Information about the vote from special interest groups and other information providers in our Report Cards:
Associated Builders and Contractors
To Provide Tax Incentives for Economic Recovery.
The House passed H.R. 3090, to provide tax incentives for economic recovery.Public Citizen Congress Watch
Economic Stimulus.
This vote was on a $100 billion economic stimulus package (H.R. 3090) designed by Republican leaders mainly to benefit corporate interests. Only $16 billion of the $100 billion total would benefit low and moderate-income taxpayers and unemployed workers. The bill’s major costs were huge corporate tax breaks that included: elimination of the alternative minimum tax for businesses retroactive to 1986, a doubling of the amount companies may write off against income for new equipment bought in the next three years from 15% to 30%, and permanent extension of a provision allowing many of the largest multinational corporations to defer taxes on overseas profits.
Passed.AFL-CIO
ECONOMIC STIMULUS—H.R. 3090.
The economic aftershocks of the Sept. 11 terrorist attacks on the United States, combined with the Bush recession, resulted in the lay-offs of hundreds of thousands of workers. This group and other working family advocates backed an economic stimulus plan to extend, expand and improve unemployment insurance benefits to help families make up for lost income; to help laid-off workers maintain or acquire health insurance; to provide funds to enable state unemployment systems to meet the surge in claims; and to provide help to the business community.
But House Republican leaders and President George W. Bush supported a stimulus plan that focused on huge tax breaks for the wealthy and corporations. H.R. 3090called for spending $162 billion over the next 10 years to pay for those additional tax cuts for large corporations and wealthy individuals.The only worker relief proposals were a $9 billion unemployment insurance block grant program and a $3 billion health care block grant program that did not guarantee any assistance to laid-off workers and their families. The bill passed.
Americans for Democratic Action
HR 3090. Economic Stimulus.
Passage of the Republican version of the post- September 11 economic stimulus package. The bill would grant businesses and individuals $99.5 billion in federal tax cuts in fiscal 2002, and a total of $159.4 billion in reductions over 10 years. Additionally, the bill would allow more individuals to receive tax rebates for 2000, accelerate a reduction of the 27 percent tax bracket to 25 percent, lower the capital gains tax rate from 20 percent to 18 percent and eliminate the corporate alternative minimum tax. Also, the legislation would provide $3 billion to states for health insurance for the unemployed. Passed.U.S. Chamber of Commerce
Economic Security And Recovery Act.
The U.S. Chamber strongly supported the Economic Security and Recovery Act, which would have helped jumpstart the economy after the September 11 terrorist attacks. The bill passed the House. Provisions of H.R. 3090 included a reduction of taxes on businesses, such as the repeal of the corporate alternative minimum tax, the acceleration of depreciation, increased expensing. The measure also amends Subpart F to make permanent provisions that place U.S. financial services firms on a more level playing field with foreign competitors. The bill provided a comprehensive plan balancing the need to stimulate consumption in the short-run while encouraging increased business investment and productivity growth in the long run. Despite House action, the Senate did not consider economic stimulus legislation in 2001.
American Association of University Women
Economic Stimulus.
The House bill designed to revive the slowing economy—the Economic Security and Recovery Act of 2001, HR 3090—accelerates President Bush’s $1.3 trillion tax cut plan enacted earlier in 2001 but fails to invest any new resources into the economy. Also, under HR 3090, corporations receive large tax breaks through the elimination of the corporate minimum tax. For example, IBM would receive a tax break of $1.4 billion; GM would receive a tax break of $833 million; and GE would receive a tax break of $671 million.
This provider opposed HR 3090 because it contains new, permanent, and non-stimulative tax breaks for businesses and the wealthy without expanding unemployment and health benefits for unemployed workers. This provider believes an economic stimulus plan should ensure access to health care and unemployment insurance and should include subsidizing COBRA premiums; providing temporary assistance to state-based health care through Medicaid; making part-time workers eligible for unemployment insurance; and expanding unemployment insurance benefits, including using the most recent months of earnings when determining unemployment insurance eligibility. The House passed the act.
Republican Liberty Caucus (Economic Liberty)
Economic Stimulus Package.
