Kaine outlines economic agenda
Tim Kaine released his economic agenda on Wednesday as he embarked on a two-week tour of Virginia. The roadmap includes strategic initiatives to grow businesses and encourage job creation, develop a talented workforce, and balance the budget by finding common ground on spending cuts as well as investments that will generate new revenue.
“As the global competition increases, we must act now to equip businesses with the tools they need to create jobs, develop a strong and talented workforce, and address our fiscal challenges by finding common ground,” said Kaine. “We can no longer let politics get in the way of what’s best for our economy and this vision lays out a roadmap for our future economic success.”
U.S. Sen. Mark Warner joined Kaine Wednesday to discuss: Infrastructure development strategies for increasing exports at the Port of Virginia in Norfolk, small business growth and access to capital at a business in Northern Virginia, and using a balanced approach to allow for strategic investment in education with teachers and parents at Richmond’s Maggie Walker Governor’s School.
Kaine’s vision for our economic future includes three key initiatives:
Grow Business, Grow Jobs: Kaine believes targeted investments and policies can support our businesses and spur job creation by increasing access to capital, and leveling the playing field by addressing an unfair tax code that is over burdensome for small businesses. In addition, strategic investments in infrastructure are critical to ensuring our roads, airports, port, and railways are able to support Virginia in a global economy. During Kaine’s term as Governor, Virginia was named the Best State for Business four years in a row and through his work, Virginia attracted companies to the Commonwealth including Meadwestvaco, Hilton, CSC, SAIC, and VW of North America.
Build a Talent Economy: In order to develop the most talented workforce in the world, Kaine states we need a long-term policy that supports investments and smart reform in education, from early development like Pre-K to higher education and workforce development. Kaine supports policies that increase college affordability and elevate the importance of career and technical education. During Kaine’s term as Governor, he passed the largest higher education construction bond package in Virginia history and expanded pre-K enrollment by nearly 40 percent.
Balanced Budget, Balanced Politics: In order to close the federal deficit and pay down the national debt, Kaine recommends a balanced approach that would raise revenues by closing lobbyist-driven loopholes and allowing tax cuts for the wealthiest American to expire, while making strategic cuts. As Governor, Kaine cut more than $5 billion in state spending and reduced the size of the general fund, but left room for important investments in areas like education that were critical for future growth.
Response from Mike Thomas, Campaign Manager, George Allen for U.S. Senate
“It took a year, but Chairman Tim Kaine has finally put on paper what Virginia families already knew – he wants to raise taxes on families and small businesses; supports counterproductive energy policies which allow Washington to pick the winners and losers; wants more failed stimulus spending and thinks Obamacare is a ‘great achievement’ which puts heavy burdens and mandates on individuals and small businesses alike.
“Unfortunately, Virginians have already experienced Chairman Kaine’s ‘vision for our economic future.’ As Governor, he drained the Rainy Day Fund by nearly a billion dollars and tried to raise taxes by $4 billion as the Commonwealth hemorrhaged over 100,000 private-sector jobs. And while Chairman Kaine likes to talk about building a talent society, his actions speak louder than his words. He made – his word – ‘significant’ cuts to higher education, which drove up the cost of tuition and made college less affordable for Virginia families and working students.
“He repeated the same pattern in Washington as President Obama’s hand-picked Democratic National Committee Chairman, supporting policies that made annual trillion dollar deficits the norm, adding more than $4.8 trillion to our national debt and leading to the first ever downgrade of the U.S. credit worthiness.
“If Chairman Kaine is serious about creating jobs he should support the repeal of Obamacare, work to unleash all of our American energy resources, stop the Obama Administration’s attack on coal and approve the Keystone pipeline. Virginians deserves a Senator who will stand up for Virginia families and small businesses against the harmful Washington policies that will have will have them paying higher taxes, higher prices for fuel, food and electricity and putting our country in more dangerous debt.”