Search for...
Follow @ontheissuesorg
OnTheIssuesLogo

Joe Donnelly on Corporations

Senate Challenger; Democratic Represenative (IN-2)


Challenging auto bailout put 1000s of jobs at risk

To Donnelly, currently a member of Congress, Mourdock is "an unapologetic leader of the Tea party movement" who put hundreds of thousands of jobs at risk when he challenged the Chrysler bankruptcy settlement.

To Mourdock, currently state treasurer, Donnelly is a supporter of President Obama and Senate Majority Leader Harry Reid who voted to make government bigger by supporting ObamaCare.

The debate's frequent focus on partisanship and principles has its roots in the Republican primary, when Mourdock defeated veteran Sen. Richard Lugar in large part by arguing that Lugar had compromised too often on too many issues and was no longer representing the conservative values of Hoosier voters.

Donnelly repeatedly made a pitch to those so-called "Lugar Republicans." He stressed his work with Lugar in the Senate, including both of them supporting the federal loans to Chrysler and General Motors, and cited a letter Mourdock wrote that accused Lugar of betraying conservatives.

Source: Indianapolis Star on 2012 Indiana Senate debate , Oct 15, 2012

Lower corporate tax rate from 35% to 25%

Mourdock predicted major tax reforms in Congress, but said he would not support a national sales tax to replace other taxes. He said he supports lower taxes and criticized Donnelly for opposing the elimination of the federal inheritance tax.

Donnelly said he wants to see corporate income tax rates lowered from 35 percent to 25 percent. He said he supports eliminating the inheritance tax, but only once the nation's fiscal picture is improved.

Source: Evansville Courier & Press on 2012 Indiana Senate debate , Oct 15, 2012

Voted YES on letting shareholders vote on executive compensation.

Congressional Summary:

Corporate and Financial Institution Compensation Fairness Act: Amends the Securities Exchange Act to require that any proxy for an annual shareholders meeting provide for a separate shareholder vote to approve executive compensation for named executive officers. The shareholder vote shall not be:

  1. binding on the corporation
  2. construed as overruling a board decision, or as creating or implying any additional fiduciary duty by the board; or
  3. construed as restricting or limiting shareholder ability to place executive compensation proposals within proxy materials.

Proponent's argument to vote Yes:Rep. BARNEY FRANK (D, MA-4): The amount of wages is irrelevant to the SEC. What this bill explicitly aims at is the practice whereby people are given bonuses that pay off if the gamble pays off, but don't lose you anything if it doesn't. That is, there is a wide consensus that this incentivizes excessive risk.

Opponent's argument to vote No:Rep. SPENCER BACHUS (R, AL-6): True, the first 6 pages of the bill give the owners, the shareholders, a non-binding vote on the pay of top executives. But then come the next 8 pages, the switch, which gives the regulators the power to decide appropriate compensation for not only just top executives but for all employees of all financial institutions above $1 billion in assets and all without regard for the shareholders' prior approval. So under the guise of empowering shareholders, it is, in fact, the government that is empowered. And, finally, on page 15, the bill designates those same government entities which regulated AIG, Countrywide, and collectively failed to prevent the worst financial calamity since the Great Depression. This bill continues the Democrat majority's tendency to go to the default solution for every problem: create a government bureaucracy to make decisions better left to private citizens and private corporations.

Donnelly says, "Donnelly (D-IN)"

Reference: Say-On-Pay Bill; Bill H.R.3269 ; vote number 2009-H686 on Jul 31, 2009

Voted YES on more funding for nanotechnology R&D and commercialization.

Congressional Summary:Extends funding for research and development topics, nanotechnology, project commercialization, prioritization of applications, and federal administration and oversight.

Proponent's argument to vote Yes:Rep. NYDIA VELÁZQUEZ (D, NY-12): We need jobs that cannot be shipped overseas and will not evaporate in the next cycle of boom and bust. But those jobs aren't going to appear out of thin air. They need to be created. By expanding existing industries and unlocking new ones, H.R. 2965 will generate the jobs we need. Job creation is the primary goal of R&D. But in order to generate new positions, we have to first develop new industries. Commercialization is critical to that process.

