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Katie McGinty on Corporations

 

 


Support Consumer Financial Protection Bureau against banks

McGinty took issue with Toomey's efforts in Congress to change the oversight of the 5-year-old Consumer Financial Protection Bureau, a federal office created to protect consumers in financial dealings with banks. The agency is in the news after it levied its highest-ever fine on Wells Fargo bank last week. The bank said it will pay a $100 million fine over allegations its employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals.

"We're here to call on Pat Toomey to change his tune and for once stand with consumers instead of just with the big banks," McGinty said. "This is yet another instance where his loyalties remain with his colleagues and partners and employers in the big banks instead of his own constituents."

Asked about the bureau, Toomey said fraud can be prosecuted without inventing the agency, and he criticized its leadership structure as unusually unaccountable for such a powerful federal agency.

Source: The Morning Call on 2016 Pennsylvania Senate debate , Sep 12, 2016

Expand the reach of the corporate net income tax

All four candidates would expand the reach of the corporate net income tax by requiring combined reporting. McGinty would seek to impose a "reasonable" severance tax on natural gas extraction. Would seek to increase Pennsylvania's income-tax exemption to allow as many as 200,000 additional households to qualify for refunds or reductions, which are based on income and family size. Would seek to impose an excise tax on the sale of cigars and smokeless tobacco.
Source: Washington Times on 2014 Pennsylvania governor race , May 17, 2014

Other candidates on Corporations: Katie McGinty on other issues:
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Allyson Schwartz
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Page last updated: Oct 21, 2016