A_Vision_for_Our_Economic_Future

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					                          tim Kaine for
                             U.S. Senate



JOBS
A VISION FOR OUR ECONOMIC FUTURE




 Wo rk Together, S treng then Ameri c a
             K a i n e f o r VA . c o m
    A VISION FOR OUR ECONOMIC FUTURE

       GROWTH, TALENT, BALANCE

             America’s economy has been the world’s largest since the 1890s. We’ve been
             propelled by the ingenuity of American workers and American businesses.
             We’re blessed with unparalleled natural resources. And, our nation’s
             transportation, communication, defense and education assets have put us
             at the forefront of virtually every technological innovation in the last century.
             As Mayor and Governor, I promoted the right public policies to strengthen
             our economy in an increasingly competitive world. My work in Richmond city
             government helped Virginia’s capital revitalize its business climate and
             receive accolades as a business-friendly city.
             When I was Governor, Virginia was in the top ten states for median income
             and had one of the lowest unemployment rates in the nation. We recruited
             many world-class companies to relocate their headquarters here even in the
                        midst of the worst recession in 70 years.
                                I have traveled across the Commonwealth as a Senate
                                  candidate holding economic roundtables and listening
                                  to business owners, workers, returning veterans, and
                                  unemployed Virginians as they share their thoughts
                                  about today’s economic challenges. The global
                                   competition keeps getting tougher and tougher. We can
                                        continue our role as an economic powerhouse.
                                           But we have to be willing to work together and
                                             make tough decisions to strengthen America.




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                                                                                             tim Kaine for Senate

THREE KEYS TO AMERICAN COMPETITIVENESS

To accomplish these goals, I’ll pursue a strategy that focuses on three key elements:
growth, talent, and balance.

Grow Business, Grow Jobs
By supporting initiatives to grow our businesses, we can create jobs and strengthen
our economic recovery. As Senator, I will work to increase access to credit and level
the playing field for small businesses. I’ll also support investments in infrastructure,
as well as a comprehensive energy policy that ensures Virginia can compete in the
emerging $2.3 trillion clean energy market. By taking these and other steps, including
enacting robust R&D policies, we can increase growth immediately.




Build a Talent Economy
America must win the race for talent. In order to compete in the global economy, we
need a long-term plan that produces the best workforce in the world. As Senator,
I will support investments and smart reform in education – from early childhood
development through college and workforce development programs. These actions will
guarantee the U.S. will continue to lead in innovation and job creation. And we must
leverage the incredible skills and leadership talents of America’s veterans to expand
our economy.




Balanced Budget, Balanced Politics
To accomplish our economic initiatives, we must work together to get our fiscal house
in order. When I was Mayor of Richmond and then Governor, I worked across the aisle
to make smart spending cuts and streamline government. As Senator, I’ll bring this
willingness to tackle real problems in a bipartisan way to Washington. We need to make
smart cuts and find targeted revenue in order to balance the budget. We can adopt
smart management practices to make sure that taxpayer-funded programs produce
strong value for our citizens. I’ll also work to increase transparency and civility in our
political process to encourage balanced solutions.




                                                                                                                3
    A VISION FOR OUR ECONOMIC FUTURE

       GROW BUSINESS, GROW JOBS
                      BeSt State for BUSineSS – Forbes

       During my tenure as Governor, Forbes named Virginia the “Best State for Business in America” four years in a row.
       Largely due to our high-quality workforce, we recruited numerous businesses to Virginia, including MeadWestvaco,
       Hilton, CSC, SAIC, and VW of North America. We attracted significant investments such as the new Rolls Royce facility
       in Prince George, Swedwood and Com.40 in Danville, Canon in Newport News, EDS in Mecklenburg County, Orbital
       Sciences on the Eastern Shore, Continental AG in Newport News, and AREVA NP in Lynchburg. We also won recognition
       as a great place to start a business and as the state with the highest percentage of workers in technology jobs. Virginia
       does things right, and our private sector leadership is engaged and innovative.
       Nationally, we have come through the worst economic downturn since the Great Depression. Our national Gross
       Domestic Product was shrinking by more than eight percent during the 2008-09 financial collapse.1 Today, while our
       economy is now growing at a rate of three percent,2 we need more robust growth in order to reduce unemployment.
       Growth doesn’t happen primarily because of government. Private sector innovation and consumer demand are the main
       drivers of growth, but the right public policies can accelerate growth. Here are nine critical growth strategies:


       Ease Access to Capital
       Businesses all over our state struggle to get loans to finance new hiring and expansion. The financial collapse led
       to tougher banking regulations to avoid future catastrophes, which was necessary. But in some instances, oversight
       made it more difficult for community banks to loan money to local businesses. We must give institutions that did not
       contribute to the financial crisis greater ability to lend money to qualified businesses.
       	           A
                 •		 s	Senator,	I	will	support	increasing	access	to	capital	through	more	effective	and	coordinated	regulation	that	
                   gives greater flexibility to community banks.
       	           I
                 •			will	also	work	to	allow	entrepreneurs	to	utilize	their	own	retirement	account	assets	in	the	formation	of	new	
                   businesses without undue penalties or unfavorable tax treatment.




