CLAIMS

FACTS

Announcer: Sherrod Brown’s been in office since 1975.  So who makes the best case against the Sherrod Brown of today?  It’s Sherrod Brown himself when he was younger.  Young Sherrod Brown was independent of Wall Street.  Today’s Sherrod Brown takes big money from those same corporate interests.

On Screen:  Today’s Sherrod Brown takes big corporate money [www.opensecrets.org]

Sen. Brown Introduced Legislation That Would Force The Largest Four Banks In The Country To Shrink.  In May 2012, The New York Times wrote “On Wednesday, Senator Sherrod Brown, Democrat of Ohio, introduced the Safe, Accountable, Fair and Efficient Banking Act, or SAFE Banking Act, which would force the largest four banks in the country to shrink.”  [New York Times, 5/10/12]

Sen. Brown Made A Bipartisan Call To Regulators For Stricter Capital Requirements For The Largest U.S. Banks.  In August 2012, The Wall Street Journal wrote “A conservative Republican and a liberal Democrat are urging regulators to hit the largest U.S. banks with stricter capital requirements than currently proposed, a clear sign that big banks have few friends on Capitol Hill when it comes to the issue. Regulators risk missing their chance to set up the right incentives for banks to remain of manageable size, Sens. David Vitter (R., La.) and Sherrod Brown (D., Ohio) wrote in an eight-page letter sent Monday to Federal Reserve Chairman Ben Bernanke.”  [Wall Street Journal, 8/7/12]

Brown Introduced Legislation To Tax Wall Street Bonuses To Firms Receiving TARP Funds And Use Revenue To Support Small Business Loans.  In February 2010, The Hill reported “Brown wants to impose a 50 percent tax on executive bonuses at firms that received aid under the $700 billion financial bailout package. The tax would fall on bonuses in excess of $25,000. Brown’s legislation would use the revenue to support loans from the Small Business Administration (SBA).” [The Hill, 2/11/10; S. 3007, 2/11/10]

Announcer:  Young Sherrod Brown voted for the balanced budget amendment.  Today’s Sherrod Brown voted to kill the balanced budget amendment

On Screen:  Young Sherrod Brown voted for balanced budget amendment [HJ Res 103, 3/17/94]

Today’s Sherrod Brown voted to kill balanced budget amendment [S.J. Res 10, 12/14/11]

Brown Cosponsored Three Balanced Budget Amendments.  [H.J. Res 28, 1/4/95; H.J. Res 22, 2/17/05; H.J. Res 58, 8/23/05]

Brown Voted For Balanced Budget Amendment.  In March 1994, Sen. Brown voted for passage of the joint resolution to propose a constitutional amendment to require a balanced budget by 2001 or the second fiscal year after ratification by three-fourths of the states, whichever is later. Congress could waive the balanced-budget requirement if three-fifths of the House and Senate approve deficit spending. It also could waive the requirement when a declaration of war was in effect or when there was a declared military threat to national security. [Vote 65, 3/17/94]

Brown Voted For Balanced Budget Amendment.  In March 1994, Sen. Brown voted for passage of the joint resolution to propose a constitutional amendment to require a balanced budget by 2001 or the second fiscal year after ratification by three-fourths of the states, whichever is later. Congress could waive the balanced-budget requirement if three-fifths of the House and Senate approve deficit spending. It also could waive the requirement when a declaration of war was in effect or when there was a declared military threat to national security. [CQ; Vote 65, 3/17/94]

Brown Voted For Balanced Budget Amendment.  In January 1995, Sen. Brown voted for passage of the joint resolution to propose a constitutional amendment to balance the budget by the year 2002 or two years after ratification by three-fourths of the states, whichever is later. Under the proposal three-fifths of the entire House and Senate would be required to approve deficit spending or an increase in the public debt limit. A simple majority could waive the requirement in times of war or in the face of a serious military threat.” [CQ; Vote 51, 1/26/95]

Brown Voted For A Balanced Budget Amendment.  In March 2011, Sen. Brown voted for a Lee, R-Utah, amendment no. 115 that would express the sense of the Senate supporting consideration of an amendment to the Constitution to require a balanced budget. [Vote 30, 3/2/11]

Announcer:  Young Sherrod Brown voted more for Ohio.  Today’s Sherrod Brown?  He just votes the party line.  Where did the young Sherrod go?

