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Quico Canseco on Budget & Economy

 

 


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:
[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.

Reference: The HAMP Termination Act; Bill H.839 ; vote number 11-HV198 on Mar 29, 2011

Demand a Balanced Budget amendment.

Canseco signed the Contract From America

The Contract from America, clause 3. Demand a Balanced Budget:

Begin the Constitutional amendment process to require a balanced budget with a two-thirds majority needed for any tax hike.

Source: The Contract From America 10-CFA03 on Jul 8, 2010

Limit federal spending growth to per-capita inflation rate.

Canseco signed the Contract From America

The Contract from America, clause 6. End Runaway Government Spending:

Impose a statutory cap limiting the annual growth in total federal spending to the sum of the inflation rate plus the percentage of population growth.

Source: The Contract From America 10-CFA06 on Jul 8, 2010

Member of House Banking Committee.

Canseco is a member of the House Banking Committee

The House Committee on Financial Services (also referred to as the House Banking Committee) is the committee of the House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators.

Source: U.S. House of Representatives website, www.house.gov 11-HC-FS on Feb 3, 2011

Proposing a balanced budget amendment to the US Constitution.

Canseco signed Balanced Budget Amendment

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.

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

Apply all remaining stimulus funds to budget deficit.

Canseco co-sponsored RESET Act

A BILL: To rescind unobligated stimulus funds and require that such funds be used for Federal budget deficit reduction. This Act may be cited as the "Recovering Excessive Stimulus Expenditures for Taxpayers (RESET) Act."

Source: HR620/S391 11-HR0620 on Feb 17, 2011

Disapprove of increasing the debt limit.

Canseco 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

2016-17 Governor, House and Senate candidates on Budget & Economy: Quico Canseco on other issues:
TX Gubernatorial:
Andrew White
Annise Parker
David Dewhurst
George P. Bush
Greg Abbott
Julian Castro
Kathie Glass
Lupe Valdez
Mike Rawlings
Rick Perry
TX Senatorial:
Beto O`Rourke
David Alameel
Emily Sanchez
Jon Roland
Steve Stockman
Ted Cruz

Special elections in 2017-18:
AZ-8:Franks(R, resigned in sex scandal)
AZ-8:Lesko(R, elected April 24, 2018)
CA-34:Becerra(D; appointed CA Atty General)
CA-34:Gomez(D; elected June 6, 2017)
CA-34:Ahn(D; lost primary)
GA-6:Price(R; appointed HHS Secretary)
GA-6:Handel(R; elected June 20)
GA-6:Ossoff(D; lost election June 20, 2017)
KS-4:Pompeo(R; appointed CIA Director)
KS-4:Estes(R; elected April 11)
MT-0:Zinke(R; appointed DOI Secretary)
MT-0:Gianforte(R; elected May 25)
OH-12:Tiberi(R, resigned to become a lobbyist)
OH-12:Balderson(R, elected Aug. 24, 2018)
PA-18:Murphy(R, resigned in sex scandal)
PA-18:Lamb(D; elected April 2018)
SC-5:Mulvaney(R; appointed OMB Director)
SC-5:Norman(R; elected June 20)
TX-27:Farenthold(R, resigned in sex scandal)
TX-27:Cloud(R, elected June 30, 2018)
UT-3:Chaffetz(R, resigned for unexplained reasons)
UT-3:Curtis(R, elected Nov. 7, 2017)
Retirements as of January 2019 (Republicans):
AZ-2:Martha McSally
CA-49:Darrell Issa
FL-6:Ron DeSantis
FL-15:Dennis Ross
FL-17:Tom Rooney
FL-27:Ileana Ros-Lehtinen
ID-1:Raul Labrador
IN-4:Todd Rokita
IN-6:Luke Messer
KS-2:Lynn Jenkins
MI-11:Dave Trott
MS-3:Gregg Harper
NH-1:Carol Shea-Porter
NJ-2:Frank LoBiondo
NJ-11:Rodney Frelinghuysen
NM-2:Steve Pearce
NY-27:Chris Collins
NC-9:Robert Pittenger
ND-0:Kevin Cramer
OH-16:Jim Renacci
OK-1:Jim Bridenstine
PA-6:Ryan Costello
PA-7:Pat Meehan
PA-9:Bill Shuster
PA-11:Lou Barletta
PA-15:Charlie Dent
PA-18:Tim Murphy
SC-1:Mark Sanford
SC-4:Trey Gowdy
SC-5:Mick Mulvaney
SD-0:Kristi Noem
TN-2:Jimmy Duncan
TN-6:Diane Black
TN-7:Marsha Blackburn
TX-2:Ted PoeTX02'>2
TX-3:Sam Johnson
TX-5:Jeb Hensarling
TX-6:Joe Barton
TX-21:Lamar Smith
TX-27:Blake Farenthold
UT-3:Jason Chaffetz
VA-5:Tom Garrett
VA-6:Bob Goodlatte
WA-8:Dave Reichert
WV-3:Evan Jenkins
WI-1:Paul Ryan
Retirements as of January 2019 (Democrats):
AZ-9:Kyrsten Sinema
CO-2:Jared Polis
CT-5:Elizabeth Esty
HI-1:Colleen Hanabusa
IL-4:Luis Gutierrez
MD-6:John Delaney
MA-3:Niki Tsongas
MI-9:Sander Levin
MN-1:Tim Walz
MN-5:Keith Ellison
MN-8:Rick Nolan
NV-3:Jacky Rosen
NV-4:Ruben Kihuen
NM-1:Michelle Lujan-Grisham
PA-1:Bob Brady
TX-16:Beto O'Rourke
TX-29:Gene Green

Challengers for November 2018 (Democrats):
DE-0:Rochester(D)
KY-6:McGrath(D)
MA-7:Pressley(D)
MI-13:Brenda Jones
MI-13:Rashida Tlaib

Challengers for November 2018 (Republicans):
CA-49:Rocky Chavez
HI-1:Cam Cavasso
ID-1:Russ Fulcher
NV-3:Danny Tarkanian
OH-12:Troy Balderson
PA-14:Rick Saccone
PA-16:Lloyd Smucker
PA-18:Rick Saccone
SC-4:Lee Bright
SC-5:Pope(R)
TX-27:Michael Cloud
UT-3:John Curtis
WA-8:Dino Rossi
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Vacancies for November 2018 election:
MI-13:Conyers(D, resigned in sex scandal)
NY-25:Slaughter(D, deceased March 2018)
OK-1:Bridenstine(R; resigned to head NASA)
PA-7:Meehan(R, resigned in sex scandal)
PA-15:Dent(R; resigned May 2018)


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Page last updated: Aug 28, 2018