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Tom Carper on Budget & Economy

Democratic Sr Senator (DE)

 


Let competition work instead of capping credit card interest

[In October 1987, a House] amendment would have limited the allowable interest rate on all U.S. credit cards to 15%. A 1978 Supreme Court ruling had rendered state-level interest rate caps useless, allowing lenders to charge 40% or more in some states.

With a healthy 257-177 advantage, House Democrats had the numbers to force the federal cap through. But Democrats on the House Banking Committee wanted no part of significantly depressing credit card profits, having struck down this amendment almost unanimously in committee.

One young Democrat from Delaware stepped forward to urge a no vote. His name was Tom Carper. "The bill before us without this amendment is a good bill," Carper said. "But I think it's premature to try to make that point. We can do a lot of good things with this legislation and a free enterprise competitive system. Let's let that competition work."

Source: The Intercept on 2018 Delaware Senate race , Aug 22, 2018

Criticizes ‘Splurging Away' Surplus

Carper pledged to protect Social Security and Medicare; pay down the debt; lower taxes responsibly; and invest in education and health. He contrasted these priorities with Bill Roth's tax package, which splurges the entire surplus, and asked Roth to debate the issue.
    Carper's "four point plan" for federal budget management would:
  1. Make Social Security and Medicare sound for the long term by putting the surpluses in an ironclad lock box. Use savings from debt-reduction to extend the program's solvency.
  2. Work to pay off our national debt. Long-term savings on interest payments will help secure Medicare and can be invested in our schools and for our seniors.
  3. Use half of the remaining surplus for broad-based tax reductions, including responsible marriage-penalty and estate tax relief.
  4. Invest in our future by improving public education; expanding health care for our children and families; extending prescription drug benefits to our seniors and increasing access to child care.
Source: Press Release, "Criticizes ‘Splurging Away' Surplus" , Aug 24, 2000

CC:No Balanced Budget Constitutional Amendment.

Carper opposes the CC survey question on Balanced Budget Amendment

The Christian Coalition Voter Guide inferred whether candidates agree or disagree with the statement, 'Passage of a Balanced Budget Amendment to the U.S. Constitution' Christian Coalition's self-description: "Christian Voter Guide is a clearing-house for traditional, pro-family voter guides. We do not create voter guides, nor do we interview or endorse candidates."

Source: Christian Coalition Survey 18CC-20 on Jul 1, 2018

Voted YES on $900 billion COVID relief package.

Carper voted YEA Consolidated Appropriations Act (COVID Relief bill)

NPR summary of HR133:

Argument in opposition: Rep. Alex Mooney (R-WV-2) said after voting against H.R. 133: `Congress voted to spend another $2.3 trillion [$900 billion for COVID relief], which will grow our national debt to about $29 trillion. The federal government will again have to borrow money from nations like China. This massive debt is being passed on to our children and grandchildren. With multiple vaccines on the way thanks to President Trump and Operation Warp Speed, we do not need to pile on so much additional debt. Now is the time to safely reopen our schools and our economy. HR133 was another 5593-page bill put together behind closed doors and released moments prior to the vote.`

Legislative outcome: Passed House 327-85-18, Roll #250, on Dec. 21. 2020; Passed Senate 92-6-2, Roll #289, on Dec. 21; signed by President Trump on Dec 27 [after asking for an increase from $600 to $2,000 per person, which was introduced as a separate vote].

Source: Congressional vote 20-HR133 on Jan 15, 2020

$1.9 trillion ARPA bill for COVID relief.

Carper voted YEA American Rescue Plan Act

This bill provides additional relief to address the continued impact of COVID-19 on the economy, public health, state and local governments, individuals, and businesses:

Rep. Kevin McCarthy in OPPOSITION (3/11/21): The so-called American Rescue Plan imposed a $1.9 trillion new burden on American families. Despite being branded as `COVID relief,` only 9% of funds in this bill actually goes to defeating the virus, and almost half of the money, including more than 95% of the education funds, will not be spent until 2022 or later. After a year of struggle and sacrifice, students and parents get no answer to the vital question of when they can expect schools to reopen full time. President Biden wants Americans to believe `help is on the way.` But under this bill, it isn`t; waste is.

Biden Administration in SUPPORT (2/26/21): ARPA provides the tools and support critical to tackle the urgent public health and economic crises the Nation faces as a result of COVID-19. The bill also provides eligible Americans with a $1,400 payment in addition to the $600 payment provided in December of 2020. The bill also extends key emergency unemployment benefits, and raises the minimum wage to $15 per hour.

Legislative Outcome: Passed House 219-212-1 on 2/27/21; passed Senate 50-49-1 on 3/6/21; signed by President on 3/11/21.

Source: Congressional vote 21-HR1319 on Feb 27, 2021

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