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Jim Renacci on Budget & Economy

 

 


Obama federal stimulus was a failed experiment

Q: Support federal spending as a means of promoting economic growth?

Sherrod Brown (D): Yes. Introduced $30 billion loan fund to help smaller manufacturers transition to clean energy economy.

Jim Renacci (R): Mostly no. Called Obama stimulus "a failed experiment," though supports Trump infrastructure plan.

Source: 2018 CampusElect.org Issue Guide on Ohio Senate race , Oct 9, 2018

Voted YES on prioritizing spending in case debt limit is reached.

Congressional Summary:Requires the Secretary of the Treasury, in addition to any other authority provided by law, to issue obligations to pay with legal tender, and solely for the purpose of paying, the principal and interest on U.S. obligations held by the public, or held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund, in the event that the federal debt reaches the statutory limit after enactment of this Act. Prohibits the issued obligations from being taken into account in applying the current $16.394 trillion public debt limit to the extent that they would otherwise cause such limit to be exceeded.

Opponent's Argument for voting No:Rep. MAFFEI: The American people want us to work together--Republicans and Democrats--to reduce our debt, pay our bills, and avoid an economic catastrophe, which would result from default. This legislation presumes it will happen and maps out not if but what happens when the United States defaults. Their plan ensures that foreign creditors such as China, Japan, and OPEC countries Iran and Saudi Arabia would continue to get paid while we halt other payments to groups of Americans who have earned those benefits. This bill prioritizes Chinese lenders ahead of American seniors and veterans and college students. That's why it's called the Pay China First Act.

White House statement in opposition:American families do not get to choose which bills to pay and which ones not to pay, and the United States Congress cannot either without putting the nation into default for the first time in its history. This bill would threaten the full faith and credit of the United States, cost American jobs, hurt businesses of all sizes and do damage to the economy. It would cause the nation to default on payments for Medicare, veterans, national security and many other critical priorities. This legislation is unwise, unworkable, and unacceptably risky."

Reference: Full Faith and Credit Act; Bill H R 807 ; vote number 13-HV807 on May 9, 2013

Voted YES on terminating the Home Affordable mortgage Program.

Congressional Summary: Amends the Emergency Economic Stabilization Act of 2008 to terminate providing new mortgage modification assistance under the Home Affordable Modification Program (HAMP), except with respect to existing obligations on behalf of homeowners already extended an offer to participate in the program.

Proponent's Argument for voting Yes:
[Rep. Biggert, R-IL]: The HAMP Termination Act would put an end to the poster child for failed Federal foreclosure programs. The program has languished for 2 years, hurt hundreds of thousands of homeowners, and must come to an end. This bill would save $1.4 billion over 10 years. To date, the HAMP program has already consumed $840 million of the more than $30 billion of TARP funds that were set aside for the program. For this extraordinary investment, the administration predicted that 3 to 4 million homeowners would receive help. HAMP has hurt more homeowners than it has helped. The program has completed about 540,000 mortgage modifications. Another 740,000 unlucky homeowners had their modifications cancelled.

Opponent's Argument for voting No:
[Rep. Capuano, D-MA]: This is a program that I'm the first to admit has not lived up to what our hopes were. This program we had hoped would help several million people. Thus far we've only helped about 550,000 people. But to simply repeal all of these programs is to walk away from individual homeowners, walk away from neighborhoods. I'm not going to defend every single aspect of this program, and I am happy to work with anyone to make it better, to help more people to keep their homes, & keep their families together. To simply walk away without offering an alternative means we don't care; this Congress doesn't care if you lose your home, period. Now, I understand if that makes me a bleeding-heart liberal according to some people, so be it.

Reference: The HAMP Termination Act; Bill H.839 ; vote number 11-HV198 on Mar 29, 2011

Demand a Balanced Budget amendment.

Renacci signed the Contract From America

The Contract from America, clause 3. Demand a Balanced Budget:

Begin the Constitutional amendment process to require a balanced budget with a two-thirds majority needed for any tax hike.

Source: The Contract From America 10-CFA03 on Jul 8, 2010

Limit federal spending growth to per-capita inflation rate.