Brown Voted To Proceed To Emergency Loan Package For Domestic Automakers.  In December 2008, Senator Brown voted for a motion to invoke cloture (thus limiting debate) on the motion to proceed to the bill on the alternative minimum tax, which would serve as the vehicle for an emergency loan package for domestic automakers. [CQ; Vote 215, 12/11/08]

• ·         Sen. Brown:  “We Can Provide Bridge Loans To The Auto Companies Or Allow The Economy To Drive Off The Cliff.”  In December 2008, The Columbus Dispatch reported “Sen. Sherrod Brown warned yesterday that unless Congress steps in to rescue the Detroit automakers, the ‘consequences are too damaging to our great state.’  In a telephone interview with reporters as auto executives testified before the Senate Banking Committee, the Ohio Democrat said lawmakers in the House and Senate ‘have two choices: We can provide bridge loans to the auto companies or allow the economy to drive off the bridge.’”  [Columbus Dispatch, 12/05/08]

Sen. Brown’s Bill To Curb China Currency Manipulation Passed In The Senate.  In October 2011, Senator Brown voted for passage of the bill, which he authored and which passed the Senate, that would allow sanctions if the Treasury Department determined that a trading partner’s currency is “misaligned” based on a set of economic indicators. It would establish new reporting requirements for Treasury to identify misaligned currencies in two different categories, differentiating currencies that a foreign government has intentionally manipulated from those that change because of market forces. [Vote 159, 10/11/11]

• ·         Crain’s Cleveland Business:  “We’d Like To Offer Praise And Support” For Sen. Brown’s Bipartisan Effort To Combat Chinese Currency Manipulation. In an August 2010 editorial, Crain’s Cleveland Business wrote “Now is the summer of our economic discontent. The worst of this recession is behind us – we think – but hiring isn’t bouncing back in a way illustrative of a sustained recovery. Most days bring reports that feed worries the economy has weakened … So in a bipartisan fashion that’s manifestly not on display these days in Washington, we’d like to offer praise and support for ideas advanced last week by Ohio’s U.S. senators, Democrat Sherrod Brown and Republican George Voinovich.  Sen. Brown and 10 other senators, including three Republicans, sent a letter to President Barack Obama urging him to take stronger action to combat the manipulation of currency by the Chinese government.”  [Crain’s Cleveland Business, Editorial, 8/9/10]

Brown Voted Against North American Free Trade Agreement.  In November 1993, Senator Brown voted against passage of the bill to approve the North American Free Trade Agreement and make the necessary changes to U.S. statutory law to implement it.  [Vote 575, 11/17/93]

Brown Voted Against Permanent Normal Trade Relations With China.  In May 2000, Senator Brown voted against Passage of the bill that would make normal trade relations with the People’s Republic of China permanent. The bill contains a measure that would protect U.S. businesses and workers from Chinese import surges. The bill includes a provision that would establish a commission to monitor human rights, labor standards and religious freedom in China. The administration would have to report annually on China’s compliance with trade agreements and express the sense of Congress that Taiwan should be admitted to the World Trade Organization.  The measure would authorize $99 million for Radio Free Asia and the Voice of America to expand broadcasts to China and neighboring countries. [CQ; House Vote 228, 5/24/00]

Brown Voted Against Central American Free Trade Agreement.  In July 2005, Senator Brown voted against passage of the bill that would implement a free trade agreement between the United States and Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua and a separate pact with the Dominican Republic.  [Vote 443, 07/28/05]

Brown Voted Against Trade Obama Administration’s Agreement Between The United States And South Korea.  In October 2011, Senator Brown voted against passage of the bill that would implement a trade agreement between the United States and South Korea. The agreement would reduce most tariffs and duties on goods traded between the two countries, reduce barriers to trade in services, increase protections for intellectual property and reduce tariffs on U.S. autos exported to South Korea.  [Vote 161, 10/12/11]

Brown Voted Against The Obama Administration’s Trade Agreement Between The United States And Panama.  In October 2011, Senator Brown voted against passage of the bill that would implement a trade agreement between the United States and Panama. The agreement would reduce most tariffs and duties on goods traded between the two countries, reduce barriers to trade in services, increase protections for intellectual property and require Panama to take steps to strengthen its labor and environmental enforcement standards.  [Vote 162, 10/12/11]

Brown Voted Against The Obama Administration’s Trade Agreement Between The United States And Colombia.  In October 2011, Senator Brown voted against passage of the bill that would implement a trade agreement between the United States and Colombia. The agreement would reduce most tariffs and duties on goods traded between the two countries, reduce barriers to trade in services, increase protections for intellectual property and require Colombia to take steps to strengthen its labor and environmental enforcement standards.  [Vote 163, 10/12/11]