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Mike Rounds on Corporations

Republican SD Governor

 


$75M in Future Fund grants to support entrepreneurialism

Former Gov. Mike Rounds handed out $21 million in Future Fund grants during his final year in office. During his 8-year administration, Rounds gave 587 grants totaling more than $75 million to various companies and government entities. Individual Future Fund disbursements ranged from $400 to $1.5 million, while Rounds served as governor.

By comparison, a total of 55 grants were handed out in 2013, totaling $12.8 million. Rounds told the Capital Journal the increase in Future Funds during his final year in office occurred as the state's businesses attempted to recover from the recession. "As we came out of the recession and new manufacturers started showing up, they would apply for workforce development grant funds," he said. Rounds called Future Funds "one of the best tools South Dakota has for economic development efforts."

The Future Fund provides S.D.'s businesses support for workforce development and technical assistance programs, as well as encourages entrepreneurial activities.

Source: The Capital Journal on 2014 South Dakota Senate race , Mar 11, 2014

Regulatory relief for smaller banks stimulates growth.

Rounds 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.

Rounds 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: Mike Rounds on other issues:
    SD Gubernatorial:
    Billie Sutton
    Dennis Daugaard
    Kristi Noem
    Marty Jackley
    SD Senatorial:
    Daniel Ahlers
    Jay Williams
    John Thune
    Scyller Borglum

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    Page last updated: Oct 25, 2020