Renacci signed the Contract From America

The Contract from America, clause 6. End Runaway Government Spending:

Impose a statutory cap limiting the annual growth in total federal spending to the sum of the inflation rate plus the percentage of population growth.

Source: The Contract From America 10-CFA06 on Jul 8, 2010

Member of House Banking Committee.

Renacci is a member of the House Banking Committee

The House Committee on Financial Services (also referred to as the House Banking Committee) is the committee of the House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators.

Source: U.S. House of Representatives website, www.house.gov 11-HC-FS on Feb 3, 2011

Other governors on Budget & Economy: Jim Renacci on other issues:
OH Gubernatorial:
Betty Sutton
Connie Pillich
Dennis Kucinich
Joe Schiavoni
John Cranley
John Kasich
Jon Husted
Marcia Fudge
Mary Taylor
Mike DeWine
Nan Whaley
Richard Cordray
Tim Ryan
OH Senatorial:
Mike Gibbons
P.G. Sittenfeld
Rob Portman
Sherrod Brown
Ted Strickland
Gubernatorial Debates 2021:
CA Recall:
S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Former U.S.Rep Doug Ose(R)
Laura Smith(R)
vs.Former Olympian Caitlyn Jenner(? R)
NJ: Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
vs.GOP Hair Doug Steinhardt(R)
VA: Incumbent Ralph Northam(D,term-limited)
vs.Former Governor Terry McAuliffe(D)
vs.CEO Glenn Youngkin(R)
vs.A.G. Mark Herring(D)
vs.State Sen. Amanda Chase(I)
vs.Lt. Gov. Justin Fairfax(D)
vs.State Rep. Jennifer Carroll Foy(D)
vs.State Rep. Lee Carter(D)
vs.State Sen. Jennifer McClellan(D)
vs.State Rep. Kirk Cox(R)
vs.CEO Pete Snyder(R)

