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Tim Kaine Vs. George Allen On Economic Issues

8:52 PM, Oct 24, 2012   |    comments
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(WUSA) - The Virginia Senate race is heating up with just 13 days left until the election.

9News's Peggy Fox is tracking where George Allen and Tim Kaine stand on the issues.  

JOB CREATION

How would you create jobs as a United States Senator?    Here's Tim Kaine's answer.

"First, level the playing field for small businesses.   The job creators are not Exxon Mobile.  The Big tax breaks to big oil companies that doesn't create jobs.   Second, I'd build more.  Investments and infrastructure, you know like Rail to Dulles or highway so bridge, or the broad band roll out."

George Allen says cutting taxes and regulations will create jobs.

"Reducing  the tax to a more flat simple fair and competitive tax  20 percent, 500,000 jobs will be created a year.    There's too many onerous burdensome regulations what are an impediment for business small business.  Particularly Obamacare.  "

OBAMACARE

That's why Allen says he's out to repeal and replace the Affordable Health Care ACT. 

"Obamacare is an impediment to any business that is anywhere near 50 employees.  Doesn't want to get anywhere near 50.    I'm one who is a strong proponent of affordable for personal portable health politices and have your  own health care savings account."

Tim Kaine:  "To repeal the Affordable Care Act, that would be a bad thing.  You would take kids who are 21 to 26 and you'd kick them off their family policies.  The Affordable Care provided seniors free preventative care under  Medicare and helped them with prescription drug prices, suddenly, they're not going to get that."

BUSH ERA TAX CUTS

President Obama favors letting the Bush era  tax cuts expire   for those making $250,000 or more.   Tim Kaine wants the threshold raised to income levels at  $500,000, and put the revenue toward budget cuts, reducing the impact of the  Sequestration's  $1 trillion of cuts to both defense and domestic spending.  

Tim Kaine: "If we let the bush era tax cuts expire over 500-thousand.    We don't have to make  a trillion dollars worth of cuts, we have to make 500 billion worth of cuts."

 SEQUESTRATION

George Allen:  "The paramount responsibility of the Federal government is defense.  We ought not to be cutting national security.   What's needed is, these cuts need to be stopped.  There are a variety of ways to cut spending."

Allen is opposed to tax increases.

Allen: "We have a weak fragile economy, raising taxes doesn't create more jobs. Except maybe at the IRS. " 

Both candidates' positions are closely aligned with their parties' presidential candidates. Neither Allen nor Romney give details of what they might cut to balance the budget, since they're opposed to raising taxes. Allen says allowing more coal mining and off-shore drilling will create a manufacturing renaissance, and make tax increases unnecessary.

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