Mark Warner on Budget & Economy Democratic Jr Senator; previously Governor

Sequester was stupidest way to cut; shutdown cost even more

WARNER: Well, I think we need to step back a moment and say we just went through an awful period for our country. [The federal shutdown] actually increased the deficit. You can't start and stop the largest enterprise in the world, the federal government, without adding costs. We've actually built in higher interest rates because any time we get close to a potential default, we're going to have higher T-bill pricing. That passes through to mortgage costs, car loans, student loans. We ought to at least first make sure that we actually operate the government for a year going forward with a solid budget and find ways to alleviate some of the damage also being done by sequestration, which is this automatic spending cuts which was the stupidest way possible to go about cutting government. There were really no winners. I mean, our country took an economic hit, and a confidence hit.

Banking crisis caused by too many asleep at the switch in DC

Warner said the problems in banking and the mortgage business were caused by "too many people asleep at the switch in Washington. Everyone was looking at the next quarterly profits, and no one had a long-term plan," he said.

Gilmore's budgets "full of gimmicks" created $6B deficit

Gilmore said there was no deficit when he ended his term and that he delivered a balanced budget. He also noted that Warner promised not to increase taxes when running for governor but later instituted the largest tax increase in state history.

Popularity based on credit for saving state's finances

Close the largest budget shortfall in Virginia's history

Must not lose AAA bond ratings

Fiscal conservatism: taxpayer money is sacred

Mark Warner knows that Virginians work hard to earn a living and support their families. That's why he believes that taxpayer money is sacred, because it's not the government's money - it's the people's money. Mark will bring to state government the businessman's bottom-line approach that has made him successful in the private sector. He believes that state government can and should live within its budget without increasing the tax burden on Virginians. As Governor, Mark Warner will:
• Promote fiscal conservatism. Mark will maintain Virginia's commitment to fiscal responsibility and a balanced budget.
• Cut the car tax. Virginia made a commitment to Virginia's families to eliminate the burden of the car tax, and Mark will continue the job.
• Restructure Virginia's Tax Code. Mark will consider this issue and the recommendations from a bipartisan citizen commission.
• Improve accountability and management.
• Promote "e-government."

Promote traditional businesses; small business, & tourism

As Governor, Mark will serve as Virginia's chief economic development officer. His top economic priority will be to nurture a quality workforce and a good quality of life in every corner of the Commonwealth - while helping Virginia's regions maintain their unique character.
• Build and retain a quality workforce.
• Strengthen quality of life.
• Maintain a strong business climate.
• Attract regional economic cooperation.
• Develop a strategic economic plan.
• Strengthen cooperation within the Governor's Cabinet.
• Implement a Governor's Economic Crisis Strike Force.
• Promote rural economic growth.
• Target investment efforts.
• Protect Virginia's traditional industries.
• Grow existing Virginia small businesses.
• Attract new businesses.
• Promote tourism.

Voted YES on $900 billion COVID relief package.

NPR summary of HR133:

• $600 checks for every adult and child earning up to $75,000, and smaller checks if earning up to $99,000.
• Unemployment: extend enhanced benefits for jobless workers, $300 per week through March.
• Rental assistance: $25 billion to help pay rent; extends eviction moratorium until Jan. 31.
• SNAP assistance: $13 billion for the Supplemental Nutrition Assistance Program.
• PPP loans: $284 billion for Paycheck Protection Program loans, expanding eligibility to include nonprofits, news/TV/radio media, broadband access, and movie theaters & cultural institutions
• Child care centers: $10 billion to help providers safely reopen.
• $68 billion to distribute COVID-19 vaccines and tests at no cost.
• $45 billion in transportation-related assistance, including airlines and Amtrak.
• $82 billion in funding for schools and universities to assist with reopening
• $13 billion for the Coronavirus Food Assistance Program for growers and livestock producers.

Argument in opposition: Rep. Alex Mooney (R-WV-2) said after voting against H.R. 133: `Congress voted to spend another $2.3 trillion [$900 billion for COVID relief], which will grow our national debt to about $29 trillion. The federal government will again have to borrow money from nations like China. This massive debt is being passed on to our children and grandchildren. With multiple vaccines on the way thanks to President Trump and Operation Warp Speed, we do not need to pile on so much additional debt. Now is the time to safely reopen our schools and our economy. HR133 was another 5593-page bill put together behind closed doors and released moments prior to the vote.`

Legislative outcome: Passed House 327-85-18, Roll #250, on Dec. 21. 2020; Passed Senate 92-6-2, Roll #289, on Dec. 21; signed by President Trump on Dec 27 [after asking for an increase from $600 to $2,000 per person, which was introduced as a separate vote].

$1.9 trillion ARPA bill for COVID relief.

This bill provides additional relief to address the continued impact of COVID-19 on the economy, public health, state and local governments, individuals, and businesses:

• Supplemental Nutrition Assistance Program (SNAP, formerly known as the food stamp program);
• schools and institutions of higher education;
• child care and programs for older Americans and their families;
• COVID-19 vaccinations, testing, treatment, and prevention;
• emergency rental assistance, homeowner assistance, and other housing programs;
• payments to state and local governments for economic relief;
• small business assistance, including restaurants;
• and state capital projects that enable work, education, and health monitoring in response to COVID-19

Rep. Kevin McCarthy in OPPOSITION (3/11/21): The so-called American Rescue Plan imposed a $1.9 trillion new burden on American families. Despite being branded as `COVID relief,` only 9% of funds in this bill actually goes to defeating the virus, and almost half of the money, including more than 95% of the education funds, will not be spent until 2022 or later. After a year of struggle and sacrifice, students and parents get no answer to the vital question of when they can expect schools to reopen full time. President Biden wants Americans to believe `help is on the way.` But under this bill, it isn`t; waste is.

Biden Administration in SUPPORT (2/26/21): ARPA provides the tools and support critical to tackle the urgent public health and economic crises the Nation faces as a result of COVID-19. The bill also provides eligible Americans with a $1,400 payment in addition to the $600 payment provided in December of 2020. The bill also extends key emergency unemployment benefits, and raises the minimum wage to $15 per hour.

Legislative Outcome: Passed House 219-212-1 on 2/27/21; passed Senate 50-49-1 on 3/6/21; signed by President on 3/11/21.