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 amendmentwould permanently extend the temporary moratorium on earmarks that is currentlyscheduled to expire at the end of 2012. NTU has long called for a permanent banon earmarks, which contribute to the unsustainable growth of government andfurther erode the public’s already low confidence in how their tax dollars arebeing spent.
- Vote “YES” on Amendment 1477. Sponsored by Sen. Thune (R-SD), this amendment mirrorsthe House-passed “Access to Capital for Job Creators Act” that NTU hasendorsed. Sen. Thune’s proposal would eliminate the current ban against generalsolicitation to allow startups to use “crowdfunding” and other capitalformation techniques to help launch their ideas.
- Vote “YES” on Amendment 1471. Introduced by Sen. McCain (R-AZ), this amendment would prohibit FannieMae and Freddie Mac executives from receiving bonuses as long as the companiesremain in federal conservatorship. Despite the fact that the two mortgagegiants 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. Amendment1471 is a common-sense measure to help restore a modicum of trust in Washingtonas many taxpayer struggle with the consequences of unwise federal housing policies.
- Vote “YES” on Amendment 1473. Sponsoredby Sen. Coburn (R-OK), this amendment would require each bill to contain ananalysis by the Congressional Research Service determining whether it wouldduplicate an existing federal activity. Given the Congressional Budget Office’sestimate that the deficit will once again exceed $1 trillion, leaders should belooking harder than ever for ways to eliminate overlapping programs.
- Vote “YES” on Amendment 1485. Introduced by Sen. Paul (R-KY), this amendment wouldbuild upon the underlying foundation of S. 2038 by expanding the reportingrequirement 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