       1
        U.S. Commerce Department, Bureau of Economic Development, “Real GDP Contracted at an Annualized Rate of 8.9% in the 4th Quarter of 2008.”
        January 27, 2012.
       2
        Department of Commerce, Bureau of Economic Analysis, “National Income and Product Accounts, Gross Domestic Product, 4th Quarter 2011 and
        Annual 2011.” March 29, 2012.


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                                                                                                tim Kaine for Senate




Level the Playing Field for Small Businesses
Small businesses are the backbone of the American economy and responsible for the creation of most new jobs.
Currently, our tax code is filled with lobbyist-driven loopholes that often benefit large companies, putting small or
start-up businesses at a disadvantage. It is common for small businesses to pay a higher percentage of revenue in
federal income taxes than larger businesses.
As Governor, I promoted efforts to help small businesses by streamlining common business registration paperwork so
they could compete with large companies for government contracts. I also promoted a dramatic expansion of state
contracting with small, women-, and minority-owned businesses. At the federal level, we need equal attention paid to
the success of our small business sector.
	         A
        •		 s	Senator,	I	will	support	efforts	to	place	all	businesses	operating	in	the	U.S.	on	a	level	playing	field	by	
          simplifying the federal corporate tax code, reducing rates, filling in industry-specific loopholes, and making
          sure all businesses contribute their fair share.
	         I
        •			will	support	extending	the	current	accelerated	depreciation	deduction	for	small	businesses	to	provide	
          continued incentives for capital investments to help businesses grow.
	         I
        •			will	work	to	make	sure	federal	procurement	practices	are	fully	transparent	and	open	so	small	and	start-up	
          businesses have complete information about how to compete for federal contracts.




                                                                                                                           5
    A VISION FOR OUR ECONOMIC FUTURE

       GROW BUSINESS, GROW JOBS (cont’d)
       Improve Our Infrastructure
       Investments in infrastructure create jobs immediately and build a platform for long-term economic success. The U.S.
       Department of Transportation estimates that for every $1 billion invested in infrastructure, about 27,800 jobs are
       created.3 Virginia is blessed with a marvelous international airport at Dulles, a thriving port in Hampton Roads, and one
       of the largest networks of state-maintained roads in the country. We’ve also been a leader in expanding rural broadband
       development through Tobacco Commission investments. But in recent decades, an anti-investment attitude has led our
       Commonwealth and nation to lag in infrastructure development. Returning to a philosophy of prudent infrastructure
       investment will grow the nation’s economy now and in the future.
       	            A
                  •		 s	Senator,	I	will	support	efforts	at	the	federal	level	to	fully	utilize	public/private	partnerships	to	creatively	
                    finance specific transportation projects.
       	            I
                  •			will	support	the	creation	of	an	Infrastructure	Bank	to	combine	public	and	private	resources	to	complete	
                    necessary projects.
       	            W
                  •		 e	must	end	the	practice	of	temporary	transportation	bills	and	commit	to	long-term	financing	strategies	that	
                    allow for more efficient and effective planning, decrease uncertainty among our businesses, and diversify
                    funding away from our overreliance on the gasoline tax.
       	            I
                  •		n	addition	to	roads	and	bridges,	I	will	support	efforts	to	ensure	that	federal	policies	give	consideration	to	
                    mass	transit,	broadband,	water	supply/sewers,	and	electrical	grids.
       	            I
                  •			will	support	the	Rehabilitation	of	Historic	Schools	Act,	which	will	make	previously	unaffordable	school	
                    renovations a possibility by giving tax credits to communities to partner with private sector developers. This
                    approach, which I championed as Mayor of Richmond, will create jobs and revitalize communities across the
                    country. Investment in our education infrastructure is essential for our future prosperity, and this bill takes a
                    great Virginia success to the national level.




       3
        U.S. Department of Transportation, Federal Highway Administration, “Employment Impacts of Highway Infrastructure Investment.” 2007.