To reduce taxes, mostly by accelerating the lowering of rates and eliminating the corporate alternative minimum tax.Taxpayers for Common Sense Action
The Economic Stimulus Package.
Intended to provide economic stimulus to a faltering economy, this measure was passed only six weeks after the September 11th terrorist attacks. Rather than develop a consensus bill favored by Secretary of the Treasury Paul O’Neill and many other bipartisan leaders, the House passed a measure costing in excess of $100 billion in fiscal year 2002 and a total of $162 billion over ten years.
Weighted heavily in favor of tax reductions, the measure reduced the capital gains tax and permanently repealed the corporate Alternative Minimum Tax (AMT). The massive tax cuts signed into law earlier in the year coupled with the $40 billion emergency supplemental was adequate stimulus and no further spending or tax cuts were necessary.
The House passed the economic stimulus.
Citizens Against Government Waste
H.R. 3090: Economic Stimulus - Passage.
The House passed the bill to grant $159.4 billion in reductions over 10 years for businesses and individuals.National Hispanic Leadership
Economic Security and Recovery Act of 2001, H.R. 3090.
Sponsored by Representative Bill Thomas (R-CA). This bill was designed to stimulate a slowing economy via corporate tax cuts, including a permanent repeal of the corporate alternative minimum tax and a permanent reduction in capital gains taxes, as well as acceleration of individual tax rate reductions for those in higher income brackets.
According to group members, the bill instituted a huge tax break for wealthy individuals and corporations with little assistance for working families. Bill passed.International Union, UAW
House Passes Outrageous Economic Stimulus Package.
After the September 11th terrorist attacks, House GOP leaders created an outrageous economic stimulus package that provided $100 billion in tax cuts for corporations and the rich, while providing very little assistance to laid-off workers. The UAW and the rest of the labor movement urged Representatives to reject this GOP package, and instead to support a Democratic alternative that would have provided $55 billion in unemployment insurance and health care benefits for laid-off workers, along with tax rebates targeted at low-income
workers. But the House rejected this pro-worker alternative, and went on to pass the GOP economic stimulus package on a mostly partly line vote.Children's Defense Fund Action Council
Economic Stimulus.
Passage of the bill would grant $99.5 billion in federal tax cuts in fiscal 2002, and a total $159.4 billion in reductions over 10 years, for businesses and individuals. The bill would allow more individuals to receive immediate $300 and $600 refunds, accelerate a reduction of the 27 percent tax bracket to 25 percent, and lower the capital gains tax rate. It also would eliminate the alternative minimum tax for businesses, allow them to offset income over the last five years with current losses, and allow them to deduct more in depreciation costs. The bill would provide $3 billion to states for health insurance for the unemployed.
The deteriorating economic conditions in 2001 were particularly harsh on low-income workers as unemployment increased and families struggled to support their children and meet food, housing, health care and other expenses. Further, many laid off low-wage workers were ineligible for Unemployment Insurance (UI). Rather than helping low-income working families with children by extending UI to additional laid-off workers, as proposed in the Act to Leave No Child Behind (H.R. 1990/S. 940), this bill would provide another round of major tax cuts for wealthy individuals and for large corporations.
The John Birch Society
HR 3090: Economic Stimulus.
Includes tax cuts for
individuals and businesses over a 10-year period; a small
step toward reducing overtaxation! Passed. Savings: $156.4 BillionDemocrats.com
To Provide Tax Incentives for Economic Recovery.
A three-year, $212 billion tax cut primarily for big corporations and the
wealthy, which included tax rebates for corporations which paid no taxes -
including $250 million for Enron.Business and Professional Women/USA
To Provide Tax Incentives for Economic Recovery.
The House passed the Economic Security and Recovery Act of 2001, accelerating President Bush’s $1.3 trillion tax cut plan and providing significant tax cuts to large corporations.
This group opposed the House stimulus bill because it offered tax breaks to large corporations without expanding unemployment and health benefits for unemployed workers.
Eagle Forum
Economic Security and Recovery Act of 2001.
Passage of the Economic Security and Recovery Act of 2001 (H.R. 3090) providing individual and business tax cuts to stimulate the economy. Bill passed the House.