Results tagged “Economy”

May 31, 2013

The Virginian-Pilot reports, "The second year of automatic cuts in federal spending will hit Virginia and the defense-dependent economy of Hampton Roads harder than most parts of the country, U.S. Sen. Tim Kaine said Thursday. The Virginia Democrat, who was touring Norfolk Naval Shipyard in Portsmouth, noted that unless Congress intercedes, the spending reductions will affect a range of government services."

Progressive Point: We need leaders who treat the challenges Virginians face with urgency -- not politicians who downplay job losses like they're just another political matter. Virginia families are already feeling the effects of furloughs and devastating cuts to our home front investments, but unless our leaders fix the sequester these effects will go from bad to worse.

The sequester means laying off the Americans who keep our country running -- from law enforcement to teachers -- and taking money out of the pockets of regular people who keep our stores thriving and hiring. And while Congress keeps protecting special breaks for big corporations, Virginians will be struggling with layoffs, closures, cuts to health care and education, and more. It's past time for our leaders to put our families first. Tell them to end the sequester now.

Get the Facts:

• "California, Texas and Virginia will be the worst hit, with each state losing more than $15 billion in GDP as a result of the sequester. But when the same amount is expressed as a percentage of that state's GDP in 2011, it's smaller states like New Mexico, Maryland and Virginia, as well as the District of Columbia, which all top the list. Interestingly, both Maryland and Virgina are pretty high up on the list whether you look at loss of GDP as a simple dollar amount or as a percentage of 2011 GDP." (Business Insider, February, 2013)


• "Officials at Hampton Roads Planning District Commission announce that 1,600 jobs in the region's health care sector will disappear. 'It won't be job cuts,' said James A. Clary, an economist with the group. 'It will be not filling the positions.'" (Huffington Post, April 2, 2013)


• Whitehouse.gov reports that sequester will impact Virginia in the following ways this year:
  
  
  • Teachers and Schools: Virginia will lose approximately $14 million in funding for primary and secondary education, putting around 190 teacher and aide jobs at risk. In addition about 14,000 fewer students would be served and approximately 40 fewer schools would receive funding.
    
    
    • Education for Children with Disabilities: In addition, Virginia will lose approximately $13.9 million in funds for about 170 teachers, aides, and staff who help children with disabilities.
  
  
  • Work-Study Jobs: Around 2,120 fewer low income students in Virginia would receive aid to help them finance the costs of college and around 840 fewer students will get work-study jobs that help them pay for college.
  
  
  • Head Start: Head Start and Early Head Start services would be eliminated for approximately 1,000 children in Virginia, reducing access to critical early education.
  
  
  • Protections for Clean Air and Clean Water: Virginia would lose about $2,997,000 in environmental funding to ensure clean water and air quality, as well as prevent pollution from pesticides and hazardous waste. In addition, Virginia could lose another $826,000 in grants for fish and wildlife protection.
  
  
  • Military Readiness: In Virginia, approximately 90,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $648.4 million in total.
    • Army: Base operation funding would be cut by about $146 million in Virginia.
    • Air Force: Funding for Air Force operations in Virginia would be cut by about $8 million.
    • Navy: Cancel the maintenance of 11 ships in Norfolk, defer four projects at Dahlgren, Oceana,and Norfolk, and delay other modernization and demolition projects.
  
  
  • Law Enforcement and Public Safety Funds for Crime Prevention and Prosecution: Virginia will lose about $276,000 in Justice Assistance Grants that support law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.
  
  
  • Job Search Assistance to Help those in Virginia find Employment and Training: Virginia will lose about $348,000 in funding for job search assistance, referral, and placement, meaning around 18,390 fewer people will get the help and skills they need to find employment.
  
  
  • Child Care: Up to 400 disadvantaged and vulnerable children could lose access to child care,which is also essential for working parents to hold down a job.
  
  
  • Vaccines for Children: In Virginia around 3,530 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $241,000.
  
  
  • Public Health: Virginia will lose approximately $764,000 in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological,chemical, nuclear, and radiological events. In addition, Virginia will lose about $2,140,000 in grants to help prevent and treat substance abuse, resulting in around 1,700 fewer admissions to substance abuse programs. And the Virginia State Department of Health will lose about $337,000 resulting in around 8,400 fewer HIV tests.
  
  
  • STOP Violence Against Women Program: Virginia could lose up to $172,000 in funds that provide services to victims of domestic violence, resulting in up to 700 fewer victims being served.
  
  
  • Nutrition Assistance for Seniors: Virginia would lose approximately $1,215,000 in funds that provide meals for seniors.

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April 15, 2013

The Washington Post reports, "From about 1965 to 2003, a large majority of Americans felt their taxes were 'too high.' In recent years, however, more and more Americans believed their taxes fair. There have even been a few years were most Americans thought their taxes were either 'fair' or 'too low' (though 'too low' is, to be sure, an extremely rare answer). So historically speaking, you're actually not that upset about paying your taxes. Or, at the least, you're not as upset as you used to be. There's a big caveat here. These numbers don't include state and local taxes, which hit poorer Americans much harder, and which thus make the total taxes people actually pay much more regressive... The U.S. tax code is also more complicated than it needs to be, and the corporate code, in particular, is a mess."

Progressive Point: We all know it -- our tax code is rigged. Billionaire hedge fund managers still pay lower taxes than their secretaries, and the biggest corporations like GE and Verizon are getting away with paying nothing at all. Working families and small business owners are proud to pay their taxes so we can invest in America and make everyone better off, not so we can give hedge fund managers another tax break.

Corporate tax lobbyists are pushing Congress to give them more special tax breaks while making everyone else bear more of the burden -- even by cutting basic cost-of-living adjustments and health care benefits that hardworking families count on. Lobbyists for billionaires claim that we can fix the budget by giving more to those who already have a lot, but the only way to make their math add up is if working Virginians pay more. Those who've done well in America ought to do well by America and be proud to pay their fair share too.

Get the Facts:

• Via the Atlantic:

Ten more great tax day charts from the Atlantic are available here.

• The wealthiest Americans are paying nearly the lowest tax rate in 50 years. In 2009, 22,000 households that made more than $1 million paid less than 15% in income taxes and nearly 1,500 paid no federal income taxes.


• According to one study, ten of the largest companies in the U.S. paid no federal income tax on $16 billion in profits in 2012. Over the past five years, they paid zero federal income tax on nearly $60 billion in profits.