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                                                                                                                                  tim Kaine for Senate



Support Comprehensive Energy Strategy
As Governor, I worked with the Virginia General Assembly to implement
the state’s first comprehensive energy policy. The goal is to find long-term,
sustainable energy sources that are affordable, native and clean. We used
an all-of-the-above approach that included conservation and efficiency
investments, new energy production using cleaner coal and natural gas
technologies, nuclear power, and support for exploration to assess Virginia’s
offshore gas reserves. We must put a greater focus on Virginia’s opportunities
to lead in the $2.3 trillion emerging global clean energy market.4
Today, the U.S. is producing more natural gas and petroleum than it has in
many years, and we are a net exporter of petroleum products for the first time
in decades.5 We are closer to energy independence than at any time in the last
20 years.6 We are making huge leaps forward in vehicle mileage efficiency,
which will reduce energy use in the transportation sector.7 But there’s more
work to do.
	          •	As	Senator,	I	will	support	continued	strategic	efforts	to	expand	domestic	energy	production.
	          •	We	should	end	subsidies	to	the	Big	5	oil	companies	that	are	seeing	record	profits	and	no	longer	need	our	help.
	            I
           •			will	work	to	end	federal	subsidies	for	inefficient	fuels	such	as	corn-based	ethanol	that	have	the	perverse	
             effect of driving up food prices for a negligible energy benefit.
	            W
           •		 e	should	invest	some	of	the	savings	from	eliminating	these	unnecessary	subsidies	into	promoting	research	
             and development of clean energy and smart grid technologies that will reduce pollutants and create jobs for
             American innovators and workers.
	            I
           •			support	passage	of	the	Virginia	Outer	Continental	Shelf	Energy	Production	Act,	introduced	by	Senator	Webb	
             and Senator Warner, which would allow for offshore drilling for oil and gas off of Virgina's coast. It would
             ensure that half of the leasing revenue goes toward conservation efforts, clean energy technologies, and
             infrastructure projects to develop our energy resources while planning for and investing in the future.



Buy American
American manufacturing accounts for $1.6 trillion (12 percent) of our nation’s Gross Domestic Product.8 But, in the last
decade, the U.S. lost 5.7 million manufacturing jobs – 33.1 percent.9 To spur our economy and support national security,
we must maintain a strong manufacturing sector. From cars to nanotechnology and robotics, the U.S. must be a leader
in manufacturing.
	            A
           •		 s	Senator,	I	will	support	Buy	America	provisions	and	work	to	close	loopholes	that	allow	non-American	made	
             products to qualify as “Made in the USA.”


4
 The Pew Charitable Trusts, Global Clean Power: A $2.3 Trillion Opportunity. December 2010.
5
 U.S. Energy Information Administration, Annual Energy Outlook 2012 (AEO2012). January 23, 2012.
6
  Bloomberg, “America Gaining Energy Independence with U.S. as Top Producer.” February 6, 2012.
7
 U.S. Department of Transportation, National Highway Traffic Safety Administration (NHTSA). Summary of Fuel Economy Performance. October 28, 2011.
8
 Alliance for American Manufacturing, Manufacturing a Better Future for America.
9
 Information Technology & Innovation Foundation (ITIF), Worse Than the Great Depression: What the Experts Are Missing About American Manufacturing Decline. March 19, 2012.   7
    A VISION FOR OUR ECONOMIC FUTURE

       GROW BUSINESS, GROW JOBS (cont’d)
       Increase Exports
       Ever since the Virginia Company settled Jamestown Island in 1607, Virginia has been a leader in international trade.
       Today, Virginia businesses have benefited tremendously from the operations at the Port of Virginia. With the expansion
       of the Panama Canal, the Commonwealth is poised to have even more opportunities to send American products to new
       markets. This is hugely important for the nation because domestic consumer demand is down from a peak during the
       unsustainable economic bubble of the last decade. We can’t rely on a return to overborrowing and overspending to help
       our nation achieve desired GDP growth. But if we can expand exports of American goods, individual businesses will
       access more customers in ways that will expand employment and reduce America’s unacceptable foreign trade deficit.
       Moreover, the U.S. Trade Representative estimates that “every $1 billion in new exports of American goods supports
       more than 6,000 additional jobs here at home.”10
       	            T
                  •		 he	Federal	Export-Import	Bank	doesn’t	prioritize	assistance	to	small	businesses	– only $6 billion of the
                    agency’s $33 billion budget went to small businesses in 2011.11 As Senator, I will work to increase the aid
                    that small businesses receive.
       	            I
                  •			will	advocate	that	the	federal	government	get	tough	with	foreign	nations	that	impede	our	exports	through	
                    trade barriers, currency manipulation, unfair labor and environmental standards, or unwillingness to protect
                    American intellectual property.


       Control Health Care Costs
       The Affordable Care Act contained tax credit provisions to help small businesses purchase health insurance for
       employees. And, a number of reforms in Medicare and Medicaid are beginning to shift our health care system from
       one where payment is based on the volume of procedures, to a better system that rewards health and other positive
       outcomes. But our system is still too expensive and makes it more and more difficult for companies to provide health
       care while competing in a global market.
       	            A
                  •		 s	Senator,	I	will	work	to	continue	to	squeeze	out	the	unacceptably	high	costs	
                    in the health care system by cutting back on administrative spending, which
                    costs the U.S. approximately $360 billion each year.12 Steps such as requiring
                    electronic eligibility, claims processing, and payment can save as much as
                    $40 billion annually.13
       	            I
                  •			will	support	efforts	to	allow	the	government	to	negotiate	Medicare	prescription	
                    drug prices. This action could save as much as $24 billion annually.14
       	            W
                  •		 e	must	reduce	waste,	fraud,	and	abuse	in	Medicare	and	Medicaid,	which	
                    totaled $70 billion in 2010.15 By improving data sharing technology and giving
                    incentives to insurance companies to identify fraud, we can further
                    cut costs.


       10
         United States Trade Representative, “President Obama Signs Trade Agreements and Trade Adjustment Assistance Into Law.” October 21, 2011.
       11
         Export-Import Bank of the United States, 2011 Annual Report. December 20,2011.
       12
         The Institute of Medicine, Roundtable on Evidence-Based Medicine, The Healthcare Imperative: Lowering Costs and Improving Outcomes: Brief Summary of a Workshop. 2010.
       13
         Center for American Progress, “Cut Administrative Costs in the Health System.” October 26, 2011.
       14
         National Committee to Protect Social Security and Medicare, Data Analysis Brief, “Price Negotiation for the Medicare Drug Program: It is Time to Lower Costs for
         Seniors.” October 2009.
       15
         U.S. Department of Health and Human Services, Center for Medicare & Medicaid Services, FY 2010 Agency Financial Report. 2011. Figure does not include
         Medicare Part D prescription drug program or Children’s Health Insurance Program.
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                                                                                                                             tim Kaine for Senate



Jumpstart the Housing Market
The housing market is key to the economy, and our economic recovery will not be sufficiently robust without strong
pro-housing policies. The construction and renovation of housing drives neighborhood values and has a huge impact on
state and local revenue collections, which then fuel services that citizens rely on.
	              A
             •		 s	Senator,	I	will	carefully	reassess	the	federal	government’s	critical	role	in	housing	finance.	Freddie	Mac	
               and Fannie Mae, at their best, have played an important role in holding down financing costs both in the
               single-family and multi-family markets. It is important to reform and depoliticize these institutions so they
               can continue this important function.
	              I
             •			will	support	the	Low-Income	Housing	Tax	Credit	(LIHTC),	which	plays	a	key	role	in	the	construction	and	
               rehabilitation of rental housing. From its start in 1987 until 2009, this tax credit supported 33,777 projects
               and placed almost 2,203,000 housing units in service. 16
	              I
             •			will	also	encourage	housing	agencies,	like	the	Virginia	Housing	Development	Authority,	that	utilize	federal	
               housing programs and adapt them to local market needs and conditions.
	              I
             •			will	support	changes	to	the	bankruptcy	code	to	treat	home	mortgages	the	same	as	other	assets,	allowing	
               appropriate write-downs if homeowners have exhausted other options. This action will make it easier for
               families to stay in their homes and aid our economic recovery.



Support Research & Development
In order for the U.S. to compete on the global stage, we must give priority to research and development investments. In
addition to creating new products and concepts, innovation increases efficiency and is largely responsible for economic
growth. INSEAD ranked the U.S. seventh on the Global Innovation Index in 2011.17 We must renew our commitment
in this area. From the invention of the airplane by the Wright brothers to the creation of the Internet at the Defense
Advanced Research Projects Agency (DARPA) and the Global Positioning System (GPS) at the Department of Defense, the
U.S. leads in innovation and must continue to do so.
	              A
             •		 s	Senator,	I	will	support	a	permanent	extension	of	the	research	and	development	tax	credit	to	give	our	
               companies the assurance they need to make real investments in innovation.




     U.S. Department of Housing and Urban Development, LIHTC Database, 1987-2009. September 22, 2011.        INSEAD, The Global Innovation Index 2011.
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16                                                                                                      17
 A VISION FOR OUR ECONOMIC FUTURE

     BUILD A TALENT ECONOMY
                    BeSt State to raiSe a CHiLD – education Week

     America must resolve to again be the most talented nation on earth. After the GI Bill greatly expanded higher education
     access in the aftermath of World War II, our nation became the best-educated nation as measured by the percentage
     of adults who earn some post-high school diploma or credential. But today we’ve slipped to 16th in the world in the
     percentage of 25-34 year olds achieving post-high school degrees.18 If we fix everything else, but do not return America
     to its status as the best-educated nation, we will cede our role as the most dynamic economy on earth.
     Virginia has shown that you can transform an economy by winning the race for talent. In the 1950s, Virginia was a low
     income/low	education	state.	To	move	forward,	we	made	the	decision	to	embrace	talent,	end	school	segregation,	allow	
     women full higher-educational opportunities, expand and improve our network of universities, build an infrastructure of
     community colleges around the state, and reform the curriculum in our schools. The result was an economic boom that
     moved Virginia to the top tier among states in income and education levels. We achieved this success because we grew
     our own talent, attracted talent from around the country and around the world, and then became a go-to location for the
     businesses and institutions that wanted to locate near talented and productive people.
     In one of my first speeches as Governor, I said, “when we lead the way in education, we have better tools to keep our
     economy strong,” and that guided me throughout my term. We expanded the number of children in pre-K by nearly
     40 percent,19 instituted teacher evaluations to promote excellence in our schools, reduced the achievement gap for
     Latino students,20 and passed the largest higher education bond package in Virginia history to modernize facilities
     at colleges and universities across Virginia. No wonder Education Week declared in 2007 that Virginia was the state
     where a child born “is significantly more likely to experience success throughout life than the average child born in the
     United States.”21 We need to pursue the same strategies at the national level, not to supplant the role of state and local
     governments, but to make sure we have a national talent strategy that matches and exceeds our global competitors.




     18
       OECD, Education at a Glance 2011. September 13, 2011.
     19
       Daily News Leader. December 9, 2009.
     20
       Washington Post, “ESOL Students in D.C. Area Narrow Achievement Gap.” February 28, 2009.

10     Education Week. January 3, 2007.
     21
                                                                                                   tim Kaine for Senate




Excel in Early Childhood Education
The research clearly demonstrates high-quality early childhood opportunities help children succeed. That’s why we
expanded participation in Virginia in early childhood programs by nearly 40 percent22 even as we were making over
$5 billion in budget cuts.
	              A
             •		 s	Senator,	I	will	support	putting	all	early	childhood	funds	under	coordinated	management	so	we	can	make	
               sure we truly invest in high-quality opportunities for the greatest number of children. We should take the
               different federal funding streams and make sure all monies—whether pre-kindergarten, Welfare-to-Work or
               Head Start—are directed in ways so that the educational quality is the top criterion.


Revise No Child Left Behind
NCLB was a step forward because it made us dig beneath state and local educational averages to confront regional and
demographic disparities in educational performance. Increases in national graduation rates are one indication of the
success of NCLB. But, NCLB needs significant changes if we are to have world-class educational achievement.
	              T
             •		 he	law	is	too	focused	on	minimum	competence	tests.	As	Senator,	I	would	push	for	revisions	that	focus	
               more on finding and enhancing each child’s excellence, with more individual attention than a traditional
               “one-size-fits-all” approach. The federal government should support these curricular innovations financially
               rather than make them top-down, unfunded federal mandates. And, we should create a vigorous culture of
               local experimentation. NCLB has been applied in a rigid way that is more focused on process than results and
               outcomes. States and localities that demonstrate strong outcomes should be allowed maximum flexibility in
               meeting curricular benchmarks.



Promote State Competition
State policymakers watch competitive rankings of business climate, management performance, test scores, and other
outcomes. When a state doesn’t stack up well compared to other states, there is a strong incentive for improvement.

	              A
             •		 s	Senator,	I	will	lead	the	creation	of	an	independent	commission	of	stakeholders,	including	teachers,	to	
               create a report card of all state school systems every three years on a variety of outcomes – adoption of
               college- and career-ready curriculum standards, assessment practices, teacher qualifications, and student
               performance. This kind of evaluation would ultimately reflect how seriously policymakers are taking the
               mission of providing top quality education for their citizens and inspire stronger local and state efforts.




22
     Daily News Leader. December 9, 2009.

                                                                                                                              11
 A VISION FOR OUR ECONOMIC FUTURE

     BUILD A TALENT ECONOMY (Cont’d)

     Support Our Nation’s Teachers
     Teachers have one of the most important jobs in our nation – educating tomorrow’s workforce. We must encourage
     teachers’ ongoing education to ensure our children receive the best education possible.
     	                A
                    •		 s	Senator,	I	will	ensure	teachers	have	access	to	the	professional	development	and	certification	programs	
                      that will provide them with the tools and support to meet daily challenges. I will support programs such
                      as the National Board for Professional Teaching Standards that allow teachers to continually improve
                      their skills.




     Elevate the Importance of Career and Technical Education (CTE)
     The nation has undervalued the importance of career and technical programs. I served as principal of a technical
     school in Honduras in the 1980s, and I helped develop nine Governor’s Career and Technical Academies in
     Virginia during my term.23 We need to educate more students about the broad variety of career options and make
     available the right kinds of training opportunities at an early age. In my travels around the state, I still find
     companies with advanced manufacturing jobs that go unfilled because of the lack of workers who’ve been trained
     in the right disciplines.
     	                J
                    •		 ust	as	the	nation	celebrates	high-achieving,	college-bound	high	school	students	each	year	with	the	
                      Presidential Scholars program, as Senator I would support efforts to also celebrate achievement by high
                      school students in technical and career programs with a Congressional Technical Excellence recognition.
     	                I
                    •			will	support	full	funding	of	the	Carl	D.	Perkins	Career	and	Technical	Education	Act,	which	will	make	sure	
                      students have the chance to attend high-quality CTE programs and are prepared for successful careers.



         23
              2010 State of the Commonwealth Address. January 14, 2010.

12
                                                                                                       tim Kaine for Senate




Expand College Access
Virginia’s higher education system has been the key contributor to our efforts to build a Talent Economy. I was proud to
serve as the Co-Chair of the 2002 Higher Education Bond Campaign that put $900 million into expanding the state’s
higher education system. As Governor, I led passage of an additional $1.4 billion bond package in 2008 to expand
classrooms and labs – the largest investment of its kind in Virginia’s history. We must have an equally robust effort to
expand college access and degree attainment across the nation.
	         T
        •		 he	significant	expansion	of	the	Pell	Grant	program	is	one	of	the	best	achievements	of	the	last	decade.	We	
          need to make sure that more students can afford college. As Senator, I will work to increase access to higher
          education and preserve programs that increase the affordability of higher education, like the Pell Grant program.
	         I
        •			will	also	recommend	that	the	Department	of	Education	work	with	college	presidents	to	publish	best	
          practices of the universities and community colleges that excel at delivering high-quality education at a
          reasonable price.




	
Empower Those with Disabilities
Sometimes policy gets in the way of folks with disabilities fully offering their talents. I served as Chair of the Virginia
Disability Commission, and worked with state officials to incentivize construction of accessible housing and allow
“buy-in” to Medicaid if salaries exceeded federal limits. In other instances, disability policy offers important lessons for
broader reforms. Every child deserves specialized instruction and support to meet their unique needs.
	       •	As	Senator,	I	will	always	look	at	federal	policies	to	make	sure	they	are	fully	inclusive	of	the	talents	of	all	citizens.




                                                                                                                                     13
 A VISION FOR OUR ECONOMIC FUTURE

     BUILD A TALENT ECONOMY (Cont’d)




     Streamline Federal Workforce Development Programs
     A recent study by McKinsey Global Institute surveyed 2,000 firms nationally and found that 40 percent had positions
     open for at least six months because they could not find qualified workers.24 International Monetary Fund economist
     Prakash Loungani estimates that 25 percent of unemployment is structural, i.e. caused by a mismatch between
     employer needs and the skills of available workers. In other words, over 3 million more people would be employed if
     we fix this problem.25
     We have to do a better job of leveraging the sizable federal workforce development investment into a streamlined
     system that is simpler for workers and companies. At the state level, I confronted and simplified a system that provided
     workforce training opportunities in a dozen agencies spread among four cabinet secretaries. The organizational model
     is even more complex at the federal level. This not only leads to confusion, but the absence of a single, accountable
     public official charged with workforce programs makes it difficult to achieve the best outcomes.
     	              A
                  •		 s	Senator,	I	will	work	to	restructure	the	federal	effort	to	promote	simplicity,	transparency	and	clear	
                    accountability. There is a disconnect between the skills taught and the needs of employers. We need reforms
                    to better align planning and spending with the needs of tomorrow’s workforce.
     	              I
                  •			will	also	work	to	foster	skills	partnerships	between	community	colleges,	school	systems,	career	and	
                    technical programs, workforce boards, and employers to create programs that meet the needs of local areas.




     24
         McKinsey Global Institute, An Economy That Works: Job Creation and America’s Future. June 2011.
     25
         International Monetary Fund, New Evidence on Cyclical and Structural Sources of Unemployment. May 2011.

14
                                                                                                 tim Kaine for Senate




Leverage Veteran Talent
America’s military veterans have remarkable skills. When they finish active duty, they take technical proficiency and
leadership experiences into every community in the nation. But too often they confront a civilian economy that doesn’t
understand their unique talents. This becomes more acute as a smaller and smaller percentage of the population has
served in the military. Unacceptable unemployment rates for veterans demonstrate the need for better understanding
the unique talents that veterans offer.
	         A
        •		 s	Senator,	I	will	work	with	the	Department	of	Defense	to	establish	a	basic	protocol	so	that	active	duty	
          military members receive meaningful and transferable civilian credentials and certifications for skills that
          they obtain during service. I will also work to educate civilian employers about the skills that veterans bring
          into the workplace and model the right behavior by hiring veterans in my own office.



Attract & Retain Global Talent
For far too long, the important issue of comprehensive immigration reform has been used as a political football. Our
nation needs a strategy that promotes border security while remaining focused on our goal of being the most talented
nation on earth. The attacks of September 11, 2001 revealed serious flaws in our immigration system. But, in response,
we unintentionally made it harder for the best minds in the world to come to this country to study. We have also made it
more difficult for successful students to remain in this country after school and create businesses and jobs.
	         A
        •		 s	Senator,	I	will	support	immigration	reform	that	encourages	individuals	of	talent	and	persistence	to	grow	
          opportunities here rather than take their skills and leave the country.
	         I
        •		ndividuals	who	broke	the	law	by	entering	this	country	illegally	should	face	consequences,	including	a	
          financial penalty that can be applied to increasing our border security, but we must also ensure that our
          reforms serve the goal of making America a magnet for global talent and the jobs that come with it.




                                                                                                                            15
 A VISION FOR OUR ECONOMIC FUTURE

     BALANCED BUDGETS, BALANCED POLITICS
                              BeSt manaGeD State – GoverninG MaGazine

     In 2008, Virginia was ranked as the best managed state in America by Governing Magazine. We were one of seven
     states to have a coveted Triple A bond rating from all major ratings agencies.26 Virginia achieved these accolades
     because we approach policy and politics in a balanced way that seeks common ground. Balance in budgetary policy is
     needed at the national level. But, we also need a balanced and civil approach to politics, because the best ideas will
     not get any traction unless parties and individual senators choose to work together and find common ground in solving
     our big challenges.
     The federal deficit is a pressing problem. During my term as Governor, we faced the worst national economic period
     since the Great Depression. In order to balance Virginia’s budget, we cut over $5 billion in state spending, including
     my own pay. I made major spending cuts as Governor and left office with a smaller state general fund budget than the
     one I inherited four years earlier. I know how to make spending cuts. But we will never get to balance through budget
     cuts alone. Too many senators pledge allegiance to Grover Norquist and foreswear ever seeking new revenue to help the
     nation meet its priorities. Such pledges are irresponsible gimmicks. The Senate needs statesmen and stateswomen who
     know how to balance spending discipline with wise investment decisions like the ones families and businesses make
     every day.




      JLARC Report, Virginia Compared to the Other States. 2010.
     26




16
                                                                                                        tim Kaine for Senate




Smart Spending Cuts
We currently spend about $3.6 trillion each year while our revenues total only
about $2.3 trillion annually.27 We must make sizable cuts to federal spending.
I am the only Virginia Senate candidate who has actual experience making
real cuts in government spending. Cuts need to occur at every level. We need a
targeted approach that promotes those programs that are achieving important
goals, while cutting or eliminating those programs that aren’t succeeding or that
are addressing outdated goals.
	              A
             •		 s	Senator,	I	will	support	efforts	to	go	into	every	area	of	
               federal spending and find smart savings. We should not use
               across-the-board cuts because everything is not equally important or valuable. Those types of cuts do
               nothing to create incentives for government agencies to outperform other agencies and look for operating
               inefficiencies. In Virginia, we made billions in budget cuts through examination of performance data and
               careful judgment of government priorities. The same approach is needed in Washington.
	            •	Two	of	the	largest	items	in	the	federal	budget	are	defense	and	Medicare	spending:
                          In defense, we need to examine a Cold War-era base structure that still has tens of thousands of
                           American troops in Europe, more positioned to fight past wars than to handle security challenges
                           of today and tomorrow. Just as the new Ford Class aircraft carriers being built at the shipyard in
                           Newport News will operate with fewer sailors due to technology advances, we need to look at wise
                           technology investments that will reduce personnel needs.
                          In Medicare, we must get rid of the provision that blocks government from negotiating with
                           pharmaceutical companies over the costs of prescription drugs for over 27 million seniors who are
                           covered by Medicare Part D.28




27
    White House Office of Management and Budget (OMB). FY 2013 Budget.
    The Henry J. Kaiser Foundation, “Medicare: A Primer.” April 2010.
                                                                                                                                17
28
 A VISION FOR OUR ECONOMIC FUTURE

     BALANCED BUDGETS, BALANCED POLITICS (Cont’d)

     Revenues
     We cannot eliminate our deficit just through spending cuts. If we do, we’ll choke off economic growth and harm key
     priorities for the public like education, defense, Medicare, and Social Security. We’ll especially hurt the Virginia economy,
     which is interconnected with federal spending. I believe we should make two to three dollars of cuts for every dollar of
     revenue that we raise. But we do need to raise revenue to help reduce the country’s deficit and balance our budget.
     	          A
              •		 s	Senator,	I	will	support	letting	the	Bush	Tax	Cuts	– which were always intended to be temporary – expire
                at the top end of the income scale. The cuts in federal spending I describe above will fall hardest on
                middle- and lower-income people, so the elimination of tax cuts for those making over $500,000 each year
                will make sure that everyone is participating in deficit reduction.
     	          I
              •			will	support	eliminating	unnecessary	tax	subsidies	for	big	oil	companies	and	others	who	do	not	need	
                taxpayer help.
     	          A
              •		 nd,	I	will	work	to	level	the	playing	field	in	corporate	taxation	by	making	sure	that	small	businesses	do	not	
                pay a greater share of their earnings in taxes than larger firms. We need a tax code that doesn’t require a
                business to have a phalanx of lobbyists, tax accountants and attorneys to be treated fairly.




     Performance Improvement
     Citizens want to know not just what government is spending but also whether the spending is making a real
     difference. Virginia implemented a transparent Virginia Performs management tool so that citizens could look at
     overall governmental goals as well as the particular goals of each department of state government in order to see
     whether agencies were accomplishing their objectives and finding paths for improvement. The Virginia Performs
     initiative played a key role in helping reform the state’s foster care system, the issuance of mining permits, better
     coordination of workforce development programs, the reduction of waiting times in DMV offices, and other important
     priorities. The system helped Virginia develop a small business “one stop” operation to make it easier for small
     businesses to incorporate and get startup assistance. And, our performance system helped us make difficult budget
     cutting decisions the right way.
     	          A
              •		 s	Senator,	I	will	work	to	create	a	publicly	accessible	management	system	for	the	federal	government	–	
                modeled on the Virginia Performs management tool – that makes sure we are getting every dollar of value
                out of our tax investments in each public program.
18
                                                                                                  tim Kaine for Senate




Political Reform
Part of the reason our budget is so imbalanced is that we tolerate a “pay to play” political culture where policy
decisions are driven by campaign financing imperatives. We need easy-to-understand campaign finance reform
to stop the slide of our system to one disproportionally controlled by donors whose contributions are shielded from
public disclosure.
	         A
        •		 s	Senator,	I	will	support	a	simple	reform	that	requires	full	transparency	of	any	contribution	to	affect	either	
          legislative advocacy or federal electoral activity with uniform contribution limits. Thomas Jefferson famously
          said, “light and liberty go together.” We need meaningful campaign finance reform to have the open and
          transparent system that our citizens deserve.



Return to Civility
If we have the best ideas about economic growth, or balancing
our budget, but cannot find common ground because of excessive
partisanship, we will not fix the dysfunction in Washington. Our ability to
tackle the big problems facing our country will require people who know
how to work together for the common good. As Mayor of Richmond and
then as Governor, I worked with members of both parties to move Virginia
forward. While we didn’t agree on everything, we made major progress
in important areas like public transit, health care, investments in
higher education facilities, cutting taxes, and open space preservation.
Virginians expect no less from our Senators. John Warner played a key
role in a Gang of 14 in the Senate, helping break logjams on important
policy and personnel issues. Mark Warner plays a similar role in the
current Gang of 6 that seeks fiscal balance.
	         A
        •		 s	Senator,	I	will	always	work	to	define	and	address	problems	in	ways	that	make	it	easier	for	Senators	to	work	
          together on solutions. I will work with bipartisan coalitions in the Senate to make our political institutions
          more about solutions than Washington gamesmanship.




                                                                                                                              19
                  K a i n e f o r VA . c o m




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vision for our economic future,
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