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John Hoeven on Corporations

Republican Jr Senator; previously Governor

 


Right approach: empower entrepreneurs & small business

Hoeven said his approach is one of empowerment, and it's a mantra that he repeats often on the campaign trail and echoed again several times when responding to answers during Friday's debate.

"I have an approach that empowers people and entrepreneurs and small business," Hoeven said. "That's what we need to get our economy going."

Source: Fargo-Moorhead Forum coverage of 2010 N.D. Senate debate , Oct 1, 2010

2003: overhauled corporate tax from 10.5% to 7%

State-by-state economic records of the past decade show us conclusively that low taxes create jobs and high taxes kill them. For example, in 2003 Governor John Hoeven (R, ND) encouraged the state legislature to overhaul the state's corporate income tax, reducing the top rate from 10.5% to 7% and providing a two-year tax exemption to encourage natural gas drilling. Now the state's economy is booming, boasting the lowest jobless rate in America--around 4%.

With the economy growing quickly and government spending remaining frugal, the state began considering a big tax cut that would boost the economy even more.

Enacted the following month, the tax cuts sent a welcoming message to entrepreneurs looking to start or expand businesses. Note that the government has not created jobs in North Dakota, but its pro-growth policies have created a virtuous cycle that stimulates the private sector.

Source: To Save America, by Newt Gingrich, p.177-178 , May 17, 2010

Rated 29% by UFCW, indicating a mixed management/labor voting record.

Hoeven scores 29% 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

Regulatory relief for smaller banks stimulates growth.

Hoeven 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

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

Hoeven 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

    Other candidates on Corporations: John Hoeven on other issues:
    ND Gubernatorial:
    Doug Burgum
    Jack Dalrymple
    Marvin Nelson
    Michael Coachman
    Shelley Lenz
    ND Senatorial:
    Dustin Peyer
    Eliot Glassheim
    Heidi Heitkamp
    Kevin Cramer
    Robert Marquette
    Thomas Campbell

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    Page last updated: Dec 25, 2021