• In terms of taxes dodged every year, corporations and wealthy individuals avoid paying an estimated $150 billion by using complicated accounting tricks to shift their profits to offshore tax havens. Corporations account for 60% of that, or $90 billion.


• The average American taxpayer pays an extra $1,000 in taxes to cover the lost revenue from corporations and the very wealthy exploiting offshore tax havens not available to most people. The average small business pays over $3,000 to cover the offshore tax dodging by big corporations.


• Corporate tax lobbyists have no credibility on these issues. When multinational corporations got their way on a similar offshoring tax giveaway in 2004, they started firing Americans right away while using the money to pay investors and corporate executives.


• U.S. parents of multinational companies cut nearly 900,000 jobs between 1999 and 2009, while their foreign affiliates added nearly 3 million jobs.


• CEO pay in the U.S. is 380 times the average pay of their workers -- by far the biggest gap in the world. History shows that as CEO pay rises, median income for ordinary families falls and the divide between the richest few and everyone else grows wider.

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April 5, 2013

The Huffington Post reports, "The grips of sequestration are just now beginning to be felt and the effects are already quite dramatic. Organizations and companies have begun laying off workers, while many more have decided not to staff vacant positions. Schools on military bases are contemplating four-day weekly schedules. Food pantries have closed, as have centers that provide health services. Farmers have been forced to go without milk production information, causing alarm in the dairy industry and the potential of higher milk prices. Workers at missile-testing fields are facing job losses. Federal courts have closed on Fridays. Public Broadcasting transmitters have been shut down... On the national level, sequestration may be defined by canceled White House tours and long lines at airports that never materialized. But on the local level, it is beginning to sting."

Progressive Point: It's been a long and grueling recovery and good economic news has been hard to come by. Americans have added jobs to our economy every month for three straight years, but millions of Americans are still pounding the pavement looking for work or facing layoffs due to the sequester. No wonder it's been the slowest economic recovery since WWII -- conservatives in Congress keep trying to lay off their own constituents and take money out of middle class Americans' pockets.

Because these politicians refuse to fix the sequester, working families across the Commonwealth and the country are getting laid off while others are scraping by with smaller paychecks, less health care and education, and fewer of the basic services we all rely on. We need leaders who care more about putting their constituents back to work than about laying them off just to score political points.

Get the Facts: Whitehouse.gov reports that sequester will impact Virginia in the following ways this year:

• Teachers and Schools: Virginia will lose approximately $14 million in funding for primary and secondary education, putting around 190 teacher and aide jobs at risk. In addition about 14,000 fewer students would be served and approximately 40 fewer schools would receive funding.
  • Education for Children with Disabilities: In addition, Virginia will lose approximately $13.9 million in funds for about 170 teachers, aides, and staff who help children with disabilities.


• Work-Study Jobs: Around 2,120 fewer low income students in Virginia would receive aid to help them finance the costs of college and around 840 fewer students will get work-study jobs that help them pay for college.


• Head Start: Head Start and Early Head Start services would be eliminated for approximately 1,000 children in Virginia, reducing access to critical early education.


• Protections for Clean Air and Clean Water: Virginia would lose about $2,997,000 in environmental funding to ensure clean water and air quality, as well as prevent pollution from pesticides and hazardous waste. In addition, Virginia could lose another $826,000 in grants for fish and wildlife protection.


• Military Readiness: In Virginia, approximately 90,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $648.4 million in total.
  • Army: Base operation funding would be cut by about $146 million in Virginia.
  • Air Force: Funding for Air Force operations in Virginia would be cut by about $8 million.
  • Navy: Cancel the maintenance of 11 ships in Norfolk, defer four projects at Dahlgren, Oceana,and Norfolk, and delay other modernization and demolition projects.


• Law Enforcement and Public Safety Funds for Crime Prevention and Prosecution: Virginia will lose about $276,000 in Justice Assistance Grants that support law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.


• Job Search Assistance to Help those in Virginia find Employment and Training: Virginia will lose about $348,000 in funding for job search assistance, referral, and placement, meaning around 18,390 fewer people will get the help and skills they need to find employment.


• Child Care: Up to 400 disadvantaged and vulnerable children could lose access to child care,which is also essential for working parents to hold down a job.


• Vaccines for Children: In Virginia around 3,530 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $241,000.


• Public Health: Virginia will lose approximately $764,000 in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological,chemical, nuclear, and radiological events. In addition, Virginia will lose about $2,140,000 in grants to help prevent and treat substance abuse, resulting in around 1,700 fewer admissions to substance abuse programs. And the Virginia State Department of Health will lose about $337,000 resulting in around 8,400 fewer HIV tests.


• STOP Violence Against Women Program: Virginia could lose up to $172,000 in funds that provide services to victims of domestic violence, resulting in up to 700 fewer victims being served.


• Nutrition Assistance for Seniors: Virginia would lose approximately $1,215,000 in funds that provide meals for seniors.

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March 21, 2013

The Virginian-Pilot reports, "Craig Lewis spent 10 years in the Navy in Hampton Roads and another 17 working for the service as a heavy equipment operator at Norfolk Naval Station. He hasn't gotten a raise in three years, and now, after what he sees as 27 years of service, he's about to lose a day a week of pay because of sequestration. To compound the burden, Lewis' wife works as a civilian Air Force employee, so she's going to be furloughed as well. On Wednesday, Lewis joined about 45 fellow union workers protesting outside the naval base to denounce budget cuts that will hit civilian workers hard."

Progressive Point: Virginia needs leaders who treat the challenges American families face with urgency -- not politicians who downplay job losses like they're just another political matter. Conservative leaders in Congress are about to furlough thousands of hard working Virginians and lay off 750,000 Americans across the country and blame the President. Instead of agreeing to end tax loopholes for the wealthy so we can stop the sequester, they want to replace its job-killing spending cuts with job-killing spending cuts -- and force the President to implement them.

Economic experts are warning that it's the size of the sequester's spending cuts that matters -- and that it will kill 750,000 jobs this year alone if Congress fails to act. The sequester means laying off the Americans who keep our country running -- from law enforcement to teachers -- and taking money out of the pockets of working people who are military and government employees right here in Virginia. With these Congressional conservative leaders downplaying the consequences for ordinary Americans, it's no wonder most voters think they're out-of-touch and agree they should be blamed for the sequester. It's almost as if they think regular Americans deserve these things to happen -- the massive cuts to our home front investments they've been pushing for all along.

