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Kirsten Gillibrand on Corporations

Democratic Jr Senator (NY)


Access to capital for small business will create jobs

Gillibrand says she doesn't think it's possible to tell how many jobs a politician has created, adding, "The number one thing we should be doing to create jobs in this state--in this country right now--is getting access to capital into our small businesses."

DioGuardi counters, "Not only did you not create jobs, we've lost many jobs. You've got to be aggressive about what you do to change that and one of the things is: we're in a toxic environment in this state--mainly because of your party."

Source: Fox News 23 coverage of 2010 N.Y. Senate debate , Oct 21, 2010

Nine years as Philip Morris defense counsel

Gillibrand has deliberately buried the pivotal role she chose to play in defending Philip Morris, the world's largest cigarette company, against charges of criminal perjury and fraud arising out of company executives' implausible testimony to Congress. This was made easier because in those days, before her marriage, she was known as Tina Rutnick.

Rutnick had her work cut out for her representing Big Tobacco. The big boys at Philip Morris claimed to have absolutely no knowledge of either the addictive or cancer-causing qualities of tobacco. Only one problem: Their own internal documents contradicted their claims. And Rutnick's efforts as an attorney helped them to keep incriminating documents from the prosecutors.

Those nine years of Gillibrand's career have been completely whitewashed from her biography. Amazingly, her pro-tobacco work never surfaced in her two congressional races; it wasn't until after she was appointed to the Senate that the information was disclosed.

Source: Take Back America, by Dick Morris, p.186-187 , Apr 13, 2010

Voted YES on allowing stockholder voting on executive compensation.

To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation [and as part of that process, fully disclosing executive compensation].

Proponents support voting YES because:

We should not deprive the public, the stockholders, from being able to do anything meaningful once they find out about scandalous levels of executive compensation or board compensation. Everyone talks about the corporate board as the remedy. But the board is often a part of the problem, being paid huge amounts of money for showing up once or twice a year at meetings.

Give the stockholders a meaningful remedy. Once you get the mandatory disclosure put in place by previous legislation, we are saying the stockholders should be allowed to have a referendum on that and not have a runaround by the board.

Opponents support voting NO because:

This vote is based on mischaracterization--it is an unnecessary amendment. The opportunity for these kinds of votes already exists within the structure of corporate governance right now. A good company from Georgia, AFLAC, went ahead and already has these nonbinding shareholder votes. But there is a difference between having individuals in the private sector, shareholders and individuals outside of the mandating of government to have it occur and have government come in with its heavy hand and say, this is exactly what you need to do because we know best. Our constituents know better how to act and how to relate to corporations than Washington.

Gillibrand says, "Gillibrand (D-NY)"

Reference: Shareholder Vote on Executive Compensation Act; Bill H R 1257 ; vote number 2007-244 on Apr 20, 2007

Screen imports & ban lead in children's products.

Gillibrand co-sponsored screening imports & ban lead in children's products

A bill to reform the Consumer Product Safety Commission to provide greater protection for children's products, to improve the screening of non-compliant consumer products, to improve the effectiveness of consumer product recall programs, and for other purposes.

House version is H.R.4040.
Source: CPSC Reform Act (S.2663) 08-S2663 on Feb 25, 2008

Expand lending caps for credit unions to small business.

Gillibrand co-sponsored Small Business Lending Enhancement Act

Congressional Summary:

Supporter's Comments: (by CUNA, a pro-credit union organization)
America's small businesses are the engine of growth of our nation's economy. The effects of the financial crisis of the past few years have spread to all types of lending, resulting in a reduction in the availability of business credit. At a time when banks are withdrawing credit from America's small businesses, credit unions have actually been expanding credit to small businesses, but with more credit unions approaching the cap, this growth is threatened. Congress should enact legislation which increases the credit union member business lending cap from 12.25% of assets to 27.5% for well-capitalized credit unions

Opponent's Comments: (by the Independent Community Banks of America, Nov. 15, 2012)
The tax-subsidized credit union industry is pressing for doubling the statutory cap Congress placed on member business loans. Shifting assets from tax-paying banks to tax-exempt credit unions would reduce tax revenue to the government; the CBO estimates the revenue impact at $354 million over 10 years. We believe that banks are currently meeting the needs of credit-worthy businesses, as substantiated by numerous business surveys.

Source: HR1418 /S2231 12-S2231 on Mar 22, 2012

Rated 83% by UFCW, indicating an anti-management/pro-labor record.

Gillibrand scores 83% 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

Other candidates on Corporations: Kirsten Gillibrand on other issues:
NY Gubernatorial:
Andrew Cuomo
Bill de Blasio
Howie Hawkins
Kathy Hochul
Mike Bloomberg
Rob Astorino
Zephyr Teachout
NY Senatorial:
Charles Schumer

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Page last updated: Aug 09, 2014