Issue Position: Jobs and Economy

Issue Position

Senator Warner recognizes that our nation faces real challenges in balancing the need to bring down the federal deficit with the need to invest in our long-term economic prosperity. While working to get our economy back on track, he will remain an advocate for responsible investments and common-sense regulatory reform to improve our nation's ability to compete in the global economy. Senator Warner will continue to push Congress to address the foreclosure crisis and shore-up the real estate market. He'll also use his business experience to look for new ways to keep credit flowing to consumers and small businesses, and to give entrepreneurs access to the capital they need to get new businesses going.

Senator Warner's Progress

Senator Warner co-sponsored the Building a Stronger America Act of 2012 (S. 3479) with Senator Pryor (D-AR), Senator Blunt (R-MO), Senator Brown (D-OH), Senator Snowe (R-ME), and Senator Wyden (D-OR). This legislation included provisions from Senator Warner's America Recruits Act (S. 1247), as well as additional proposals designed to strengthen American manufacturing, ensure that trade laws are enforced, and streamline federal trade and export programs.

Senator Warner introduced Startup Act 2.0 (S. 3217) with Senator Moran (R-KS), Senator Rubio (R-FL), and Senator Coons (D-DE) which built upon Senator Warner's work with Senator Moran in 2011 on the original Startup Act (S. 1965). Startup 2.0 is focused on helping startup businesses recruit and retain global talent, encourage more R&D and investment in startups, generate new intellectual property and technology, and create new jobs and economic opportunities.

Senator Warner and the Gang of Six put forward a plan to address our debt and deficit. This plan was based on the Simpson-Bowles Commission recommendations and reduced future deficits by roughly $4 trillion through spending cuts, entitlement reforms, and new revenue. It provided a solid basis for a bipartisan, comprehensive, and balanced solution to our debt and deficit.

Senator Warner became a co-sponsor of the bi-partisan Building and Upgrading Infrastructure for Long-Term Development (BUILD) Act, which will create a new self-sustaining, independent infrastructure bank to help finance large public infrastructure projects such as bridges, rails and roads while also creating thousands of jobs throughout the next decade.

Senator Warner authored an op/ed in the Financial Times that argued for a compromise solution on the expiration of the Bush tax cuts. The op/ed received national attention and sparked debate on the future of the tax cuts.

Congress passed and President Obama signed into law "The Small Business Jobs Act." A major part of this legislation included a program Senator Warner worked on -- an expansion of an existing and effective network of state-run programs to encourage and extend needed credit to local small businesses.

Senator Warner joined a bipartisan group of Senators to successfully add a key amendment to the Wall Street reform legislation to protect the ability of "angel investors" to support small business startups that will be vital to job creation.

Senator Warner hosted a federal job fair in Stafford County for Virginians looking for work. More than 7,000 job-seekers attended the fair. In May, based on the overwhelming response and feedback from our March job fair, Senator Warner asked Monster.com to bring their "Keep America Working" Career Fair to Annandale. The Monster.com fair featured nearly 50 public and private employers and offered on-site interview and hiring.

Since mid-October 2009, Senator Warner has been working with the Obama administration on a proposal to boost credit to small business owners.

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