Get the Facts:

• "Robert W. Barfield, a union official with the Tidewater branch of the Trades Council, said officials at the Norfolk Naval Shipyard are preparing to send furlough letters to all of the yard's 9,100 employees." (Virginian-Pilot, March 21, 2013)


• Whitehouse.gov reports that sequester will impact Virginia in the following ways this year:
  • Teachers and Schools: Virginia will lose approximately $14 million in funding for primary and secondary education, putting around 190 teacher and aide jobs at risk. In addition about 14,000 fewer students would be served and approximately 40 fewer schools would receive funding.
    • Education for Children with Disabilities: In addition, Virginia will lose approximately $13.9 million in funds for about 170 teachers, aides, and staff who help children with disabilities.
  
  
  • Work-Study Jobs: Around 2,120 fewer low income students in Virginia would receive aid to help them finance the costs of college and around 840 fewer students will get work-study jobs that help them pay for college.
  
  
  • Head Start: Head Start and Early Head Start services would be eliminated for approximately 1,000 children in Virginia, reducing access to critical early education.
  
  
  • Protections for Clean Air and Clean Water: Virginia would lose about $2,997,000 in environmental funding to ensure clean water and air quality, as well as prevent pollution from pesticides and hazardous waste. In addition, Virginia could lose another $826,000 in grants for fish and wildlife protection.
  
  
  • Military Readiness: In Virginia, approximately 90,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $648.4 million in total.
    • Army: Base operation funding would be cut by about $146 million in Virginia.
    • Air Force: Funding for Air Force operations in Virginia would be cut by about $8 million.
    • Navy: Cancel the maintenance of 11 ships in Norfolk, defer four projects at Dahlgren, Oceana,and Norfolk, and delay other modernization and demolition projects.
  
  
  • Law Enforcement and Public Safety Funds for Crime Prevention and Prosecution: Virginia will lose about $276,000 in Justice Assistance Grants that support law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.
  
  
  • Job Search Assistance to Help those in Virginia find Employment and Training: Virginia will lose about $348,000 in funding for job search assistance, referral, and placement, meaning around 18,390 fewer people will get the help and skills they need to find employment.
  
  
  • Child Care: Up to 400 disadvantaged and vulnerable children could lose access to child care,which is also essential for working parents to hold down a job.
  
  
  • Vaccines for Children: In Virginia around 3,530 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $241,000.
  
  
  • Public Health: Virginia will lose approximately $764,000 in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological,chemical, nuclear, and radiological events. In addition, Virginia will lose about $2,140,000 in grants to help prevent and treat substance abuse, resulting in around 1,700 fewer admissions to substance abuse programs. And the Virginia State Department of Health will lose about $337,000 resulting in around 8,400 fewer HIV tests.
  
  
  • STOP Violence Against Women Program: Virginia could lose up to $172,000 in funds that provide services to victims of domestic violence, resulting in up to 700 fewer victims being served.
  
  
  • Nutrition Assistance for Seniors: Virginia would lose approximately $1,215,000 in funds that provide meals for seniors.

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March 12, 2013

The Richmond Times-Dispatch reports, "Unintended consequences have come due for state agencies and local governments that have used part-time employees to regularly work more than 30 hours a week. For the first time, government employers will have to either provide health insurance benefits to those workers or cut back the part-time hours to fewer than 30 hours a week to comply with the Affordable Care Act... The decision facing Gov. Bob McDonnell and the General Assembly about how to treat employees working between 30 and 40 hours a week came down to money."

Progressive Point: We need an economy that works for all Virginians, and budget priorities that get us there. Richmond conservatives are still protecting corporate welfare handouts that cost taxpayers over $1B a year while refusing to spend less than a tenth that amount to provide state workers affordable health coverage.

Refusing to ask corporations to pay their fair share is just cowardly. Courage is standing up to big corporations and for working families, and that's the one thing Richmond conservatives won't do. They would rather increase health care costs for our state workers so they can keep funneling taxpayer dollars into the pockets of the big companies who fund their campaigns. If we want to fix Virginia's budget problems asking corporations to pay their fair share is the first step.

Get the Facts: Share on Facebook:

• "The decision facing Gov. Bob McDonnell and the General Assembly about how to treat employees working between 30 and 40 hours a week came down to money. If the state assumed that 10,000 wage employees would have to be offered health insurance, the bill would range from $61 million to $110 million a year, depending on whether employees' families also would be covered." (Richmond Times-Dispatch, March 11, 2013)


• Via the New York Times:
  • Virginia spends at least $1.29 billion per year on incentive programs, according to the most recent data available. That is roughly:
    • $161 per capita
    • 8¢ per dollar of state budget
  • Top Incentives by type
    1. $1.14 billion in Sales tax refund, exemptions or other sales tax discounts
    2. $79.9 million in Cash grant, loan or loan guarantee
    3. $50.3 million in Corporate income tax credit, rebate or reduction
  • Top Incentives by industry
    1. $917 million in Manufacturing
    2. $129 million in Agriculture
    3. $72.3 million in Oil, gas, mining

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February 25, 2013

The Virginian-Pilot reports, "The Obama administration released further details Sunday of how Virginians would be affected by spending cuts set to start in four days, even as it pressed for a compromise to head them off. Pentagon officials have already warned of reductions in military spending that would be particularly crippling to the defense-heavy economies of Virginia - and Hampton Roads. Now, the White House is highlighting other cuts to federal funding for education, law enforcement, public health, national parks and environmental protection."

Progressive Point: Our leaders should put service to our country, the American people, and 90,000 Virginia jobs ahead of their political ambitions. But since the President does better when America does better, conservatives in Congress are doing everything they can to sabotage our economic recovery. After forcing trillions in cuts that caused massive layoffs, threatening another default crisis, and blocking President Obama's American Jobs Act, they want even more cuts to the things that keep our country strong and competitive.

Cutting education and public safety means laying off our teachers and firefighters, taking work away from companies that do business with our government, and pulling money out of the pockets of regular people who keep our stores thriving and hiring. Our top priority is doing everything we can to grow our economy and create good, middle class jobs. Now is the time for our leaders to find a balanced plan that will protect Virginia jobs, protect vital services for children, seniors, people with mental illness, and protect our men and women in uniform.

Get the Facts: If sequestration goes into effect, Whitehouse.gov reports that it will impact Virginia in the following ways:

• Teachers and Schools: Virginia will lose approximately $14 million in funding for primary and secondary education, putting around 190 teacher and aide jobs at risk. In addition about 14,000 fewer students would be served and approximately 40 fewer schools would receive funding.
  • Education for Children with Disabilities: In addition, Virginia will lose approximately $13.9 million in funds for about 170 teachers, aides, and staff who help children with disabilities.
  
