Jobs & the Economy
Tim is focused on creating economic opportunity for all Virginians. He believes that the United States can continue to be a global economic leader by improving education and job training, supporting small businesses, raising wages for working Americans, cutting taxes for low- and middle-income families, and investing in new industries.
Throughout his time in the Senate, Tim has been a leading voice for strengthening job training programs to help more Americans access good-paying, in-demand jobs that put them on a path to economic success. Drawing from his experience in Virginia, Honduras, and his dad’s ironworking shop, Tim cofounded the bipartisan Career and Technical Education (CTE) Caucus. He has championed legislation—including bills that have become law—to expand students’ access to high-quality job training programs and help prepare American workers for jobs in the modern economy. He has introduced the bipartisan Jumpstarting Our Businesses by Supporting Students (JOBS) Act to allow students to use Pell Grants to afford high-quality, short-term job training programs for the first time.
Tim has prioritized policies to grow the economy and create jobs. He was proud to have helped pass the bipartisan Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law, in 2021. The law, which marked the largest investment in America’s infrastructure in generations, is expected to create hundreds of thousands of jobs per year. In 2022, Tim also voted for the Inflation Reduction Act—which passed in the Senate by one vote—and helped pass the bipartisan CHIPS and Science Act, both of which will create clean energy and manufacturing jobs.
Tim sees small businesses as the backbone of the American economy, and he has successfully passed legislation to support small businesses in Virginia and across the nation. The American Rescue Plan Act, which Tim helped pass, increased small businesses’ access to capital and lowered barriers to entry for minority entrepreneurs. Tim successfully pushed for permanent authorization of the Minority Business Development Administration, including his Reaching America’s Rural Minority Businesses Act, as part of the Bipartisan Infrastructure Law.
Tim continues to work to build an economy that works for everyone and has sponsored legislation to raise the minimum wage to $17 per hour because he believes no one working full time should live in poverty. He also has supported reforms, including provisions in the Inflation Reduction Act, to cut taxes for working Americans and make sure the largest corporations and wealthiest Americans pay their fair share in taxes.
Tim is concerned about the largest banks getting bigger while the number of small community banks continues to decline. He supported legislation to prevent this consolidation and expand consumer protections for servicemembers, veterans, those with impaired credit, seniors, and people hurt by data breaches. This legislation was signed into law and has helped Virginians in rural and underserved communities secure loans to buy a home, send their kids to college, and start small businesses.
Tim has long advocated for resources to ensure Virginia continues to be a leader in business and industry, including the manufacturing of semiconductor chips. He has successfully pushed for investments for the Port of Virginia to strengthen supply chains. He remains committed to ensuring Virginia continues to benefit from legislation he helped pass, including the Bipartisan Infrastructure Law, bipartisan CHIPS and Science Act, and Inflation Reduction Act.
As a former fair housing attorney, Tim knows that a home is more than just a place to sleep. It’s part of the foundation on which a family can build a life. That’s why Tim has continuously pushed to build more housing, including affordable rental housing, and to open up opportunities for new generations of Americans to become homeowners. His Fair Housing Improvement Act would ban discrimination against renters and homebuyers on the basis of source of income or military or veteran status.
Tim served as Governor of Virginia during the worst recession since the Great Depression. During his tenure as Governor, Virginia maintained one of the lowest unemployment rates in the nation, and Virginia was named the best state for business in America. Tim also helped recruit several major employers to move to the Commonwealth.