Opponent's argument to vote No:Rep. ED MARKEY (D, MA-7): I must oppose this bill because I have serious concerns about allowing SBIR awards to go to an unlimited number of businesses owned or controlled by venture capital (VC) firms. The SBIR program, responsible for over 60,000 patents, has always focused on innovation from truly small businesses for whom commercial capital market funding is typically not an option. However, with the change made in this bill, the SBIR program would be wide open to applicants that already are well-capitalized due to VC participation, crowding out the small businesses that have been the focus of the highly successful SBIR program.

While I support VC participation in the SBIR program, enabling an unlimited amount of large VC majority-owned firms to qualify for SBIR funding calls into question whether this program, intended for genuinely small businesses, is, in fact, still focused on these firms.

We should do everything in our power to strengthen small businesses that generate 70% of new jobs in our country. H.R 2965 does not do enough to ensure that small businesses are the focus of the SBIR program, and therefore I cannot support the bill.

Donnelly says, "Donnelly (D-IN)"

Reference: Enhancing Small Business Research and Innovation Act; Bill S.1233&H.R.2965 ; vote number 2009-H486 on Jul 8, 2009

Voted YES on allowing stockholder voting on executive compensation.

To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation [and as part of that process, fully disclosing executive compensation].

Proponents support voting YES because:

We should not deprive the public, the stockholders, from being able to do anything meaningful once they find out about scandalous levels of executive compensation or board compensation. Everyone talks about the corporate board as the remedy. But the board is often a part of the problem, being paid huge amounts of money for showing up once or twice a year at meetings.

Give the stockholders a meaningful remedy. Once you get the mandatory disclosure put in place by previous legislation, we are saying the stockholders should be allowed to have a referendum on that and not have a runaround by the board.

Opponents support voting NO because:

This vote is based on mischaracterization--it is an unnecessary amendment. The opportunity for these kinds of votes already exists within the structure of corporate governance right now. A good company from Georgia, AFLAC, went ahead and already has these nonbinding shareholder votes. But there is a difference between having individuals in the private sector, shareholders and individuals outside of the mandating of government to have it occur and have government come in with its heavy hand and say, this is exactly what you need to do because we know best. Our constituents know better how to act and how to relate to corporations than Washington.

Donnelly says, "Donnelly (D-IN)"

Reference: Shareholder Vote on Executive Compensation Act; Bill H R 1257 ; vote number 2007-244 on Apr 20, 2007

Screen imports & ban lead in children's products.

Donnelly 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.

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

Repeal ObamaCare reporting requirements for small business.

Donnelly co-sponsored Small Business Paperwork Mandate Elimination Act

A BILL To repeal the expansion of information reporting requirements for payments of $600 or more to corporations. Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted. [This is the first attempt at dismantling ObamaCare by pieces, as opposed to H.R. 2 which dismantles ObamaCare in whole. The proposed section of the ObamaCare law to be repealed appears below. --OnTheIssues editor].

Source: HR144&HR4 11-HR004 on Jan 12, 2011

Rated 86% by UFCW, indicating an anti-management/pro-labor record.

Donnelly scores 86% 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.

    The UFCW House scorecard is based on these key votes:
  1. (+) Extension of Trade Adjustment Assistance (TAA)
  2. (+) H. Am. 877 Bishop Am. to HR 3094, penalties for lawsuits against unionization
  3. (+) H. Am. 880 Jackson-Lee Am. to HR 3094, preventing delays in union votes
  4. (-) Middle Class Tax Relief and Job Creation Act, freezing public salaries
  5. (-) Regulation from the Executive in Need of Scrutiny (REINS) Act, for less corporate regulation
  6. (-) Repealing the Job-Killing Health Care Law Act
  7. (-) Workforce Democracy and Fairness Act, letting CEOs fire union organizers
Source: UFCW website 12-UFCW-H on May 2, 2012

Other candidates on Corporations: Joe Donnelly on other issues:
IN Gubernatorial:
Mike Pence
IN Senatorial:
Daniel Coats

IN politicians
IN Archives

Retiring in 2014 election:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
NE:Johanns(R)
SD:Johnson(D)
WV:Rockefeller(D)