  


• Work-Study Jobs: Around 2,120 fewer low income students in Virginia would receive aid to help them finance the costs of college and around 840 fewer students will get work-study jobs that help them pay for college.


• Head Start: Head Start and Early Head Start services would be eliminated for approximately1,000 children in Virginia, reducing access to critical early education.


• Protections for Clean Air and Clean Water: Virginia would lose about $2,997,000 in environmental funding to ensure clean water and air quality, as well as prevent pollution from pesticides and hazardous waste. In addition, Virginia could lose another $826,000 in grants for fish and wildlife protection.


• Military Readiness: In Virginia, approximately 90,000 civilian Department of Defense employees would be furloughed, reducing gross pay by around $648.4 million in total.
  • Army: Base operation funding would be cut by about $146 million in Virginia.
  
  
  • Air Force: Funding for Air Force operations in Virginia would be cut by about $8 million.
  
  
  • Navy: Cancel the maintenance of 11 ships in Norfolk, defer four projects at Dahlgren, Oceana,and Norfolk, and delay other modernization and demolition projects.
  
  


• Law Enforcement and Public Safety Funds for Crime Prevention and Prosecution: Virginia will lose about $276,000 in Justice Assistance Grants that support law enforcement, prosecution and courts, crime prevention and education, corrections and community corrections, drug treatment and enforcement, and crime victim and witness initiatives.


• Job Search Assistance to Help those in Virginia find Employment and Training: Virginia will lose about $348,000 in funding for job search assistance, referral, and placement, meaning around 18,390 fewer people will get the help and skills they need to find employment.


• Child Care: Up to 400 disadvantaged and vulnerable children could lose access to child care,which is also essential for working parents to hold down a job.


• Vaccines for Children: In Virginia around 3,530 fewer children will receive vaccines for diseases such as measles, mumps, rubella, tetanus, whooping cough, influenza, and Hepatitis B due to reduced funding for vaccinations of about $241,000.


• Public Health: Virginia will lose approximately $764,000 in funds to help upgrade its ability to respond to public health threats including infectious diseases, natural disasters, and biological,chemical, nuclear, and radiological events. In addition, Virginia will lose about $2,140,000 in grants to help prevent and treat substance abuse, resulting in around 1,700 fewer admissions to substance abuse programs. And the Virginia State Department of Health will lose about $337,000 resulting in around 8,400 fewer HIV tests.


• STOP Violence Against Women Program: Virginia could lose up to $172,000 in funds that provide services to victims of domestic violence, resulting in up to 700 fewer victims being served.


• Nutrition Assistance for Seniors: Virginia would lose approximately $1,215,000 in funds that provide meals for seniors.

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January 7, 2013

The Virginian-Pilot reports, "From beehives to bullion to burial urns in space, no commodity is considered too arcane for a tax break. A recent government report found nearly 200 tax breaks that together cost Virginia $12.5 billion a year - almost as much as the state collects in taxes. That money could go a long way: Virginia's road network is crumbling under the weight of as much as $3 billion a year in unfunded construction needs, while state colleges, starved of government support, have doubled tuition rates over the past decade."

Progressive Point: Virginia's working families pay their fair share and its time everyone else did the same. But instead of ending tax giveaways for big corporations and the 1%, Governor McDonnell is considering more massive spending cuts to our home front investments, including huge cuts to public safety programs that keep our police and firefighters on the streets.

Our Commonwealth's budget is about more than just numbers--it's a roadmap for our community priorities. That means putting people back to work and growing our economy by getting rid of tax breaks and loopholes that don't work. Our greatness comes from the people striving for a shot at the American dream, not cutting the programs that help keep us free from harm. In Virginia, everyone should get a fair shot, pay their fair share, and play by the same set of rules.

Get the Facts:

• Virginia loses $12.5 billion in revenue a year through nearly 200 tax credits and giveaways that receive little-to-no scrutiny and accountability. (Virginian-Pilot, January 6, 2013)


• The Virginian-Pilot also reports:
  • "[A]mong those judged least effective were two tax credits intended to promote the Virginia coal industry. Those credits, which cost the state $27 million in 2011, appear not to have achieved their goal of slowing the decline of coal mining activity and employment, the investigators found... [M]ining is the only sector of the Virginia economy that produces negative tax revenue... There is a net cash flow from the state to the mining companies, not the other way around."
  
  
  • "A favorite target of critics is the yacht tax break. Watercraft sales are taxed at 2 percent, but there's a $2,000 cap. That means the buyer of a $1 million yacht pays the same tax as a waterman who buys a $100,000 workboat."
  
  
  • "[T]he top 1 percent of state households - those making more than $529,000 a year - pay 5 percent of their income in state and local taxes, according to a recent analysis by the Washington-based Institute on Taxation and Economic Policy. The poorest one-fifth - those making less than $19,000 - pay nearly 9 percent."

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January 2, 2013

The Washington Post reports, "U.S. markets surged more than 2 percent Wednesday morning, hours after Congress approved a plan to avoid the 'fiscal cliff' by raising taxes on American's wealthiest households. The late-night, last-minute deal allows the nation to avoid the severe austerity measures that were slated to take effect starting today."

Progressive Point: Virginians deserve a Congress that shares our values and works towards solutions on our priorities. Our vision of America doesn't include tax cuts for the wealthy while the rest of us struggle. Shame on conservatives in Congress who refuse to ask the wealthy to pay their fair share no matter what's at stake for the country.

Conservatives who voted against our common sense priorities made it clear they don't share our vision for our country. When they refused to raise taxes on the super-rich, it shows they'll never ask the wealthy to pay their fair share. Virginia families know what it takes to fix this mess, and it starts with passing middle class tax cuts, extending unemployment insurance, and putting Americans back to work to get our economy going.

Get the Facts: Via ThinkProgress:

•  
  • The first major tax increase for the wealthy in 20 years. Allowing the expiration of some of the Bush tax cuts amounts to the first major tax increasefor the wealthiest Americans since the 1990s.
  
  
  • The Bush tax cuts expire for just 0.7 percent of taxpayers. The expiration will occur on income in excess of $400,000 (or $450,000 for a couple). This translates into "a little over 1 million Americans" according to the Tax Policy Center. The capital gains and dividend tax will also increase to 20 percent for wealthy earners.
  
  
  • The top 1 percent will pay an average of $73,633 more in taxes. Bloomberg News noted that, "among households with incomes between $500,000 and $1 million, taxes would go up by an average of $14,812."
  
