WASHINGTON — Here’s how area members of Congress voted on major issues in the week ending April 15.
HOUSE
REGULATORY RELIEF FOR COMMUNITY BANKS
Voting 247 for and 171 against, the House on April 14 passed a bill (HR 3791) that would grant relief from a Federal Reserve rule on debt-to-equity ratios to small bank and savings-and-loan holding companies. The rule is designed to prevent excessive “leveraging” by these community banks, which could lead to insolvencies and taxpayer bailouts. Starting in mid-May, the rule will apply to bank and savings-and-loan holding companies with consolidated assets of more than $1 billion. This bill would raise the threshold to $5 billion, granting relief to an estimated 400 community banks.
Voting yes: Martha McSally, R-2, Paul Gosar, R-4, Matt Salmon, R-5, David Schweikert, R-6, Trent Franks, R-8
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Voting no: Ann Kirkpatrick, D-1, Raul Grijalva, D-3, Ruben Gallego, D-7, Kyrsten Sinema, D-9
BROADBAND RULES, NET NEUTRALITY
Voting 241 for and 173 against, the House on April 15 passed a GOP-sponsored bill (HR 2666) that would permanently bar the Federal Communications Commission from regulating rates charged by internet service providers under its rules to preserve “net neutrality.”
The FCC has disavowed internet rate-regulation. But this bill, the agency said, would interfere with its actions to prevent providers from setting data limits, charging fees to prioritize service levels, blocking or throttling transmissions, and taking other steps that would violate net neutrality.
A yes vote was to send the bill to the Senate.
Voting yes: McSally, Gosar, Salmon, Schweikert, Franks, Sinema
Voting no: Kirkpatrick, Grijalva, Gallego
PUBLIC DISCLOSURES ON CAMPAIGN ADS
Voting 179 for and 231 against, the House on April 15 defeated an amendment to HR 2666 (above) that sought to improve the process by which television stations submit information on sponsors of campaign ads to the Federal Communications Commission. The FCC eventually posts this information online in cumbersome “public inspection files.” This amendment sought to require stations to transmit the data to the FCC in machine-readable formats that can be quickly scanned online.
A yes vote was to achieve more timely and transparent FCC posting of data on TV stations’ campaign ads.
Voting yes: Kirkpatrick, Grijalva, Gallego, Sinema
Voting no: McSally, Gosar, Salmon, Schweikert, Franks
BANKING SERVICES TO UNDERSERVED COMMUNITIES
By a vote of 165 for and 253 against, the House on April 14 defeated a motion that would prevent banks from taking advantage of HR 3791 (above) unless they commit to lending practices that serve qualified minority, low-income, rural and otherwise underserved borrowers.
A yes vote was to adopt the Democratic motion.
Voting yes: Kirkpatrick, Grijalva, Gallego
Voting no: McSally, Gosar, Salmon, Schweikert, Franks, Sinema
CONGRESSIONAL CONTROL OF FINANCIAL REGULATION
Voting 239 for and 179 against, the House on April 14 passed a GOP-drafted bill (HR 3340) that would subject the budgets of the Financial Stability Oversight Council and Office of Financial Research to congressional appropriations and thus to congressional control. Established by the 2010 Dodd-Frank law as independent units in the Treasury Department, these agencies are charged with spotting and preventing systemic risks that could devastate the economy.
For example, the oversight council determines when large financial firms threaten to become “too big to fail” and thus potential candidates for taxpayer bailouts.
The two agencies are now funded by assessments on banks and nonbank financial institutions.
A yes vote was to send the bill to the Senate.
Voting yes: McSally, Gosar, Salmon, Schweikert, Franks
Voting no: Kirkpatrick, Grijalva, Gallego, Sinema
FUNDING GLOBAL FOOD SECURITY
Voting 370 for and 33 against, the House on April 12 passed a bipartisan bill (HR 1567) that would authorize $1 billion in fiscal 2016 for U.S. food-security programs abroad, with an emphasis on expanding agricultural production and economic growth, reducing hunger and poverty and improving dietary nutrition — especially for women and children — in poor countries.
A yes vote was to send the bill to the Senate.
Voting yes: Kirkpatrick, McSally, Salmon, Schweikert, Gallego, Franks, Sinema
SENATE
FEDERAL AVIATION PROGRAMS
Voting 94 for and four against, the Senate on April 14 advanced a bill (HR 636) that would authorize a budget of $33.3 billion through September 2017 for a wide range of federal aviation programs. In part, the bill would fund capital improvements at hundreds of airports; upgrade security at airports, fund air-traffic control; subsidize passenger service to smaller cities; begin regulation of drones and extend renewable-energy tax breaks that are unrelated to aviation.
A yes vote was to continue debate on the bill.
Voting yes: John McCain, R, Jeff Flake, R
