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Eric Cantor on Corporations

Republican Representative (VA-7)


I'm first and foremost a small businessperson

Like my grandmother before me, I was then, and consider myself to this day, first and foremost a small businessperson. My first business was in real estate development and I learned the lesson that far too many small businessmen and -women learn when they try to be job creators: the process is tough, and the bureaucracy made it tougher.

For anyone with a background in business, Washington DC can be a frustrating, even infuriating place. Talk about disconnected from the realities of creating and maintaining jobs (if you're not using the taxpayer money to do it, that is). In 2009, since 1900, the current administration has the least private sector experience of all the presidential administrations studied.

Source: Young Guns, by Reps. Ryan, Cantor & McCarthy, p. 33-34 , Sep 14, 2010

Threat of taxes & regulation deters business & jobs

Small businessmen and -women tell me virtually every day that the threat of increased taxes, regulations, and government mandates are deterrents to business expansion and job growth. And they know of what they speak. During its first fifteen months, the Obama administration has considered more than one hundred separate regulations that would cost the economy--including small businesses--more than one million dollars each. Do you know any small businesses that can handle this type of crippling loss? Of course not.

For our economy to grow and create jobs, Washington needs to repeal any government regulation that will impose an economic cost, trigger job losses, or disproportionately impact small businesses. Our rule should be, first, do no harm!

Source: Young Guns, by Reps. Ryan, Cantor & McCarthy, p. 71-72 , Sep 14, 2010

Voted YES on workforce training by state block grants & industry partners.

Congressional Summary: Opponent's Argument for voting No:
    National League of Cities op-ed, "H.R. 803 fails because it would:"
  1. Undermine the local delivery system that has been the cornerstone of job training programs
  2. Establish a program that is based on political boundaries (states) rather than on economic regions and local labor markets, or the naturally evolving areas in which workers find paying work
  3. Eliminate a strong role for local elected officials but require that they continue to be fiscally liable for funds spent in their local areas
  4. Change what was once a program targeted to those most in need--economically disadvantaged adults and youth and special population groups like veterans, migrant farm workers, and low income seniors--into a block grant to governors
  5. Contribute to the emerging division between those American's who have the requisite skills to find employment and those who do not.
Reference: SKILLS Act; Bill H.R. 803 ; vote number 13-HV075 on Mar 15, 2013

Voted NO 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.

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.

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 replacing illegal export tax breaks with $140B in new breaks.

Vote to pass a bill that would repeal an export tax break for U.S. manufacturers ruled an illegal trade subsidy by the World Trade Organization, while providing for about $140 billion in new corporate tax cuts. Revenue raising offsets would decrease the cost of the bill to $34.4 billion over 11 years. It would consist of a buyout for tobacco farmers that could not go over $9.6 billion. It also would allow the IRS to hire private collection agencies to get back money from taxpayers, and require individuals who claim a tax deduction for a charitable donation of a vehicle to obtain an independent appraisal of the car.
Reference: American Jobs Creation Act; Bill HR 4520 ; vote number 2004-259 on Jun 17, 2004

Voted YES on Bankruptcy Overhaul requiring partial debt repayment.

Vote to pass a bill that would make it easier for courts to change debtors from Chapter 7 bankruptcy, which allows most debts to be dismissed, to Chapter 13, which requires a repayment plan.
Reference: Bill sponsored by Gekas, R-PA; Bill HR 333 ; vote number 2001-25 on Mar 1, 2001

Rated 100% by the US COC, indicating a pro-business voting record.

Cantor scores 100% 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

Rated 17% by UFCW, indicating a pro-management voting record.

Cantor scores 17% 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

2012 Governor, House and Senate candidates on Corporations: Eric Cantor on other issues:
VA Gubernatorial:
Bob McDonnell
Ken Cuccinelli
Terry McAuliffe
VA Senatorial:
Mark Warner
Tim Kaine



Lame-duck session 2012:
KY-4: Thomas Massie(R)
MI-11:Dave Curson(D)
NJ-9: Donald Payne Jr.(D)
WA-1: Suzan DelBene(D)

Re-seated Former Reps:
AZ-1: Ann Kirkpatrick(D)
AZ-5: Matt Salmon(R)
FL-8: Alan Grayson(D)
IL-11:Bill Foster(D)
NH-1: Carol Shea-Porter(D)
NV-3: Dina Titus(D)
NY-24:Dan Maffei(D)
TX-36:Steve Stockman(R)

2013 Resignations and Replacements:
AL-1:Jo Bonner(R,resigned)
IL-2:Jesse Louis Jackson(D,resigned)
IL-2:Robin Kelly(D)
MA-5:Ed Markey(D,to Senate)
MA-8:Stephen Lynch(D)
MO-8:Jo Ann Emerson(R,resigned)
MO-8:Jason Smith(R,elected June 2013)
SC-1:Tim Scott(R,resigned)
SC-1:Mark Sanford(R)
SC-1:Elizabeth Colbert-Busch(D)
Newly-elected Democrats:
AZ-9: Kyrsten Sinema
CA-2: Jared Huffman
CA-7: Ami Bera
CA-15:Eric Swalwell
CA-24:Julia Brownley
CA-29:Tony Cardenas
CA-35:Gloria Negrete McLeod
CA-36:Raul Ruiz
CA-41:Mark Takano
CA-47:Alan Lowenthal
CA-51:Juan Vargas
CA-52:Scott Peters
CT-5: Elizabeth Esty
FL-18:Patrick Murphy
FL-22:Lois Frankel
FL-26:Joe Garcia
HI-2: Tulsi Gabbard
IL-8: Tammy Duckworth
IL-10:Brad Schneider
IL-12:Bill Enyart
IL-17:Cheri Bustos
MD-6: John Delaney
MA-4: Joe Kennedy III
MI-5: Dan Kildee
MN-8: Rick Nolan
NV-4: Steven Horsford
NH-2: Annie Kuster
NM-1: Michelle Lujan-Grisham
NY-5: Grace Meng
NY-10:Hakeem Jeffries
NY-18:Sean Maloney
OH-10:Joyce Beatty
PA-17:Matt Cartwright
TX-16:Beto O`Rourke
TX-20:Joaquin Castro
TX-23:Pete Gallego
TX-33:Marc Veasey
TX-34:Filemon Vela
WA-6: Derek Kilmer
WA-10:Denny Heck
WI-2: Mark Pocan
Newly-elected Republicans:
AR-4: Tom Cotton
CA-1: Doug LaMalfa
CA-21:David Valadao
CA-41:Paul Cook
FL-3: Ted Yoho
FL-6: Ron DeSantis
FL-19:Trey Radel
GA-9: Doug Collins
IL-15:Rodney Davis
IN-2: Jackie Walorski
IN-5: Susan Brooks
IN-6: Luke Messer
KY-6: Andy Barr
MI-11:Kerry Bentivolio
MO-2: Ann Wagner
MT-0: Steve Daines
NY-26:Chris Collins
NC-8: Richard Hudson
NC-9: Robert Pittenger
NC-11:Mark Meadows
NC-13:George Holding
ND-0: Kevin Cramer
OH-2: Brad Wenstrup
OH-14:Dave Joyce
OK-1: Jim Bridenstine
OK-2: Markwayne Mullin
PA-4: Scott Perry
PA-12:Keith Rothfus
SC-7: Tom Rice
TX-14:Randy Weber
TX-25:Roger Williams
UT-2: Chris Stewart
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Page last updated: Jun 17, 2013