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Thom Tillis on Corporations
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Voted to roll back Dodd-Frank banking regulations
Q: Tighten or loosen regulation of banks and credit card companies?Thom Tillis: Loosen. Voted in favor of rolling back Dodd-Frank banking regulations. Says the CFPB needs more "oversight from Congress."
Cal Cunningham: Tighten. Early backer of Consumer Financial Protection Bureau. Address "tax loopholes that benefit corporations and the wealthy."
Source: CampusElect survey of 2020 North Carolina Senate race
, Sep 30, 2020
AdWatch: began working at 15; postponed college until later
Thom Tillis will begin running the second TV advertisement of his US Senate campaign, once again highlighting his business background. Unlike his first ad, Tillis does not name Democratic incumbent Kay Hagan in the spot. Rather, he references the "train
wreck in Washington."The 30-second spot is mainly biographical.
His commercial doesn't mention that he is in his second term as state House speaker, one of the two most influential legislative positions in the state. Rather, he mentions working as a
short-order cook at 15 and the fact he put off college until later in life, eventually rising to become a partner at IBM.
Democrats pounced on the omission of his legislative service in their response to the ad Thursday. "Tillis talks about
opportunity, but his record in the General Assembly, on which he has promised he will run, and his policy positions tell a much different story," said a spokeswoman for Hagan.
Source: WRAL-5 AdWatch on 2014 North Carolina Senate race
, Mar 6, 2014
Reduce the corporate income tax, to attract businesses to NC
Our Governor and the Democrat-controlled General Assembly seem content to approve tax increases that put a strain on individuals as well as large and small businesses, leaving them few options but to look for lower-cost places to live and work. I will
work to reduce the corporate income tax and to expand the state child tax credit for families with dependent children. I will support the Republican Caucus in our efforts to make N.C. one of the most attractive states to live and to base a business.
Source: 2012 State House campaign website, thomtillis.com, "Issues"
, Dec 31, 2012
Regulatory relief for smaller banks stimulates growth.
Tillis voted YEA Banking Bill
Congressional Summary:
Economic Growth, Regulatory Relief, and Consumer Protection Act- TITLE I--IMPROVING CONSUMER ACCESS TO MORTGAGE CREDIT: [for small banks,] requirements are waived if a loan is originated by and retained by the institution
- TITLE II--REGULATORY RELIEF AND PROTECTING CONSUMER ACCESS TO CREDIT: [deregulate] reciprocal deposits [if they] do not exceed 20% of its total liabilities.
- TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS
- TITLE IV--TAILORING REGULATIONS FOR CERTAIN BANK HOLDING COMPANIES
- TITLE V--ENCOURAGING CAPITAL FORMATION
- TITLE VI--PROTECTIONS FOR STUDENT BORROWERS
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
Reduce corporate tax rates from 35% to 21% to create jobs.
Tillis voted YEA Tax Cuts and Jobs Act
Summary by GovTrack.US: (Nov 16, 2017)
For Corporations:- Reduce the corporate tax rate to 21% from 35%.
- Overseas earnings would be taxed at 15.5% as opposed to the current 35%. This may seem like an enormous reduction, but current law only taxes overseas earnings if they are returned to the US; the 15.5% rate would apply regardless.
For Individuals:- Lower the rate for the highest earners from 39.6% to 37%.
- Nearly double the standard deductions for individuals but repeal personal exemptions.
- The Affordable Care Act's individual mandate would be repealed.
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
Tillis supports the AFA survey question on E-verify
The AFA inferred whether candidates agree or disagree with the statement, 'Employers should be required to use E-verify to confirm the eligibility of their employees to work in the United States'?
Self-description: (American Family Association helps produce iVoterGuides): "Grounded in God; rooted in research"; they "thoroughly investigate candidates"; when they cannot "evaluate with confidence, they receive an 'Insufficient' rating" (& we exclude)
Source: AFA Survey 20AFA-12D on Sep 11, 2020
Tillis supports the Christian Coalition survey question on the Death Tax
The Christian Coalition inferred whether candidates agree or disagree with the statement, 'Permanent Elimination of the "Death Tax" ?'
Self-description by Christian Coalition of America: "These guides help give voters a clear understanding of where candidates stand on important pro-family issues" for all Senate and Presidential candidates.
Source: CC Survey 20CC-11B on Sep 10, 2020
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Dan Forest
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Pat McCrory
Roy Cooper
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