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If anyone thought that the Democrats capturing the U.S. Congress would result in any real change in Congressman Henry Cuellar, they were wrong.  Just last week, Cuellar voted with only four other Democrats to allow Corporate CEO’s to be paid huge multi-million dollar compensation packages without ordinary shareholders having any opportunity to cast even a symbolic vote on whether the compensation was deserved or could be afforded.  Cuellar’s “NO” vote on this common sense bill, H.R. 1257, makes it crystal clear he remains solidly on the side of irresponsible corporate fat cats and his friend George Bush, who vowed to veto the legislation after it passed the House.  

Over the past several years, Cuellar has managed to vote with Bush 85% of the time – more than any other Democrat in even Bush’s home state of Texas.  While some have suggested that now that the Democrats are in the majority he would change, this vote proved that this guy knows which side he’s on…and it’s not the side of working class families.  

Cuellar’s vote shouldn’t be a surprise.  After all, his top campaign contributors are the PACs of the right-wing Club for Growth (he was the first Democrat endorsed by the Club) and the International Bank of Commerce.  And as Bush’s favorite Democrat, Cuellar is more likely do what’s helpful to corporate CEOs and the wealthiest in our country, rather than the regular working folks who, in large part, make up his constituents.   Cuellar represents the Rio Grande Valley, which, according to the local paper, The, has "some of the lowest wages in the nation.").

As we wrote on the Wire at last week, in 1965 CEOs of major US companies made 24 times more than the average worker - by 2005, they made 262 times more.  Given today's staggering disparity between the very rich and the poor, shining a little light on executive compensation packages is just common sense and we can't understand why Congressman Cuellar thinks this is a bad idea.  (seeMissLaura’s recent post for more great info on income inequality)

The final tally for the vote was 269 - 134.   214 Democrats and 55 Republicans voted yes and only four other Democrats voted against the bill --Boyd (FL-2), Boyda (KS-2), Cardoza (CA-18) and Tanner (TN-8).

H.R. 1257 would allow shareholders to have an advisory vote on executive compensation.  A shareholder voice in the executive pay process will encourage boards of directors to consider shareholder interests before approving questionable compensation plans.   It’s one small but important step toward opening up the process around CEO pay packages and ensuring sound corporate governance.  It shouldn’t be a difficult vote for a Democrat – and it wasn’t for 214 of them in Congress.  But let’s face it – Henry Cuellar is a Democrat in name only.

Originally posted to Steve Rosenthal on Fri Apr 27, 2007 at 08:41 AM PDT.

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Comment Preferences

  •  Take him out (3+ / 0-)
    Recommended by:
    Predator Saint, cosette, rmx2630

    Cuellar and Bush are alike on
    the fundamentals -- both are
    completely fraudulent. Cuellar
    is a fraud right down to the ( D )
    behind his name.

    But Cuellar is in big trouble going
    into 2008: He holds the seat in
    one of the districts redrawn by
    the courts last year, after a part
    of Tom Delay's mid-decade
    redistricting was found to violate
    the Voting Rights Act.

    In a newly redrawn district, Ciro
    Rodriguez took out the incumbent ( R ),
    Henry Bonilla, last year.

    Nothing happened in the other
    four redrawn districts, in large part
    because most local politicos
    were taken by surprise when they
    got the news about the new lines.
    ( Ciro had been waiting and watching. )

    But Cuellar's district now includes
    a big chunk of "the Valley" that
    was not part of his old one.

    The Valley voters could provide
    a hometown advantage to a strong
    challenger to Cuellar, whose base
    is Laredo. By one count, the Valley's
    Democratic voters outnumber those
    in the Laredo part of the newly
    redrawn district.

    We should all keep an eye on this
    district as one where we can take out
    one of Bush's boys in the next primary --
    it's March of 2008, or maybe February.

    That primary is little more than 9 months
    from now.

    BTW Boyda voted against? I know
    that her Kansas district tilts ( R ),
    but how could she make enemies
    votig for this bill?

  •  Cuellar a member of the Kleptocrat Party (0+ / 0-)

    Thanks for posting. Cuellar, aka Rove on the Rio Grande needs to go. He could be hard to beat, Laredo likes him (why?) and Club For Growth might support him again, but at least it takes their money away from the Bush 98%+ R complete wingnuts.

  •  He did vote to end the war. n/t (0+ / 0-)

    Join the College Kossacks on Facebook, or the Republicans win.

    by DemocraticLuntz on Fri Apr 27, 2007 at 10:27:28 AM PDT

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