  
  • Two million unemployed workers see benefits saved. Without the extension included in the fiscal cliff deal, millions of workers would have seen their federal unemployment insurance pulled out from under them.

• The House of Representatives "passed the measure Tuesday evening by a vote of 257-167, with 85 Republican votes. 151 Republicans, including House Majority Leader Eric Cantor (R-VA) and Majority Whip Kevin McCarthy (R-CA), and 16 Democrats voted against the bill." (ThinkProgress, January 1, 2013)

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December 10, 2012

The Washington Post reports, "Federal agencies are sharpening their plans to carry out drastic, automatic spending cuts starting Jan. 2 if the Obama administration and Congress cannot agree on a deficit reduction strategy in the coming days. Some agencies envision furloughs for federal workers, while others are mapping out a course to slow hiring and outside contracting and put programs on hold if the across-the-board reductions known as a sequester kick in. For millions of Americans, the 'fiscal cliff' would mean immediate tax hikes, but for federal employees it also signals big adjustments as their agencies absorb deep spending cuts -- set by law at $1 trillion over 10 years."

Progressive Point: Conservatives in Congress are demanding more of what America already rejected: working families paying more so the wealthy pay less. They're offering what they ran and lost on: lower tax rates for the wealthy--paid for by cuts to Medicare and Social Security.

It's time to end the Bush tax cuts for the richest few so they start paying their share, not shift even more of the burden to working families. Virginians want a solution that protects our priorities, our families, and our essential community services. America's greatness comes from everyone striving for a shot at the American dream, not lower tax rates for the wealthy.

Get the Facts:

• An average middle class family will see their taxes go up $2,200 a year unless a deal is reached before the end of the year. (President Obama, Politico, December 8, 2012)


• About a third of Virginia's economy is dependent on federal spending and will be at risk and over 200,000 Virginia jobs will be put in jeopardy if a deal is not reached on the fiscal cliff. (NBC News, October 24, 2012)

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December 6, 2012

The Roanoke Times reports, "A national analysis by The New York Times recently estimated that state and local governments are doling out more than $80 billion a year in incentives. In most cases, there's no way to prove whether jobs would have been created absent corporate giveaways... 'If you're looking at the competitiveness of a region, the most important thing a region can do is to focus on education,' [Donald Hall Jr., CEO of Hallmark] told The Times. 'And this use of incentives is really transferring money from education to businesses. ... It's really not creating new jobs.'"

Progressive Point: Corporate handouts don't create jobs--but they are padding record corporate profits. Our elected officials have a choice: continuing wasteful corporate welfare or actually driving economic development by investing in education. For Virginia the choice is clear.

Bob McDonnell says we have to keep cutting education funding, but at the same he's fighting to protect giveaways to big businesses. He hopes we won't notice that the ones who reap the rewards from corporate welfare are the big campaign donors. Working families are struggling--giant corporations are not. Home front investments in our students and schools works and are the proven way to create the jobs Virginia needs.

Get the Facts:

• "Virginia spends about $1.29 billion annually, or $161 per capita, on tax preferences, grants and low-interest loans for manufacturing, agriculture and mining companies. In comparison, state aid for public schools declined from $5.6 billion in 2009 to $4.7 billion in 2011." (Roanoke Times, December 6, 2012)


• The Joint Legislative Audit and Review Commission found that Virginia lost $12.5 billion in 2008 in tax breaks. "Of the 187 tax preferences the watchdog agency identified, 131 were not monitored to determine if they generated any benefits for state residents." (Roanoke Times, December 6, 2012)


• Since 2008, Virginia has cut per student funding by 10%, or $592 per pupil. (Center for Budget and Policy Priorities, Sept. 4, 2012)


• Gov. Bob McDonnell touted a 2011 surplus of more than $400 million. Now he mandating state agencies draft plans for 4 percent cutbacks. (Virginian-Pilot, November 14, 2012)


• Increasing investment in our schools and closing the educational-achievement gap between the U.S. and higher-performing countries could boost our gross domestic product by 16%. (Wall Street Journal, April 22, 2012)

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October 16, 2012

The Washington Post's Fact Checker reports, "Romney's 12-million job promise has garnered a lot of attention... But this is campaign math, which means it is mostly made of gossamer... The candidate's personal accounting for this figure in this campaign ad is based on different figures and long-range timelines stretching as long as a decade... We just find it puzzling that Romney agreed to personally utter these words without asking more questions about the math behind them."

Progressive Point: We can't solve our problems if our leaders won't tell the truth. Mitt Romney is misrepresenting his own plans because he knows the vision and values they represent are unpopular with the American people. Instead of investing in the middle class to build our economy, Romney and Ryan would raise taxes on the middle class to pay more more tax cuts for the already rich.

Mitt Romney and Paul Ryan don't want us to know their plan would end guaranteed Medicare and cut Social Security. There's a clear choice in this election: a country where hardworking families pay more so the richest few pay less, or an America where we all pay our fair share and get a fair shot.

Get the Facts:

• Mitt Romney's plan, featured in campaign ads, to create 12 million jobs over four years doesn't add up. Independent analysts found the claim is based on projections that don't take Romney's proposals into account and that are projected out over as many as ten years. (Washington Post, October 16, 2012)


• At the first presidential debate Mitt Romney, "spoke for 38 minutes of the 90 minute debate and told at least 27 myths." (ThinkProgress, October 4, 2012)


• Gov. Romney and Rep. Ryan's plan would provide extra tax incentives for corporations to outsource jobs and pushes policies that would cripple the clean energy industry, jeopardizing 90,000 jobs across the state. (The True Cost of Romney-Ryan to Virginians, ProgressVA, October 2, 2012)


• Moody's Analytics in August and Macroeconomic Advisors in April predicted 12 million jobs will be created by 2016 no matter who is president. (Washington Post, August 31, 2012)

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October 10, 2012

The Roanoke Times reports, "Nine of every 10 Roanoke City Public Schools teachers returned to work this school year, resulting in one of the lowest turnover rates in recent years. 'It appears the salary increase had an effect on that,' said Sandra Burks, the division's executive director of human resources... 'This is the best report we've ever seen,' school board member Lori Vaught said." The Associated Press also reports, "The large-scale development of wind power off the Mid-Atlantic coast would create more than 70,000 jobs from New York to Virginia, an industry-sponsored study concludes. The study released Wednesday said those jobs would be created by a new industrial base needed to manufacture, build, operate and maintain the towering wind turbines, and an additional 40,000 jobs would be needed to serve the supply chain."

