Carper's First Amendment Passes Senate Unanimously, Carper-Enzi Repeals Proposed Tax on State Chartered Banks
Apr 06 2001
WASHINGTON, DC - The first amendment Tom Carper offered as a United States Senator was approved unanimously today. The Carper-Enzi amendment repealed a discriminatory tax on state-chartered banks that had been included in the budget under consideration by the United States Senate. "If left standing, the tax would have discriminated against, and weakened, a state system of bank chartering that fostered a diversity of banks in communities across the nation," Carper said. "It is a great feeling to know that the first amendment I offered on the floor of the United States Senate was accepted unanimously. More importantly, it stopped this unfair tax from burdening our local, community banks." Nearly 7,000 state-chartered banks provide a major source of economic development for communities in every state in the nation. The fee proposed in the budget would have had a negative effect on credit availability and economic growth by decreasing the amount of bank capital available to leverage additional lending to small businesses and consumers. The amendment was co-sponsored by Senator Michael Enzi of Wyoming.