Tim Griffin on Budget & Economy
Voted YES on prioritizing spending in case debt limit is reached.
Congressional Summary:Requires the Secretary of the Treasury, in addition to any other authority provided by law, to issue obligations to pay with legal tender, and solely for the purpose of paying, the principal and interest on U.S. obligations held by the public, or held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund, in the event that the federal debt reaches the statutory limit after enactment of this Act. Prohibits the issued obligations from being taken into account in applying the current $16.394 trillion public debt limit to the extent that they would otherwise cause such limit to be exceeded.
Opponent's Argument for voting No:Rep. MAFFEI: The American people want us to work together--Republicans and Democrats--to reduce our debt, pay our bills, and avoid an economic catastrophe, which would result from default. This legislation presumes it will happen and maps out not if but what happens when the
United States defaults. Their plan ensures that foreign creditors such as China, Japan, and OPEC countries Iran and Saudi Arabia would continue to get paid while we halt other payments to groups of Americans who have earned those benefits. This bill prioritizes Chinese lenders ahead of American seniors and veterans and college students. That's why it's called the Pay China First Act.
White House statement in opposition:American families do not get to choose which bills to pay and which ones not to pay, and the United States Congress cannot either without putting the nation into default for the first time in its history. This bill would threaten the full faith and credit of the United States, cost American jobs, hurt businesses of all sizes and do damage to the economy. It would cause the nation to default on payments for Medicare, veterans, national security and many other critical priorities. This legislation is unwise, unworkable, and unacceptably risky."
Reference: Full Faith and Credit Act;
Bill H R 807
; vote number 13-HV807
on May 9, 2013
Voted YES on terminating the Home Affordable mortgage Program.
Congressional Summary: Amends the Emergency Economic Stabilization Act of 2008 to terminate providing new mortgage modification assistance under the Home Affordable Modification Program (HAMP), except with respect to existing obligations on behalf of homeowners already extended an offer to participate in the program.
Proponent's Argument for voting Yes:
[Rep. Biggert, R-IL]: The HAMP Termination Act would put an end to the poster child for failed Federal foreclosure programs. The program has languished for 2 years, hurt hundreds of thousands of homeowners, and must come to an end. This bill would save $1.4 billion over 10 years. To date, the HAMP program has already consumed $840 million of the more than $30 billion of TARP funds that were set aside for the program. For this extraordinary investment, the administration predicted that 3 to 4 million homeowners would receive help.
HAMP has hurt more homeowners than it has helped. The program has completed about 540,000 mortgage modifications. Another 740,000 unlucky homeowners had their modifications cancelled.
Opponent's Argument for voting No:
Reference: The HAMP Termination Act;
; vote number 11-HV198
on Mar 29, 2011
[Rep. Capuano, D-MA]: This is a program that I'm the first to admit has not lived up to what our hopes were. This program we had hoped would help several million people. Thus far we've only helped about 550,000 people. But to simply repeal all of these programs is to walk away from individual homeowners, walk away from neighborhoods. I'm not going to defend every single aspect of this program, and I am happy to work with anyone to make it better, to help more people to keep their homes, & keep their families together. To simply walk away without offering an alternative means we don't care; this Congress doesn't care if you lose your home, period. Now, I understand if that makes me a bleeding-heart liberal according to some people, so be it.
Proposing a balanced budget amendment to the US Constitution.
Griffin signed Balanced Budget Amendment
Proposing a balanced budget amendment to the Constitution of the United States:
RESOLVED by the Senate and House of Representatives of the United States of America in Congress assembled (2/3rds of each House concurring therein), That the article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of 3/4ths of the several States within 7 years after the date of its submission for ratification.
- Prohibits outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a 3/5ths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.
- Requires a 3/5ths rollcall vote of each chamber to increase the public debt limit.
- Directs the President to submit a balanced budget to Congress annually.
- Prohibits any bill to increase revenue from becoming law unless approved by a majority of each chamber by rollcall vote.
- Authorizes waivers of these provisions when a declaration of war is in effect or under other specified circumstances involving military conflict.
This article shall take effect beginning with the later of the second fiscal year beginning after its ratification or the first fiscal year beginning after December 31, 2016.
Source: H.J.Res.2 11-HJRES2 on Jan 5, 2011
Disapprove of increasing the debt limit.
Griffin co-sponsored Joint Resolution on Debt Limit
Congressional Summary:JOINT RESOLUTION: Resolved by the Senate and House of Representatives: That Congress disapproves of the President's exercise of authority to increase the debt limit, as submitted on Jan. 12, 2012.