Progressive Point: Home front investments - funding for our schools, police officers, and clean energy here at home - are our shared investment in Virginia's future. We invest in our schools and teachers so our children can get the best education, in our roads and bridges so our businesses can move their products, and in clean energy, the fastest growing industry in the U.S. today, because it creates jobs.

Investments in Virginia's home front strengthen and benefit us all. They drive our Commonwealth's competitiveness, create opportunities for new businesses, and help our families stay healthy and safe. Mitt Romney and Bob McDonnell want to keep cutting our investments in Virginia's home front, just to give the richest few even more special tax breaks the rest of us can't get. Romney wants to get rid of Obamacare and pass health care costs down onto the states. McDonnell keeps passing the buck on home front investments down from the state to our cities and counties. You don't invest less in the things you value, and Virginians value our Commonwealth's communities.

Get the Facts:

• Roanoke City Public Schools "gave employees minimum 1 percent raises this fiscal year after three years of frozen wages... Teacher retention as of Sept. 30 was 90.4 percent, which is up more than 3 percentage points from last year." (Roanoke Times, October 10, 2012)


• In addition to the 110,000 jobs created by wind power and its supply chain, 50,000 support jobs, such as restaurants and groceries could also be created. (Associated Press, October 10, 2012)


• "Large-scale wind development off the Atlantic coast would also have a combined economic impact for the states of $19 billion and increase local, state and federal government revenues by $4.6 billion, the study by information and analytics company IHS Inc. concluded." (Associated Press, October 10, 2012)


• "Wind power advocates have said Virginia is uniquely positioned to nurture the industry because of the relatively shallow waters offshore and strong winds. It also has the coastal infrastructure - a shipbuilding industry and a deepwater port - to allow for building and delivering turbines." (Associated Press, October 10, 2012)


• "Clean energy is the fastest growing industry in the U.S. today. Developing new clean energy technologies like wind and solar could support 20 million jobs by 2030 and trillions of dollars in revenue." (Media Matters)


• President Obama supports renewing tax insentives for new wind project while Mitt Romney is opposing them. Despite wind energy's huge potential for Virginia jobs, Bob McDonnell is playing politics and remaining silent and not taking a position on the issue because of the election. (Virginian-Pilot, October 10, 2012)

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October 9, 2012

Politico reports, "Republican George Allen is well aware he needs to close the gender gap with women in order to win the Virginia Senate race. The severity of that challenge was on full display Monday night in his fourth debate with Democrat Tim Kaine. When asked about proposals in the GOP-led General Assembly's this year to require an ultrasound before women could get an abortion and to codify that life begins at conception -- so-called 'personhood' legislation -- Allen punted and pivoted."

Progressive Point: Women's issues are economic issues. George Allen's failure to support equal pay for equal work and his opposition to universal contraception coverage shows he just doesn't get it.

Thanks to Obamacare, when a woman or her child gets sick, she won't have to panic about how to pay the bill. But George Allen wants to repeal these common sense protections and even supports a federal personhood amendment that would criminalize some forms of birth control. Tim Kaine was right when he said, "You can't empower women in the economy if you take away their choices."

Get the Facts: Via the DSCC:

• Allen Maintained Silence On Lilly Ledbetter Act. Reported the Richmond Times-Dispatch in April 2012, "Democrats leapt at the soft endorsement, asking where Allen stood on the Lilly Ledbetter Fair Pay Act, a law that helps women hold accountable employers who discriminate in the pay practices based on gender. . . . 'Allen should explain why he finds it easier to endorse Mitt Romney than he does standing up for the basic concept that women should receive equal pay for equal work,' said Del. Jennifer L. McClellan, D-Richmond." [Richmond Times-Dispatch, 4/17/12 ]


• Three Times, Allen Voted Against The Family And Medical Leave Act. As a Congressman, Allen voted three times against the Family and Medical Leave Act, which gives workers up to 12 weeks of unpaid leave to care for a newborn or sick relative." [AP, 11/2/2000; HR 2, Vote 393, 11/13/1991 ; S5, Vote 390, 9/10/1992 ; S5, Vote 443, 9/30/1992 ]


• Allen: "[I] Support Legislation Declaring The Personhood Of Every Individual Life."[Allen website, "Virginia Values for Washington," accessed 7/1/11 ]


• After Personhood Legislation Passed VA House, Allen Campaign Said He Supported It. In February 2012, after personhood legislation passed in the Virginia House of Delegates, theTimes-Dispatch reported: " 'Does George Allen support the 'personhood' measure in the Virginia House of Delegates that is sponsored by his challenger, Delegate Bob Marshall?' Kaine's campaign asked in a press release. Later in the afternoon, Allen's campaign offered a simple answer: Yes. 'This measure is about protecting innocent unborn life. If a criminal hits a pregnant mother injuring or killing the unborn child, then there would be a cause of action for that child as well,' elaborated Allen spokeswoman Katie Wright. 'Democrats are desperately trying to make this a battle over contraceptives. As George Allen has often said he is opposed to the government prohibiting or banning contraceptives - and this bill doesn't do that,' she added." [Virginia Politics blog, Times-Dispatch, 2/14/12 ]


• Allen Supported The Blunt Amendment. In February 2012, after the Blunt amendment failed to pass in the Senate, George Allen announced his support for the amendment. Allen's spokesperson said, "While George Allen does not support banning contraceptives, Americans in this instance should not be forced to choose between following a government mandate or adhering to their own deeply held religious beliefs. The fact that we are even having this discussion shows the serious problems Obamacare imposes on Virginia families and small businesses, and it's another reason Tim Kaine should listen to the people of Virginia who want to see it repealed and replaced." The Washington Post described that the amendment, "would have rolled back the Obama administration's health coverage rule by allowing insurance companies and employers to opt out of covering prescriptions, such as contraceptions, or procedures they object to on religious or moral grounds." [Virginia Politics, Washington Post, 3/1/12 ]

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October 2, 2012

The Virginian-Pilot reports, "Charging that Dominion Virginia Power has 'ripped off' ratepayers for $76 million, environmentalists are planning five days of protests in Richmond this week urging changes to state rules intended to encourage development of wind, solar and other green energy. The activists say the rules, known collectively as the Renewable Energy Portfolio Standard, or RPS, have done little to push utilities to invest more in cleaner energy supplies."

