Frederick Stephen Upton (born April 23, 1953) is the U.S. Representative for Michigan’s 6th congressional district, serving since 1987.
DEBT CEILING BILL FIRST VOTE: This Congressman voted YES on the first vote of the revenue bill numbered S.677. The ‘S’ on the bill means the bill originated in the Senate, not in the House of Representatives as the Constitution requires.
If this Congressman, along with 2 others, had listened to the public outcry and voted NO, it would have forced a vote on the Cut, Cap, and Balance Bill that would have prevented the downgrade of the USA credit rating from AAA to AA+.
Furthermore, the vote on this bill was used as a bait and switch, since this bill, S. 677, was not the bill finally passed and signed into law, S. 365. In order to raise the debt ceiling, the House used not one, but two Senate bills to bypass the Constitution and confuse the public.
Here are the links to both House of Representative votes and the bills that were completely rewritten from their original intent: http://thomas.loc.gov/cgi-bin/bdquery/D?d112:3:./temp/~bd7mXA:@@@R|/home/LegislativeData.php|
DEBT CEILING BILL: This Congressman voted YES to S. 365 on the final vote to raise the debt ceiling. The bill had public outcry claiming it was an illogical step since there was no budget passed since 2007 to even know if more money was needed. It is a revenue bill created in the Senate, when the Constitution clearly states that all revenue bills must be initiated in the House of Representatives.
Cost is “less than $1 per American over the 2012-2016 period. Computed from a Congressional Budget Office report by dividing the estimated cost of $71,000,000 by the U.S. population. (Note: To keep this cost down, they also divided it by 4 years.)http://www.govtrack.us/congress/bill.xpd?bill=s112-365
Before any votes occurred, President Obama said publicly that the USA could “no longer pay SSI on August 3rd” without borrowing more money and the USA was at risk of defaulting on it’s loans. This admission directly affected the world’s views on our ability to pay our debts.
Shortly after this bill passed, the S&P then downgraded for the first time in history the USA’s AAA credit rating to AA+ stating the budget cuts in this bill were not enough for the USA to keep borrowing more money without eventually defaulting.
More downgrades have occurred since, such as the downgrade of Fannie Mae and Freddie Mac, which is now taxpayer owned because they cannot keep their obligations without borrowing money from the federal government.
PATRIOT EXTENTION ACT of 2011 – This Congressman voted YES on S.990 to extend the Sunset clause of the Patriot Act which is widely desputed by Americans from both parties because infringes upon our right to privacy.
(b) Intelligence Reform and Terrorism Prevention Act of 2004- Section 6001(b)(1) of the Intelligence Reform and Terrorism Prevention Act of 2004 (Public Law 108-458; 50 U.S.C. 1801 note) is amended by striking ‘May 27, 2011’ and inserting ‘June 1, 2015’. http://www.govtrack.us/congress/bill.xpd?bill=s112-990
TARP (BANK BAILOUT) BILL: This Congressman voted YES on the H.R. 1424, which was originally passed by the House as the Genetic Information Nondiscrimination Act of 2008. This is unconstitutional because all revenue bills must originate in the House of Representatives first. This bill provided massive loans to failing banks, who were participating in risky loans. This bill is the primary instrument in fully ‘waking the sleeping giant’ of the public because no regulations were put upon the banks to stop them from doing risky loans.
A bill to provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.
This is the Senate’s October 2008 Economic Stimulus Relief Bill. This bill was originally introduced in March 2007 and passed the House as the Genetic Information Nondiscrimination Act of 2008. In October 2008, it was co-opted as the so-called “vehicle” to pass the relief bill with an amendment that rewrites the whole bill. The House’s initial vehicle was H.R. 3997, but they failed to pass their amendment co-opting the bill. http://www.govtrack.us/congress/bill.xpd?bill=h110-1424
PATRIOT ACT: This Congressman voted YES after 9/11 for counter-terrorism efforts which expands the reach of government to bypass our individual rights. This bill created the single largest infringement on our right to privacy as Americans permitting wiretaps within the United States without a search warrant if we make a call outside the usa, giving the government access to American companies client information, including medical records for anyone in the world, the list of infringements goes on and on regarding this over-reaching bill. For a time, the USA PATRIOT Act allowed for agents to undertake “sneak and peek” searches.
To deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and for other purposes. http://www.govtrack.us/congress/bill.xpd?bill=h107-3162
BANK DEREGULATION: This Congressman voted YES on S.900 which was made into law October of 1999. The was a bipartisan bill, and recieved millions in bank lobbyists money to achieve. In fact, it passed with so many votes, even it had been vetoed by the President, it could have just done another vote to override the veto.
What this bill did was permit other industries to own our banks, and it permitted our banks to own other industries. This allowed banks to co-mingle our money in the banks with riskier industries, such as credit cards and insurance, and we all know when it happened. The birth of the credit/debit card rapidly was done by all.
Many claimed the CRA (Community Reinvestment Act) created the bubble, but it is not true. The banks were not permitted to be deregulated in the S.900 unless they became CRA certified. CRA had been around since the 70′s, and more done in the mid 90′s to no avail. The banks simply would not take the risks associated in becoming CRA certified until the carrot of becoming deregulated was dangled in front of them.
An Act to enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes. http://www.govtrack.us/congress/bill.xpd?bill=s106-900
Furthermore, Congress later voted in December for the bill to permit mortgages to be securitized, allowing mortgages to be sold on the future’s market while the bank keeps administrative rights as Mortgage Service Providers. This vote was an oral vote with little opposition, yet substantially altered the way mortgages were handled. The entire Senate unanimously voted for it, and it is unknown which Congressman in the House of Representatives did not support it, other than it is known by the way the vote was handled is was almost unanimous.
(Sec. 1208) Amends the Federal Deposit Insurance Corporation Improvement Act of 1991
to increase from 90 percent to 100 percent of fair market value the permissible evaluation of readily marketable purchased mortgage servicing rights that may be included in calculating an insured depository institution’s tangible capital, risk-based capital, or leverage limit, if the Federal regulatory agencies jointly find that such an increase will not adversely affect the deposit insurance funds or the safety and soundness of insured depository institutions. http://www.govtrack.us/congress/bill.xpd?bill=h106-5640