Congressional Vote:Vote #4 in the House: 239 Yeas; 176 Nays; Senate declined to vote on the Resolution.
OnTheIssues Explanation: On Jan. 12, 2012, Pres. Obama notified Congress of his intent to raise the nation's debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action. Congress then had 15 days to say no before the debt ceiling is automatically raised from $15.2 trillion to $16.4 trillion. Hence the debt ceiling was increased.
In Aug. 2011, the US government was nearly shut down by an impasse over raising the debt ceiling; under an agreement reached then, the President could raise the debt limit in three increments while also implementing $2.4 trillion in budget cuts. The agreement also gave Congress the option of voting to block each of the debt-ceiling increases by passing a "resolution of disapproval." The House disapproved; the Senate, by declining to vote in the 15-day window, killed the Resolution. Even if the resolution were passed, Pres. Obama could veto it; which could be overridden by a 2/3 majority in the House and Senate. The House vote only had 57% approval, not enough for the 67% override requirement, so the Senate vote became moot. The same set of actions occurred in Sept. 2011 for the first debt ceiling increase.
Source: HJRes.98/SJRes34 12-HJR98 on Jan 13, 2012
Audit the Federal Reserve & its actions on mortgage loans.
Griffin co-sponsored Federal Reserve Transparency Act
The Federal Reserve Transparency Act directs:
- the completion, within 12 months, the audit of the Federal Reserve System and of the Federal Reserve Banks; with a detailed report of audit findings and conclusions.
- Audit and report on the loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Federal Reserve against supervised financial institutions.
- Prescribes audit contents, including:
Source: H.R.24&S.209 13-HR0024 on Jan 3, 2013
- the guidance given by the Federal Reserve to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews,
- the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews, and
- the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner as well as the level and type of remediation offered.
- Click here for definitions & background information
on Budget & Economy.
- Click here for a summary of all issue stances
of Tim Griffin.
- Click here for a Wikipedia profile
of Tim Griffin.
- Click here for a Ballotpedia profile
of Tim Griffin.
- Click here for VoteMatch responses
by Tim Griffin.
- Click here for issue positions of
other AR politicians.
- Click here for
AR primary archives.
- Click here for
AR secondary archives.
Other governors on Budget & Economy:
Tim Griffin on other issues:
Ricky Dale Harrington
Sarah Huckabee Sanders
Ricky Dale Harrington
Gubernatorial Debates 2021:
vs.Former Gov. nominee John Cox(R)
vs.Former U.S.Rep Doug Ose(R)
vs.Former Olympian Caitlyn Jenner(R)
vs.Radio Host Larry Elder(R)
Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
vs.GOP Chair Doug Steinhardt(R)
Incumbent Ralph Northam(D,term-limited)
vs.Former Governor Terry McAuliffe(D)
vs.CEO Glenn Youngkin(R)
A.G. Mark Herring(D)
State Sen. Amanda Chase(I)
Lt. Gov. Justin Fairfax(D)
State Rep. Jennifer Carroll Foy(D)
State Rep. Lee Carter(D)
State Sen. Jennifer McClellan(D)
State Rep. Kirk Cox(R)
CEO Pete Snyder(R)
Gubernatorial Debates 2023:
Incumbent Andy Beshear(D)
vs.Former Gov. Matt Bevin(? R)
vs.Senator Rand Paul(? R)
vs.State Auditor Mike Harmon(R)
Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
Incumbent Tate Reeves(R)
Gubernatorial Debates 2022:
Incumbent Mike Dunleavy(R)
