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
- 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