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John Neely Kennedy on Corporations

Democratic Senate Challenger (LA)

 


Disallow bank getting so big that its failure wrecks economy

Both candidates offered differing views of how to ease the national economic crisis. Kennedy said federal officials should suspend accounting rules that financial industry representatives blame for exacerbating the problems. He said Congress should put limits on the nation’s banks and lending firms. “Never again can we allow a financial institution to get so big that its failure can wreck our economy,” he said.
Source: Associated Press on NOLA.com on 2008 Louisiana Senate Debate , Oct 16, 2008

25% tax credit for companies hiring new workers

If I’m your next United States Senator, I’ll give businesses-all businesses, small and large- 25% of the federal income taxes paid each year by new hires. This federal income tax rebate would apply to net new jobs only. To qualify, a business would not have to be in an enterprise zone. It would not have be in a “cluster.” It would not have to fill out hundreds of pages of government forms. All the business would have to do would be to create a new job. Similar programs have worked at the state level. This labor-based subsidy will not cost the federal treasury a penny, because it would only apply to new jobs that would not otherwise be created, and specific safeguards can be added to the legislation to ensure that that is so.
Source: 2004 Senate campaign website, www.johnkennedy.com, “Issues” , Oct 20, 2004

Regulatory relief for smaller banks stimulates growth.

Kennedy 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

Supports letting businesses disagree with same-sex marriage.

Kennedy supports the AFA survey question on same-sex discrimination

The American Family Association Action Voter Guide asked if candidates agree or disagree with the statement, 'I support legislation such as the First Amendment Defense Act (FADA) that would prohibit discrimination against individuals, organizations and sThe American Family Association Action Voter Guide asked if candidates agree or disagree with the statement, 'I support legislation such as the First Amendment Defense Act (FADA) that would prohibit discrimination against individuals, organizations and small businesses because of their belief that marriage is only a union of one man and one woman.' American Family Association Action (AFA Action) produces the online "iVoterGuide" for selected state and federal races. The mission of AFA Action is to inform and mobilize individuals to strengthen the biblical foundations of America.

Source: American Family Association survey 16AFA_Q3A on Nov 8, 2016

Reduce corporate tax rates from 35% to 21% to create jobs.

Kennedy voted YEA 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

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    Page last updated: Nov 04, 2021