vs.State Rep. Chris Kurka(R)
Incumbent Kay Ivey(R)
vs.Stacy Lee George(R)
vs.Ambassador Lynda Blanchard(R)
vs.State Sen. Malika Sanders-Fortier(D)
vs.Challenger Tim James(R)
Incumbent Asa Hutchinson(R,term-limited)
vs.Trump Adviser Sarah Huckabee Sanders(R)
A.G. Leslie Rutledge(R,withdrew Nov.2021)
vs.Ricky Dale Harrington(L)
Incumbent Doug Ducey(R,term-limited)
Mayor Marco Lopez(D)
vs.Former news anchor Kari Lake(R)
vs.Secretary of State Katie Hobbs(D)
vs.State Treasurer Kimberly Yee(R)
vs.State Rep.Aaron Lieberman(D)
vs.Karrin Taylor Robson(R)
Incumbent Gavin Newsom(D)
vs.Former Gov. nominee John Cox(R)
vs.State Sen. Brian Dahle(R)
Incumbent Jared Polis(D)
vs.Mayor Greg Lopez(R)
Incumbent Ned Lamont(D)
vs.Bob Stefanowski(? R)
Incumbent Ron DeSantis(R)
vs.Former Gov.Charlie Crist(D)
vs.Agriculture Commissioner Nikki Fried(D)
Incumbent Brian Kemp(R)
vs.Minority Leader Stacey Abrams(D)
vs.Senate candidate Shane Hazel(L)
vs.State Rep.Vernon Jones(R)
vs.2020 candidate Kandiss Taylor(R)
vs.Senator David Perdue(R)
Incumbent David Ige(D,term-limited)
vs.State Rep.Kirk Caldwell(D)
Incumbent Kim Reynolds(R)
vs.State Rep.Ras Smith(D)
Incumbent Brad Little(R)
vs.Lt. Gov. Janice McGeachin(R)
Incumbent J.B. Pritzker(D)
vs.State Sen.Darren Bailey(R)
Incumbent Laura Kelly(D)
vs.State Sen.Derek Schmidt(R)
Gubernatorial Debates 2022 (continued):
Incumbent Charlie Baker(R)
vs.State Rep. Geoff Diehl(R)
vs.Harvard Professor Danielle Allen(D)
vs.State Sen.Ben Downing(D)
vs.State Sen.Sonia Chang-Diaz(D)
vs.A.G. Maura Healey(D)
Incumbent Larry Hogan(R,term-limited)
vs.State Del.Robin Ficker(R)
vs.State Del.Peter Franchot(D)
vs.State Del.Kelly M. Schulz(R)
vs.Secretary John B. King(D)
vs.State A.G. Doug Gansler(D)
vs.County Exec. Rushern Baker(D)
vs.Secretary Thomas Perez(D)
Incumbent Janet Mills(D)
vs.Former Gov. Paul LePage(R)
Incumbent Gretchen Whitmer(D)
vs.Chief James Craig(R)
vs.Police Chief Tudor Dixon(R)
vs.John E. James(? R)
Incumbent Tim Walz(DFL)
vs.Mayor Mike Murphy(R)
vs.State Sen.Scott Jensen(R)
Incumbent Pete Ricketts(R,term-limited)
vs.U.S.Senator Bob Krist(R)
vs.State Sen. Theresa Thibodeau(R)
Incumbent Chris Sununu(R)
Incumbent Michelle Lujan Grisham(D)
vs.Commissioner Jay Block(R)
vs.State Rep.Rebecca Dow(R)
Incumbent Steve Sisolak(D)
vs.North Las Vegas Mayor John Lee(R)
vs.Mayor Michele Fiore(R)
Incumbent Andrew Cuomo(D,resigned)
vs.Acting Gov.Kathy Hochul(D)
Attorney General Letitia James(D)
Incumbent Mike DeWine(R)
vs.Former Rep.Jim Renacci(R)
vs.Dayton Mayor Nan Whaley(D)
vs.Mayor John Cranley(D)
Incumbent Kevin Stitt(R)
vs.State Sen. Ervin Yen(R)
Incumbent Kate Brown(D,term-limited)
vs.Gov. nominee Bud Pierce(R)
vs.State Rep. Christine Drazan(R)
Incumbent Tom Wolf(D,term-limited)
vs.U.S.Rep. Lou Barletta(R)
vs.Commissioner Joe Gale(R)
vs.State Sen.Scott Martin(R)
vs.State Sen. Scott Martin(R)
vs.State Sen. Doug Mastriano(R)
Incumbent Gina Raimondo(D,to Cabinet)
vs.Gov. Dan McKee(D)
vs.Mayor Allan Fung(R ?)
vs.RI Secretary of State Nellie Gorbea(D)
Incumbent Henry McMaster(R)
vs.State senator Mia McLeod(D)
Incumbent Kristi Noem(R)
vs.State Rep. Billie Sutton(? D)
vs.Speaker Steven Haugaard(R)
Incumbent Bill Lee(R)
vs.J B Smiley(D)
Incumbent Greg Abbott(R)
vs.State Sen.Don Huffines(R)
vs.U.S.Rep. Allen West(R)
Incumbent Phil Scott(R)
(no prospective opponents yet)
Incumbent Tony Evers(D)
vs.CEO Jonathan Wichmann(R)
vs.State Rep. Timothy Ramthun(R)
Incumbent Mark Gordon(R)
vs.Minority Leader Chris Rothfuss(? D)
Office 1232 LHOB, Wash., DC 20515
Page last updated: May 19, 2022