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Chris Coons on Corporations

 

 


Citizens United was ill-decided & distorts political process

Q: What is your reaction to the recent Supreme Court ruling allowing corporations to donate to political campaigns?

COONS: The Citizens United decision was an unfortunate and ill-decided decision. One that opens the flood gates to increased corporate contributions that could have, as an unintended consequence of the decision, significantly distorting out electoral process. I would support reforms that further disclose who is behind these shadowy groups? Whether individuals, or corporations, that are trying to influence our elections by pouring money into it. Sunshine is the best disinfectant. And in politics it is best for us to disclose as fully and as broadly as possible who is making contributions.

O'DONNELL: And yet the legislative efforts to do exactly that has failed to do that. The Disclose Act, put out there to do just that, has exempted the major corporations from disclosing it. Instead, what these efforts do is only serve to infringe on the First Amendment right of private citizens.

Source: CNN's Wolf Blitzer moderating 2010 Delaware Senate debate , Oct 13, 2010

Rated 86% by UFCW, indicating an anti-management/pro-labor record.

Coons scores 86% by UFCW on labor-management issues

The United Food and Commercial Workers International Union (UFCW) is North America's Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.

    The UFCW Senate scorecard is based on these key votes:
  1. American Jobs Act (+)
  2. Balanced Budget Amendment (-)
  3. Rejecting Cut, Cap, and Balance (+)
  4. Repeal Health Care Law (-)
  5. Sen. Am. 14 Wicker Am. to S 223, excluding unionization at TSA (-)
  6. Sen. Am. 740 McCain Am. to HR 2112, defunding TAA (-)
  7. Trade Adjustment Assistance Extension Act (TAA) (+)
Source: UFCW website 12-UFCW-S on May 2, 2012

Regulatory relief for smaller banks stimulates growth.

Coons voted YEA Banking Bill

Congressional Summary:

Supporting press release from Rep. Tom Emmer (R-MN-6): This legislation will foster economic growth by providing relief to Main Street, tailor regulations for better efficacy, and most importantly it will empower individual Americans and give them more opportunity.

Opposing statement on ProPublica.org from Rep. Gregory Meeks (D-NY-5): The bill includes many provisions I support: minority-owned banks and credit unions in underserved communities have legitimate regulatory burden concerns. Unfortunately, exempting mortgage disclosures enacted to detect discriminatory practices will only assist the Trump Administration in its overall effort to curtail important civil rights regulations. I simply cannot vote for any proposal that would help this Administration chip away at laws that I and my colleagues worked so hard to enact and preserve.

Legislative outcome: Passed House 258-159-10 on May 22, 2018(Roll call 216); Passed Senate 67-31-2 on March 14, 2018(Roll call 54); Signed by President Trump. May 24, 2018

Source: Congressional vote 16-S2155 on Mar 14, 2018

Reducing tax rates balloons federal deficit & cuts programs.

Coons voted NAY Tax Cuts and Jobs Act

Summary by GovTrack.US: (Nov 16, 2017)

Case for voting YES by Heritage Foundation (12/19/17):This is the most sweeping update to the US tax code in more than 30 years. The bill would lower taxes on businesses and individuals and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy. The bill includes many pro-growth features, including a deep reduction in the corporate tax rate, a scaled-back state and local tax deduction, full expensing for five years, and lower individual tax rates.

Case for voting NO by Sierra Club (11/16/17): Republicans have passed a deeply regressive tax plan that will result in painful cuts to core domestic programs, to give billionaires and corporate polluters tax cuts while making American families pay the price. Among the worst provisions:

  • This plan balloons the federal deficit by over $1.5 trillion. Cutting taxes for the rich now means cuts to the federal budget and entitlements later.
  • The bill hampers the booming clean energy economy by ending tax credits for the purchase of electric vehicles and for wind and solar energy.
  • The bill opens up the Arctic Refuge to drilling, a thinly veiled giveaway to the fossil fuel industry.

    Legislative outcome: Passed House, 224-201-7, roll call #699 on 12/20; passed Senate 51-48-1, roll call #323 on 12/20; signed by Pres. Trump on 12/22.

    Source: Congressional vote 17-HR1 on Nov 16, 2017

    Restrict corporate use of consumer mandatory arbitration.

    Coons signed restricting corporate use of consumer mandatory arbitration

    Excerpts from Letter from 35 Senators to the CFPB: We write to commend the Consumer Financial Protection Bureau (CFPB) for its proposed rule to limit the use of mandatory, pre-dispute ("forced") arbitration clauses in consumer financial product and service contracts. Every day, Americans across the country are forced to sign away their constitutional right to access the courts as a condition of purchasing common products and services like credit cards, checking accounts, and private student loans. Binding arbitration is a privatized justice system that studies show consistently produces results that favor large corporations and offers no meaningful appeals process. As a result, consumers are left without redress, and companies are unaccountable for their unscrupulous behavior.

    Opposing freedom argument: (Cato Institute, "ATLA monopoly," May 2002): The trial lawyers new goal is to tighten their monopoly grip on the court system, and prevent the rest of us from choosing a more efficient means of resolving our disputes. Arbitration is simply private court. Lawyers with a vested interest in a monopoly court system are trying to stop the arbitration business from developing. But there's nothing forced or mandatory about it. Contracts are the result of choice. People should be free to choose for themselves what contracts to make and what rights to give up.

    Opposing economic argument: (Heritage Foundation, "The Unfair Attack on Arbitration," July 17, 2013): Any study by the Consumer Financial Protection Bureau should examine whether a limit on arbitration would:

    Source: Letter to CFPB Director 17LTR-CFPB on Aug 4, 2016

    Other candidates on Corporations: Chris Coons on other issues:
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    Page last updated: Oct 20, 2020