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Vote Alert

NTU urges "YES" votes on the following S. 2038, "Stop Trading on Congressional Knowledge" Amendments

February 2, 2012

In the debate over S. 2038, the “Stop Trading on Congressional Knowledge” (STOCK) Act, numerous amendments will be offered, many of which involve fiscal matters.  At this point in the process we commend your attention to the following items; other Vote Alerts on S. 2038 may follow:

  • Vote “YES” on Amendment 1472. Introduced by Sen. Toomey (R-PA), this amendment would permanently extend the temporary moratorium on earmarks that is currently scheduled to expire at the end of 2012. NTU has long called for a permanent ban on earmarks, which contribute to the unsustainable growth of government and further erode the public’s already low confidence in how their tax dollars are being spent.
  • Vote “YES” on Amendment 1477. Sponsored by Sen. Thune (R-SD), this amendment mirrors the House-passed “Access to Capital for Job Creators Act” that NTU has endorsed. Sen. Thune’s proposal would eliminate the current ban against general solicitation to allow startups to use “crowdfunding” and other capital formation techniques to help launch their ideas.
  • Vote “YES” on Amendment 1471. Introduced by Sen. McCain (R-AZ), this amendment would prohibit Fannie Mae and Freddie Mac executives from receiving bonuses as long as the companies remain in federal conservatorship. Despite the fact that the two mortgage giants have received taxpayer-funded bailouts, now in excess of $140 billion, the companies paid out $12.79 million in bonuses to top executives in 2011. Amendment 1471 is a common-sense measure to help restore a modicum of trust in Washington as many taxpayer struggle with the consequences of unwise federal housing policies.
  •  Vote “YES” on Amendment 1473.  Sponsored by Sen. Coburn (R-OK), this amendment would require each bill to contain an analysis by the Congressional Research Service determining whether it would duplicate an existing federal activity. Given the Congressional Budget Office’s estimate that the deficit will once again exceed $1 trillion, leaders should be looking harder than ever for ways to eliminate overlapping programs.
  • Vote “YES” on Amendment 1485. Introduced by Sen. Paul (R-KY), this amendment would build upon the underlying foundation of S. 2038 by expanding the reporting requirement for applicable transactions to federal employees, the President, Vice President, and employees of the U.S. Postal Service.

Roll call votes on the aforementioned amendments will be significantly weighted in our annual Rating of Congress.

If you have any questions, please contact NTU Federal Government Affairs Manager Brandon Greife at (703) 683-5700