Tim Kaine on Budget & Economy

Democratic Senate Challenger; previously Governor


Invest in infrastructure & invest in our workforce

Hillary and I have a plan that's on the table that's a "you're hired" plan. Five components:
Source: 2016 Vice-Presidential Debate at Longwood University , Oct 4, 2016

We tried Trump tax plan in 2000s: it caused Great Recession

[The Trump-Pence] plan is massive tax breaks for the very top, trillions of dollars of tax breaks for people just like Donald Trump. The problem with this, is that's exactly what we did 10 years ago and it put the economy into the deepest recession since the 1930s. Independent analysts say the Clinton plan would grow the economy by 10.5 million jobs. The Trump plan would cost 3.5 million jobs. Why would Donald Trump do this? Because his tax plan basically helps him. And if he ever met his promise and he gave his tax returns to the American public like he said he would, we would see just how much his economic plan is really a Trump-first plan.
Source: 2016 Vice-Presidential Debate at Longwood University , Oct 4, 2016

Tea Party's reckless economic policies create uncertainty

Tea Party activist Jamie Radtke hit the former one-term senator for voting to add an expensive prescription drug program to Medicare and backing No Child Left Behind, two initiatives sought by Republican President George W. Bush. "Tim Kaine will not run to the right of me on spending," Radtke said, subtly criticizing the budgets Allen voted for during his previous Senate term.

Kaine's campaign responded to the repeated criticism following the debate. "Virginia voters heard the Tea Party contenders push reckless economic policies that would damage Virginia's economy, create more uncertainty for our businesses, and make our nation less globally competitive," a Kaine spokeswoman said.

Source: Washington Examiner on 2012 Virginia Senate debate , May 25, 2012

Reverse the sequester: harmful, across-the-board budget cuts

Tim is proud of President Obama's work to rebuild the American economy and believes Congress can build on that work by equipping Americans with the tools to climb the economic ladder. One of Tim's top priorities in the Senate has been reversing the harmful, across-the-board budget cuts known as sequestration that are hurting Virginia businesses and their workers.

Tim supported the two-year bipartisan budget deals passed in 2013 and 2015 that provided relief from sequester cuts and restored certainty to the defense community, businesses, and families across the country. He continues to press Congress to permanently adopt two-year budgeting to give businesses and communities more flexibility to plan ahead. Tim supports policies that help America continue to grow the world's most talented workforce.

Source: Virginia 2012 Senate campaign website KaineForVA.com , Feb 29, 2012

I cut state spending $5B while investing in infrastructure

During a discussion on the tax code, Allen proposed a "freedom to choose" flat tax, in which people could choose either a flat tax--though Allen stopped short of naming an exact rate, or which deductions might still exist--or the present tax code, if they thought they could get a better deal by itemizing various deductions. Allen predicted that over time, most people would migrate to the flat tax. For his part, Kaine pointed out that Allen was unable to come up with a number.
Source: Eric Kleefeld reporting on 2012 Virginia Senate debate , Dec 7, 2011

Opposes "Cut, Cap and Balance" as all cuts & no balance

In response to today's Senate vote on the Republicans' "Cut, Cap and Balance" legislation, Governor Tim Kaine released the following statement:

"I applaud the Senate's rejection of the Republicans 'All Cuts, No Balance' legislation. By targeting programs like Medicare and Social Security for the deepest cuts while making it harder to ask wealthy individuals and companies to pay their fair share, the Republicans' plan asks everyday Americans bear the entire burden of spending reductions while insulating billionaires and corporations from cuts.

"Instead, our country needs a truly balanced approach to fiscal responsibility that incorporates targeted spending cuts, increased revenue though closing tax loopholes on corporations who don't need them and allowing the Bush tax cuts to expire for the wealthiest individuals and investments in education and infrastructure that will grow our economy."

Source: 2012 Senate campaign website, www.kaineforva.com, "Welcome" , Jul 22, 2011

Cabinet Community Days: we see people worried but hopeful

The national economic recession looks like it will be the longest since World War II. Citizens are cutting back; businesses are struggling. And, government agencies & churches are seeing an increase in demand for their services.

I've seen these challenges firsthand. Four times each year, I take my entire cabinet on the road where we talk to citizens and learn. We call these visits "Cabinet Community Days." In December, people I talked to were worried about finding another job. Worried about how they'd provide Christmas for their children. Worried about how they'd pay their bills. But they were resolved. They were hopeful. And despite whatever worries they had, they were helping each other.

Now, more than ever before, it's time for all hands to be applied to the task of righting the national economy. President-elect Obama and the Congress are discussing a federal stimulus package to do just that--and I am moving forward on capital projects and business incentives designed to help create jobs

Source: Virginia 2009 State of the State address , Jan 14, 2009

In 5 years, Bush took us from surplus to deficit

Tonight we heard the president again call to make his tax policies permanent, despite his administration’s failure to manage our staggering national debt. Over the past five years, we’ve gone from huge surpluses to massive deficits.

Now, no parent makes their child pay the mortgage bill. Why should we allow this administration to pass down the bill for its reckless spending to our children and grandchildren?

There’s a better way. Two years ago in Virginia, Democrats and Republicans worked together to reform our budget. By focusing on results, we were able to keep the budget balanced, preserve our strong credit rating and protect the essential services that families rely on: education, health care, law enforcement. States all across this country are doing this right now, as the federal government falls further and further into debt.

Source: Democratic Response to 2006 State of the Union address , Jan 31, 2006

Fiscal discipline kept AAA bond rating

As Lieutenant Governor, Tim Kaine worked with Governor Warner to restore Virginia’s tradition of fiscal discipline and save its triple A bond rating. They brought state spending under control, restored faith in government, and led real budget reform that brought about needed investments in education, public safety, health care, transportation, and the Chesapeake Bay.
Source: 2005 Gubernatorial campaign website kaine2005.org, “Issues” , Nov 8, 2005

Progress economically via stable finances

As Virginia’s next Governor, Tim Kaine will be committed to furthering the Commonwealth’s economic progress. His Administration will build on the successes of Governor Warner, by keeping a stable financial environment, helping small businesses succeed, saving family farms, fostering competitive regional economies, tapping the strength of Virginia’s tourism attractions and preserving its natural resources.
Source: 2005 Gubernatorial campaign website kaine2005.org, “Issues” , Nov 8, 2005

Opposes a constitutional BBA.

Kaine opposes the CC Voters Guide question on a constitutional BBA

Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues. The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Passage of a Balanced Budget Amendment to the U.S. Constitution"

Source: Christian Coalition Voter Guide 12-CC-q11c on Oct 31, 2012

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