Tim Kaine on Budget & Economy Democratic Senate Challenger; previously Governor

Passing core of Build Back Better will tackle inflation

Passing core of Build Back Better will tackle inflation

Invest in infrastructure & invest in our workforce

• First thing we do is we invest in manufacturing, infrastructure, and research in the clean energy jobs of tomorrow.
• Second thing is we invest in our workforce, from pre-K education to great teachers to debt-free college and tuition-free college for families that make less than $125,000 a year.
• Third, we promote fairness by raising the minimum wage, so you can't work full-time and be under the poverty level, and by paying women equal pay for equal work.
• Fourth, we promote small business growth, just as we've done in Virginia, to make it easier to start and grow small businesses. Hillary and I each grew up in small-business families.
• And, fifth, we have a tax plan that targets tax relief to middle- class individuals and small businesses and asks those at the very top who've benefited as we've come out of recession to pay more.

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

Tea Party's reckless economic policies create uncertainty

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.

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

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.

I cut state spending $5B while investing in infrastructure

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

"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."

Cabinet Community Days: we see people worried but hopeful

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

In 5 years, Bush took us from surplus to deficit

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.

Fiscal discipline kept AAA bond rating

Progress economically via stable finances

Opposes 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"

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.