Progressive Point: Clean energy is the fastest growing industry in the U.S. today. Virginia should be leading the country in creating renewable energy jobs, not getting left behind. Instead of protecting Big Oil at the expense of taxpayers, let's invest in cleaner, safer sources of energy that won't ever run out and will put millions of Americans across the country and Virginians right here back to work.

Over the past five years, Big Oil raked in over half a trillion dollars in profits and laid off more than 10,000 Americans. Clean energy is the fastest growing industry in the U.S. today and creates three times as many jobs as fossil fuels. This should be obvious: the oil industry is no longer a new start-up that needs help getting off the ground. Big Oil is raking in billions in profits but still taking billions in taxpayer handouts, keeping our nation hooked on oil, and lobbying to kill off their clean energy competitors. It couldn't be any clearer: Big Oil is leaving us behind while clean energy is creating jobs.

Get the Facts:

• Offshore wind could create up to 10,000 jobs in Virginia according to a study cited by Delegate Joseph Morrissey and 13 fellow state legislators. (The Virginian-Pilot, May 8, 2012)


• "Clean energy is the fastest growing industry in the U.S. today. Developing new clean energy technologies like wind and solar could support 20 million jobs by 2030 and trillions of dollars in revenue." (Media Matters)


• Scaling Green reports:

•  
  • "A nearly unanimous 92% of voters feel it is very important (58%) or somewhat important (34%) for the United States to develop and use solar power," including 98% of Democrats, 95% of Independents, and 84% of Republicans.
  
  
  • 85% of voters have a favorable view of solar power, with 82% of voters also holding a favorable view of wind power. This support is nearly universal, "regardless of party or demographics."

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September 24, 2012

The Danville Register & Bee reports, "The [Danville] city government knew the two-lane "Smurf Bridge" needed to be replaced, but the politics in Richmond made that more and more unlikely. There simply wasn't enough road and bridge construction dollars coming out of Richmond anymore -- and the state's political leadership couldn't agree on a plan to fix the problem... But it was the federal government -- not the state government -- and President Barack Obama's much-maligned stimulus bill that got Danville the bridge it needed. Former Rep. Tom Perriello voted for the stimulus bill and lobbied former Gov. Tim Kaine to steer part of Virginia's share of the stimulus money to Danville. Danville's newest bridge may be named for George Wilmot Robertson, but without the efforts of Obama, Kaine and Perriello in 2009, there would be a traffic jam on the old two-lane Smurf Bridge today."

Progressive Point: Investing in our schools, cops, bridges, and medical research keeps Virginia's economy running and is a down payment on our future. The President's home front investments have helped put Virginia back to work. Projects like rebuilding our decaying bridges put money in the pockets of working Virginians and more customers in our stores.

Mitt Romney, Bob McDonnell, and their conservative allies want to cut home front investments to give the richest few even more special tax breaks. The President's investments in Virginia are working to strengthen our economy. While there's more work to do, there's no question that we're doing better today than we were four years ago. Our leaders in Virginia need to learn the value in investing our communities as well.

Get the Facts:

• "The American Recovery and Reinvestment Act wound up providing $28.9 million of the $39.7 million" for Danville's Robertson Bridge project. (Danville Register & Bee, Sept. 23, 2012)


• Mitt Romney's economic plan would raise taxes 95% of Americans to pay for tax cuts for the top 5% and would add a new $247,000 tax cut for the wealthiest 0.1% on top of the Bush tax cuts. (ThinkProgress, August 1, 2012)


• The Rep. Ryan/House GOP budget that Mitt Romney has endorsed proposes $871 billion in cuts to investments. (Center for American Progress, March 20, 2012)


• Mitt Romney's economic plan would cut potentiall over ten billion dollors that goes to police officers, firefighters, and teachers based on an analysis from the Center on Budget and Policy Priorities. (Washington Post, June 13, 2012)

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September 19, 2012

The Washington Post reports, "President Obama holds a clear lead over Mitt Romney in Virginia...according to a new Washington Post poll. Obama leads his Republican rival 52 percent to 44 percent among likely voters... [B]y 54 percent to 37 percent, Virginia voters say Obama better understands the economic problems that Americans are facing. The survey was completed before a video was leaked that showed Romney saying at a fundraising event that 47 percent of Americans consider themselves 'victims' and are dependent on the government."

Progressive Point: There's no question that American families work hard. So it's just plain insulting that Mitt Romney thinks 47% of us are freeloaders who aren't worth his time. Who are these people Romney is accusing of being moochers? Our military serving in war zones, retired seniors, working parents, students, and disabled kids. In fact, just about everybody pays taxes and most middle class families are paying a bigger percentage than Romney.

Before Mitt Romney judges other people about paying federal income taxes, he should come clean about the tax returns he's hiding from voters. First Romney didn't want us to know how little he pays in taxes. Then he didn't want us to know how much more we'd pay under his plan--and how much less he'd pay. Romney apparently thinks that if you're struggling, you're not struggling enough. That's the only way he could justify raising taxes on the military, the elderly, students, and working parents while writing us off as not worth his time.

Get the Facts:

• More than 60% of the families Mitt Romney called freeloaders actually are working, but they just don't make enough income to owe federal income taxes. (Center on Budget and Policy Priorities, September 17, 2012)


• 44% of families that don't pay federal income taxes are seniors who receive tax benefits. (Tax Policy Center, July 2011)


• Mitt Romney in the last two years has paid an average tax rate of just 14% off his already aquired wealth--a rate lower than the average middle-class family. (Huffington Post, January 23, 2012)


• Under Paul Ryan's budget plan Romney would end up paying less than even 1% in income taxes. (The Atlantic, August 11, 2012)

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September 13, 2012

WJLA reports, "First lady Michelle Obama and Republican presidential nominee Mitt Romney will both hit the campaign trail in Virginia Thursday. Mrs. Obama's first stop on a two-city campaign foray into the key battleground state is downtown Richmond. Later in the day, she will speak to supporters at the University of Mary Washington in Fredericksburg... Meanwhile, Romney will hold a rally at Van Dyck Park in Fairfax County. Both are visiting the Commonwealth amidst economic concerns, which are expected to be at the forefront of Thursday's events."

Progressive Point: Working Virginians support leaders who work for us, not just the wealthiest few, and share our values in supporting good schools, building good jobs, and protecting our communities. But Mitt Romney and Paul Ryan's top-down class warfare would make middle class families pay more taxes, end guaranteed Medicare, and cut Social Security--all to pay for more wasteful tax breaks for the already-rich.