Retired as of Jan. 2013:
AZ:Kyl(R)
CT:Lieberman(D)
HI:Akaka(D)
ME:Snowe(R)
ND:Conrad(D)
NE:Nelson(D)
NM:Bingaman(D)
TX:Hutchison(R)
VA:Webb(D)
WI:Kohl(D)
Senate Vacancies 2013:
HI:Inouye(D,Deceased)
HI:Schatz(D,Appointed)
MA:Kerry(D,Resigned)
MA:Cowan(D,Appointed)
MA:Markey(D,elected)
MA:Gomez(R,lost special election)
NJ:Lautenberg(D,Deceased)
NJ:Chiesa(R,Appointed)
NJ:Booker(D,running)
NJ:Lonegan(R,running)
SC:DeMint(R,Resigned)
SC:Scott(R,Appointed)

Senate races Nov. 2014:
AK:Begich(D) vs.Miller(R) vs.Treadwell(R) vs.Sullivan(R)
AL:Sessions(R) vs.Bright(D)
AR:Pryor(D) vs.Cotton(R)
CO:Udall(D) vs.Buck(R) vs.Hill(R) vs.Baumgardner(R) vs.Stephens(R)
DE:Coons(D) vs.O`Donnell(R)
GA:Gingrey(R) vs.Nunn(D) vs.Perdue(R) vs.Handel(R) vs.Broun(R) vs.Kingston(R)
HI:Schatz(D) vs.Hanabusa(D) vs.Cavasso(R)
IA:Braley(D) vs.Whitaker(R) vs.Ernst(R) vs.Clovis(R)
ID:Risch(R) vs.LaRocco(D)
IL:Durbin(D) vs.Truax(R) vs.Oberweis(R) vs.Hansen(L)
KS:Roberts(R) vs.Tiahrt(R)
KY:McConnell(R) vs.Bevin(R) vs.Grimes(D)
LA:Landrieu(D) vs.Cassidy(R) vs.Maness(R)
ME:Collins(R) vs.D`Amboise(R) vs.Bellows(D)
MI:Land(R) vs.Peters(D) vs.Wiedenhoeft(R)
MN:Franken(D) vs.Abeler(R)
MS:Cochran(R) vs.McDaniel(R) vs.Childers(D)
MT:Edmunds(R) vs.Daines(R) vs.Bohlinger(D) vs.Walsh(D)
NC:Hagan(D) vs.Tillis(R)
NE:Sasse(R) vs.Osborn(R) vs.Stenberg(R)
NH:Shaheen(D) vs.Martin(R) vs.Brown(R) vs.Smith(R) vs.Rubens(R) vs.Testerman(R)
NM:Udall(D) vs.Sanchez(R)
OK:Inhofe(R) vs.Silverstein(D)
OR:Merkley(D) vs.Conger(R)
RI:Reed(D) vs.Carcieri(R)
SC-2:Scott(R) vs.Wade(D)
SC-6:Graham(R) vs.Stamper(D) vs.Mace(R) vs.Bright(R)
SD:Rounds(R) vs.Weiland(D) vs.Pressler(I)
TN:Alexander(R) vs.Carr(R)
TX:Cornyn(R) vs.Stockman(R) vs.Roland(L)
VA:Warner(D) vs.McDonnell(R) vs.Radtke(R)
WV:Capito(R) vs.Raese(R) vs.Tennant(D) vs.McGeehan(R)
WY:Enzi(R) vs.Cheney(R)
Abortion
Budget/Economy
Civil Rights
Corporations
Crime
Drugs
Education
Energy/Oil
Environment
Families
Foreign Policy
Free Trade
Govt. Reform
Gun Control
Health Care
Homeland Security
Immigration
Jobs
Principles
Social Security
Tax Reform
Technology
War/Peace
Welfare

Other Senators
Senate Votes (analysis)
Bill Sponsorships
Affiliations
Policy Reports
Group Ratings

Contact info:
Campaign website:
www.joeforindiana.com
Email Contact Form
Mailing Address:
P.O. Box 891, Indianapolis, IN 46206
Official Website
Web contact in lieu of EMail

Page last updated: Dec 23, 2013