Issue Position: Economy
Senator Dodd believes that knowledge and innovation are the engines that drive America's economy. As a United States Senator for Connecticut, he has seen how a well-educated and well-trained workforce can foster economic growth and prosperity.
In Washington, he has also advocated for fiscal discipline as a precondition for jobs and progress. He introduced one of the first "pay as you go" budget plans to restrain federal spending and tax plans that were not paid for up front. He was a supporter of President Clinton's historic 1993 and 1997 deficit reduction packages, which contributed to the creation of 22 million new jobs -- an unprecedented period of sustained economic growth.
Senator Dodd supports investment in America's technology and aerospace industrial base. In 2003, he introduced the Aeronautics Research and Development Revitalization Act, authorizing the government to double the funding in aviation research and development over five years and to dramatically increase resources for the study of aeronautical science in our nation's schools. Together with Senator George Allen (R-VA) and Representative John Larson (D-CT), he has fought to enact important provisions of this act to coordinate new technological development and increase investment in aviation research. He is also a cosponsor of legislation to make permanent the tax credit for research and development expenditures.
Senator Dodd has supported investments and targeted tax breaks to working families and to small businesses. He has introduced legislation to strengthen the Earned Income Tax Credit and Child Tax Credit and legislation to put the brakes on contract bundling to ensure that small businesses can compete for a fair share of government contracts. Senator Dodd has also been a strong supporter of full funding for the Small Business Administration's loan programs for small businesses.