Voted NO on reforming bankruptcy to include means-testing & restrictions.
Amends Federal bankruptcy law to revamp guidelines governing dismissal or conversion of a Chapter 7 liquidation (complete relief in bankruptcy) to one under either Chapter 11 (Reorganization) or Chapter 13 (Adjustment of Debts of an Individual with Regular Income). Voting YES would:
Declare a debtor eligible only for Chapter 13, as anyone financially capable of paying back their creditors at a rate that still allows them to earn above their state's median income
Place domestic support obligations such as child support and alimony amongst the first priority claim category of non-dischargeable debts on a debtor filing for bankruptcy
Require debtors to pay for and attend credit counseling prior to filing for bankruptcy
Cap home equity protection at $125,000 if the debtor purchased a house within 40 months of filing for bankruptcy.
Reference: Bankruptcy Abuse Prevention and Consumer Protection Act of 2005;
Bill S 256
; vote number 2005-44
on Mar 10, 2005
Voted NO on restricting rules on personal bankruptcy.
Vote to pass a bill that would require debtors able to repay $10,000 or 25 percent of their debts over five years to file under Chapter 13 bankruptcy (reorganization and repayment) rather than Chapter 7 (full discharge of debt).
Reference:
Bill HR 333
; vote number 2001-236
on Jul 17, 2001
Expand microloans to small businesses.
Harkin co-sponsored the Microloan Program Improvement Act
Amends provisions of the Small Business Act concerning the Microloan program (a program of start-up loans to small businesses) to:
remove the requirement that such loans be short-term;
allow up to 35 (currently 25) percent of grant funds made to intermediaries to be used to provide technical assistance to small businesses that are prospective borrowers under the program; and
authorize the Administrator of the Small Business Administration to use up to $1 million of the annual appropriations for technical assistance grants to subcontract with one or more national trade associations of eligible intermediaries or other knowledgeable entities to provide peer-to-peer capacity building and training to lenders and organizations seeking to become lenders under the program.
Source: Bill sponsored by 19 Senators 01-S174 on Jan 24, 2001
Rated 32% by the US COC, indicating an anti-business voting record.
Harkin scores 32% by US Chamber of Commerce on business policy
Whether you own a business, represent one, lead a corporate office, or manage an association, the Chamber of Commerce of the United States of AmericaSM provides you with a voice of experience and influence in Washington, D.C., and around the globe.
Our members include businesses of all sizes and sectors—from large Fortune 500 companies to home-based, one-person operations. In fact, 96% of our membership encompasses businesses with fewer than 100 employees.
Mission Statement:
"To advance human progress through an economic, political and social system based on individual freedom, incentive, initiative, opportunity, and responsibility."
The ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position.
Harkin co-sponsored screening imports & ban lead in children's products
A bill to reform the Consumer Product Safety Commission to provide greater protection for children's products, to improve the screening of non-compliant consumer products, to improve the effectiveness of consumer product recall programs, and for other purposes.
Requires third party certification of, and provides for tracking and record keeping regarding, children's products.
[Increase] reporting of substantial product hazards and corrective action plans.
Requires certain manufacturers or distributors to post an escrow or proof of insurance to cover recalls.
Allows enforcement by state attorneys general and provides public and private sector whistleblower protections.
Bans children's products containing lead and lowers the allowable lead content in paint.
Requires a study of preventable injuries and deaths of minority children related to consumer products.
Requires a cost-benefit analysis under the Poison Prevention Packaging Act.
Requires development of a risk assessment methodology regarding imports.
Requires publication of a list of product defects that constitute a substantial product hazard.
Conditions importation of a consumer product on the manufacturer's compliance with inspection and record keeping requirements.
Requires a database on violations of consumer product safety rules to be used to determine whether a container being imported contains consumer products that are in violation of a consumer product safety standard and whether action should be taken under imported products provisions.
House version is H.R.4040.
Source: CPSC Reform Act (S.2663) 08-S2663 on Feb 25, 2008
