeal Health Care Law (-)
Sen. Am. 14 Wicker Am. to S 223, excluding unionization at TSA (-)
Sen. Am. 740 McCain Am. to HR 2112, defunding TAA (-)
Trade Adjustment Assistance Extension Act (TAA) (+)

Source: UFCW website 12-UFCW-S on May 2, 2012

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Page last updated: Apr 21, 2013