Gubernatorial Debates 2022:
AK: Incumbent Mike Dunleavy(R)
vs.Bill Walker(? D)
vs.Al Gross(? I)
AL: Incumbent Kay Ivey(R)
(no prospective opponents yet)
AR: Incumbent Asa Hutchinson(R,term-limited)
vs.Trump Adviser Sarah Huckabee Sanders(R)
vs.A.G. Leslie Rutledge(R)
vs.Ricky Dale Harrington(L)
vs.Anthony Bland(D)
AZ: Incumbent Doug Ducey(R,term-limited)
vs.Paul Gosar(? R)
Mayor Marco Lopez(D)
vs.Former news anchor Kari Lake(R)
vs.Secretary of State Katie Hobbs(D)
vs.State Treasurer Kimberly Yee(R)
CA: Incumbent Gavin Newsom(D)
vs.S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Antonio Villaraigosa(? D)
CO: Incumbent Jared Polis(D)
vs.Mayor Greg Lopez(R)
CT: Incumbent Ned Lamont(D)
vs.Bob Stefanowski(? R)
FL: Incumbent Ron DeSantis(R)
vs.Former Gov.Charlie Crist(D)
vs.Rep.Stephanie Murphy(? D)
vs.Agriculture Commissioner Nikki Fried(D)
GA: Incumbent Brian Kemp(R)
vs.Minority Leader Stacey Abrams(D)
vs.Senate candidate Shane Hazel(L)
vs.State Rep.Vernon Jones(R)
vs.2020 candidate Kandiss Taylor(R)
HI: Incumbent David Ige(D,term-limited)
vs.Rep. Tulsi Gabbard(? D)
vs.Marissa Kerns(R)
IA: Incumbent Kim Reynolds(R)
vs.U.S.Rep. Cindy Axne(? R)
ID: Incumbent Brad Little(R)
vs.Raul Labrador(R)
vs.Lt. Gov. Janice McGeachin(R)
IL: Incumbent J.B. Pritzker(D)
vs.State Sen.Darren Bailey(R)
KS: Incumbent Laura Kelly(D)
vs.Jeff Colyer(R)
vs.State Sen.Derek Schmidt(R)
Gubernatorial Debates 2022 (continued):
MA: Incumbent Charlie Baker(R)
vs.Lt.Gov.Karyn Polito(R)
vs.State Rep. Geoff Diehl(R)
vs.Harvard Professor Danielle Allen(D)
vs.State Sen.Ben Downing(D)
MD: Incumbent Larry Hogan(R,term-limited)
vs.State Rep. Robin Ficker(R)
vs.State Rep. Peter Franchot(D)
vs.State Del.Kelly M. Schulz(R)
vs.Secretary John B. King(D)
vs.Obama administration Ashwani Jain(D)
vs.State attorney-general Doug Gansler(D)
vs.Secretary of Commerce Kelly Schulz(R)
vs.County executive Rushern Baker(D)
ME: Incumbent Janet Mills(D)
vs.Former Gov. Paul LePage(R)
MI: Incumbent Gretchen Whitmer(D)
vs.Chief James Craig(R)
MN: Incumbent Tim Walz(DFL)
vs.Mayor Mike Murphy(R)
vs.State Sen.Scott Jensen(R)
NE: Incumbent Pete Ricketts(R,term-limited)
vs.U.S.Senator Bob Krist(R)
vs.Chuck Herbster(R)
NH: Incumbent Chris Sununu(R)
vs.Dan Feltes(D)
vs.Kelly Ayotte(? R)
NM: Incumbent Michelle Lujan Grisham(D)
vs.Commissioner Jay Block(R)
NV: Incumbent Steve Sisolak(D)
vs.A.G.Adam Laxalt(R)
vs.U.S.Rep. Mark Amodei(? R)
vs.North Las Vegas Mayor John Lee(R)
NY: Incumbent Andrew Cuomo(D)
vs.Lt.Gov.Kathy Hochul(D)
vs.Rob Astorino(R)
vs.Andrew Giuliani(R)
vs.US.Rep.Lee Zeldin(R)
OH: Incumbent Mike DeWine(R)
vs.Former Rep.Jim Renacci(R)
vs.Dayton Mayor Nan Whaley(D)
vs.Mayor John Cranley(D)
OK: Incumbent Kevin Stitt(R)
vs.State Sen. Ervin Yen(R)
OR: Incumbent Kate Brown(D,term-limited)
vs.Gov. nominee Bud Pierce(R)
vs.Paul Romero(R)
PA: Incumbent Tom Wolf(D,term-limited)
vs.U.S.Rep. Lou Barletta(R)
vs.Commissioner Joe Gale(R)
vs.A.G.Josh Shapiro(D)
RI: Incumbent Gina Raimondo(D,to Cabinet)
vs.Gov. Dan McKee(D)
vs.Secy.Matt Brown(? D)
vs.Mayor Allan Fung(R)
vs.Luis-Daniel Munoz(D)
vs.RI Secretary of State Nellie Gorbea(D)
SC: Incumbent Henry McMaster(R)
vs.State Rep. James Emerson Smith(? D)
vs.US.Rep.Joe Cunningham(D)
vs.State senator Mia McLeod(D)
SD: Incumbent Kristi Noem(R)
vs.State Rep. Billie Sutton(? D)
TN: Incumbent Bill Lee(R)
vs.Senate nominee Marquita Bradshaw(? D)
TX: Incumbent Greg Abbott(R)
vs.Chad Prather(R)
vs.State Sen.Don Huffines(R)
vs.U.S.Rep. Allen West(R)
VT: Incumbent Phil Scott(R)
(no prospective opponents yet)
WI: Incumbent Tony Evers(D)
vs.CEO Jonathan Wichmann(R)
WY: Incumbent Mark Gordon(R)
vs.Minority Leader Chris Rothfuss(? D)

Gubernatorial Debates 2023:
KY: Incumbent Andy Beshear(D)
vs.Former Gov. Matt Bevin(? R)
Senator Rand Paul(? R)
LA: Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
MS: Incumbent Tate Reeves(R)
(no prospective opponents yet)
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Page last updated: Jul 07, 2021