Jim Risch on Corporations Republican Jr Senator; previously Governor

Jobs are created by private sector and not by government

A: As Idaho's Governor and Lt. Governor, my top priority was always quality jobs for hardworking families. As U.S. Senator, I continue this fight. Jobs are created by the private sector and not by the government. In recent years, the government has pursued policies that have slowed private sector job growth. Government regulations, higher taxes, and ObamaCare have cut the growth of the economy and the expansion of small businesses. As ranking member of the Small Business Committee, I fight successfully to change those policies.

No tax incentive for repatriation of overseas jobs

The Bring Jobs Home Act would have offered an incentive for bringing jobs back to America and eliminated the tax break received by American companies for sending jobs overseas. "I can imagine that Washington lobbyists and special interests are happy with Risch's vote," Mitchell said, "but Idahoans should be angry. Idaho jobs will continue to go overseas, and Idaho taxpayers will continue to foot the bill. That's just plain wrong. Idaho lost more than 18,000 jobs to China alone during one ten year period."

Mitchell pointed out that on his website, Risch claims to support job growth. "Maybe he means job growth in Asia," Mitchell said, "because that's what his vote yesterday does. It hurts job growth at home and promotes outsourcing of American jobs to China and elsewhere."

Reduce corporate tax; eliminate corporate capital gains tax

A: Yes.

Q: Would you vote to reduce or eliminate the corporate capital gains tax?

A: Yes.

Q: Would you vote for a permanent, strengthened R&D tax credit?

A: Yes.

Q: Would you vote against imposing “windfall profits” taxes on energy companies?

A: Yes.

Rated 14% by UFCW, indicating a pro-management voting record.

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 Senate scorecard is based on these key votes:
1. American Jobs Act (+)
2. Balanced Budget Amendment (-)
3. Rejecting Cut, Cap, and Balance (+)
4. Repeal Health Care Law (-)
5. Sen. Am. 14 Wicker Am. to S 223, excluding unionization at TSA (-)
6. Sen. Am. 740 McCain Am. to HR 2112, defunding TAA (-)
7. Trade Adjustment Assistance Extension Act (TAA) (+)

Regulatory relief for smaller banks stimulates growth.

Congressional Summary:

Economic Growth, Regulatory Relief, and Consumer Protection Act
• TITLE I--IMPROVING CONSUMER ACCESS TO MORTGAGE CREDIT: [for small banks,] requirements are waived if a loan is originated by and retained by the institution
• TITLE II--REGULATORY RELIEF AND PROTECTING CONSUMER ACCESS TO CREDIT: [deregulate] reciprocal deposits [if they] do not exceed 20% of its total liabilities.
• TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS
• TITLE IV--TAILORING REGULATIONS FOR CERTAIN BANK HOLDING COMPANIES
• TITLE V--ENCOURAGING CAPITAL FORMATION
• TITLE VI--PROTECTIONS FOR STUDENT BORROWERS

Supporting press release from Rep. Tom Emmer (R-MN-6): This legislation will foster economic growth by providing relief to Main Street, tailor regulations for better efficacy, and most importantly it will empower individual Americans and give them more opportunity.

Opposing statement on ProPublica.org from Rep. Gregory Meeks (D-NY-5): The bill includes many provisions I support: minority-owned banks and credit unions in underserved communities have legitimate regulatory burden concerns. Unfortunately, exempting mortgage disclosures enacted to detect discriminatory practices will only assist the Trump Administration in its overall effort to curtail important civil rights regulations. I simply cannot vote for any proposal that would help this Administration chip away at laws that I and my colleagues worked so hard to enact and preserve.

Legislative outcome: Passed House 258-159-10 on May 22, 2018(Roll call 216); Passed Senate 67-31-2 on March 14, 2018(Roll call 54); Signed by President Trump. May 24, 2018

Reduce corporate tax rates from 35% to 21% to create jobs.

Summary by GovTrack.US: (Nov 16, 2017)

For Corporations:
• Reduce the corporate tax rate to 21% from 35%.
• Overseas earnings would be taxed at 15.5% as opposed to the current 35%. This may seem like an enormous reduction, but current law only taxes overseas earnings if they are returned to the US; the 15.5% rate would apply regardless.

For Individuals:
• Lower the rate for the highest earners from 39.6% to 37%.
• Nearly double the standard deductions for individuals but repeal personal exemptions.
• The Affordable Care Act's individual mandate would be repealed.

Case for voting NO by Sierra Club (11/16/17): Republicans have passed a deeply regressive tax plan that will result in painful cuts to core domestic programs, to give billionaires and corporate polluters tax cuts while making American families pay the price. Among the worst provisions: