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Jobs and the Economy

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 re-introduced the Startup Act 3.0 to encourage investment in new businesses and help accelerate the commercialization of university research. This legislation would also create Entrepreneur Visas and STEM Visas for highly-educated and entrepreneurial immigrants to stay and create jobs in the United States.
  • The Senate Finance Committee passed the bipartisan Startup Innovation Credit  which is based on language included in Senator Warner’s Startup Act 3.0. The Startup Innovation Credit allows startups to claim the popular Research and Development tax credit, helping startups jumpstart the economy by growing their business and creating new jobs.
  • Senator Warner has hosted a series of events across Virginia examining how crowdfunding can be used as a tool to increase startup businesses’ access to capital, and to help grow existing small and medium-sized businesses.
  • Senator Warner co-sponsored the bipartisan Building a Stronger America Act of 2012 (S. 3479) to strengthen the American manufacturing by ensuring that trade laws are enforced and streamlining federal trade and export programs. This legislation included provisions from Senator Warner’s America Recruits Act (S. 1247), a bipartisan effort to create of new manufacturing jobs here in America through competitive grant programs and strengthen worker training and industry certification programs.
  • 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.

Recent News on Jobs & the Economy

Here is what Senator Warner has been doing recently regarding job creation and economic recovery:

Tweeting the #fiscalcliff

Senator Warner held another Twitter town hall on Tuesday, fielding questions from constituents across the Commonwealth on issues as diverse as the taxes, education and energy -- and even UVa’s football struggles during their 4-8 season.

But the main topic of discussion was the fiscal cliff, an issue that Senator Warner has emphasized for months. He believes the challenge requires a broad and bipartisan resolution in order to ensure that the nation’s economy has a sound foundation for growth as we move forward.

It was clear during the town hall that Virginians from both sides of the aisle grasped the magnitude of the impending crisis, and were deeply concerned about how failing to resolve this issue could impact the things most important to them.

Andrew McElwain, voicing the concerns of many Virginians, asked:

Paul Blair asked Senator Warner:

Throughout, Senator Warner sought to emphasize the importance of getting the fiscal cliff resolved before the new year in a bipartisan way, and the negative impact of inaction on vital issues like education and national security. However, he also took time to answer questions about local economic issues and Virginia’s outlook for bringing in new industry. Sen. Warner wrote:

Senator Warner also discussed specific legislation he had proposed to address these issues and bring new jobs to the commonwealth, including Startup 2.0, which focuses on attracting and retaining entrepreneurial talent to create jobs and finding new ways to give entrepreneurs access to capital, whether their business is located in Northern Virginia or Southside Virginia.

The Twitter town hall format gave Senator Warner the opportunity to interact directly with his constituents, and reinforced his belief that Virginians on both sides of the aisle recognize the importance of the issues and want their voices to be heard. The diversity of opinion among those who participated also confirmed Senator Warner’s long-held belief that there is no “Republican only” or “Democrat only” solution to the debt and deficit challenge.

Here are some helpful links:

  • Recovery.gov

    The Obama Administration's website for the federal grant awards and contracts from the 2009 American Recovery and Reinvestment Act

  • FinancialStablility.gov

    A site from the Treasury Department that brings transparency and clarity to the plan to shore up our financial system

  • Stimulus.Virginia.gov

    The state government's website that tracks the distribution and allocation of recovery package funds by the Commonwealth of Virginia to local communities and organizations

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