Jobs & the Economy
Tim is focused on creating economic opportunity for all Virginians. He believes that by improving education and job training, supporting small businesses, raising wages, providing tax relief to low- and middle-income families, and investing in new industries, the United States will continue to be a global economic leader.
Throughout his work in the Senate, Tim has become a leading voice for strengthening the job training programs Americans need to 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 and has championed legislation—including bills that have become law—to expand students’ access to high-quality CTE programs and help prepare American workers for jobs in the modern economy, including in the cybersecurity industry.
Tim sees small businesses as the drivers of job creation and economic growth in Virginia and across the nation. He has successfully passed legislation, including the American Rescue Plan Act, to help them grow and thrive by increasing their access to capital and lowering barriers to entry for minority entrepreneurs. 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 was also proud that the Infrastructure Investment and Jobs Act, which he helped pass in 2021, included his legislation to expand support for minority-owned businesses in rural areas. That legislation also marked the largest investment in America’s infrastructure needs in generations, creating jobs in Virginia and across the country by repairing roads, bridges, airports, ports, waterways, water treatment facilities, expanding access to broadband, and boosting climate resiliency.
Tim continues to work to build an economy that works for everyone and has sponsored legislation to raise the minimum wage to $15 per hour because he believes no one working full time should live in poverty. He also has supported smart tax reforms to provide relief to working Americans and make our tax system fairer and simpler. He helped pass the Inflation Reduction Act to make sure that the largest corporations and wealthiest Americans pay their fair share in taxes.
Tim has long advocated for the resources Virginia needs to continue being a leader in business and industry, including in the manufacturing of semiconductor chips. In 2022, he was proud to help pass the Chips and Science Act, legislation that will provide support for domestic chips production and science research—a win-win-win for job creation, America’s national security, and reducing supply chain bottlenecks. As a manufacturing and research hub, Virginia is uniquely well-positioned to benefit from this legislation.
Virginia has served as a model for the nation by prioritizing investments in education and workforce training, as well as embracing global fair trade, which led to the international expansion of Virginia businesses. Tim believes that we can strengthen America’s economic recovery and create jobs by embracing the growth strategies that have worked in the Commonwealth. Tim served as Governor of Virginia during the worst recession since the Great Depression. Throughout his term, Virginia maintained one of the lowest unemployment rates in the nation, and Tim helped recruit several major employers to move to the Commonwealth. During his tenure as Governor, Virginia was named the best state for business in America.