Romney isn't telling Virginia families that his plan is more of the same trickle-down policies that got us into this economic mess in the first place. His plan would cut his own taxes while making the rest of us pay our share and his as well. Ryan isn't telling Virginia families that his plan would end Medicare as we know it and gut education, instead of investing in America's home front. For Virginians the choice is clear: a country where hardworking families pay more so the richest few pay less--or an America where we all pay our fair share and get a fair shot.

Get the Facts:

• Under Paul Ryan's plan, Mitt Romney would pay less than 1% in taxes. (The Atlantic, August 11, 2012)


• Mitt Romney's economic plan would raise taxes 95% of Americans to pay for tax cuts for the top 5% and would add a new $247,000 tax cut for the wealthiest 0.1% on top of the Bush tax cuts. (ThinkProgress, August 1, 2012)


• The Rep. Ryan/House GOP budget that Mitt Romney has endorsed proposes $871 billion in cuts to investments. (Center for American Progress, March 20, 2012)


• Mitt Romney's economic plan would cut potentiall over ten billion dollors that goes to police officers, firefighters, and teachers based on an analysis from the Center on Budget and Policy Priorities. (Washington Post, June 13, 2012)

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September 10, 2012

The Washington Examiner reports, "Sen. Steve Martin, R-Chesterfield, has introduced legislation that would eliminate the state's 6 percent corporate income tax starting in 2014, which would make Virginia the sixth state without one... Corporate income taxes make up about 5 percent of state revenues, the third largest chunk after the individual income and sales taxes, and totaled about $860 million last year... 'Unless he has another source of revenue, it's fiscally irresponsible at a time when we need an increase in revenues,' said Sen. Don McEachin, D-Henrico."

Progressive Point: Our leaders should work for our families, not for big corporate donors and the wealthiest few. Senator Martin, a candidate for the GOP nomination for Lt. Governor, has proposed cutting hundreds of millions of dollars from schools, health care, and public safety to pay for even more corporate tax breaks. This is the kind of out-of-touch legislation that rigs our economy for the 1% while middle class families struggle to get by. 

Senator Martin's proposal would gut the education, healthcare, and public safety programs that make our communities great. When Virginia families are struggling, cutting schools, roads, and public safety for more 1% tax breaks is a reckless policy that won't grow our economy. Virginia works best when we value working families and everyone pays their fair share. Corporations have to play by the same rules we do so our families and small businesses can get a fair shot.

Get the Facts:

• Sen. Martin's legislation would completely eliminate Virginia's corporate tax rate, which makes up about 5% of our entire state revenues - the 3rd largest source of all state revenue. (Washington Examiner, September 9, 2012)


• According to a recent report by 24/7 Wall St. Virginia has cut support to localities by 8.5 percent between 2009 and 2010 which equals a loss of $1 billion for communities, which was the 3rd worst cut in the entire country. (Roanoke Times, July 9, 2012)


• Virginia loses $12.5 billion in revenue a year through credits and giveaways that receive little-to-no scrutiny and accountability. (JLARC)

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August 31, 2012

Yesterday, ThinkProgress reported, "Vice presidential candidate Rep. Paul Ryan (R-WI) is taking flack on the morning news shows for his keynote address at the Republican National Convention Wednesday night. His speech was riddled with false claims, so much so that even Fox News wrote, 'To anyone paying the slightest bit of attention to facts, Ryan's speech was an apparent attempt to set the world record for the greatest number of blatant lies and misrepresentations slipped into a single political speech.'" Today, Paul Ryan will bring his claims and campaign to Richmond, Va.

Progressive Point: Virginians respect leaders with honor, not politicians who play on our fears to gain power. From attacking the President for the Medicare savings they supported to the stimulus funding Ryan lobbied for and the national credit downgrade the Tea Party caused, Romney and Ryan are running a campaign based on lies.

Romney and Ryan's "you pay more so we pay less" plan would make the middle class pay more taxes, end guaranteed Medicare, and cut Social Security, all to pay for more wasteful tax breaks for the already-rich. Elections should be about competing based on your record and your vision for the future, but Romney and Ryan are just trying to see  how many lies and distortions they can get away with. Virginia cannot solve its problems if leaders can't tell the truth.

Get the Facts:

• Under Paul Ryan's plan, Mitt Romney would pay less than 1% in taxes. (The Atlantic, August 11, 2012)


• Mitt Romney's economic plan would raise taxes 95% of Americans to pay for tax cuts for the top 5% and would add a new $247,000 tax cut for the wealthiest 0.1% on top of the Bush tax cuts. (ThinkProgress, August 1, 2012)

• Via ThinkProgress: 6 Worst Lies In Paul Ryan's Speech

1. "A downgraded America." Ryan blamed the president for the nation's credit downgrade in August 2011 after Republicans threatened to allow the government to default on its debt for the first time in history. But the ratings agency explicitly blamed "Republicans saying that they refuse to accept any tax increases as part of a larger deal."

2. "More debt than any other president before him, and more than all the troubled governments of Europe combined." Romney has made the almost identical claim, that Obama has amassed more debt "as almost all of the other presidents combined." But their math doesn't add up: when Obama took office, the national debt was $10.626 trillion. It has increased to slightly above $15 trillion.

3. Shuttered General Motors plant is "one more broken promise." Ryan described a GM plant that closed down in his hometown, Janesville, Wisconsin, and blamed Obama for breaking his promise to keep the plant open when he visited during his campaign. But Obama never made that promise, and the plant shut down in December 2008, before Obama even took office.

4. Obama "did exactly nothing" on Bowles-Simpson. Ryan said, "He created a bipartisan debt commission. They came back with an urgent report. He thanked them, sent them on their way, and then did exactly nothing." In fact, Ryan was instrumental in sabotaging the commission, leading the other House Republicans in voting against the plan.

5. "$716 billion, funneled out of Medicare by President Obama." Ryan's favorite lie is a deliberate distortion of Obamacare's savings from eliminating inefficiencies. Furthermore, Ryan's own plan for Medicare includes these savings. Romney has vowed to restore these cuts, which would render the trust fund insolvent 8 years ahead of schedule.

6. "The greatest of all responsibilities is that of the strong to protect the weak." Ryan closed the speech with an invocation of social responsibility, saying, "The truest measure of any society is how it treats those who cannot defend or care for themselves." However, numerous clergy members have condemned Ryan's budget plan as "cruel," and "an immoral disaster" because of its devastating cuts in social programs the poor and sick rely on. Meanwhile, Ryan would give ultra-rich individuals and corporations $3 trillion in tax breaks.

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July 26, 2012

The Richmond Times-Dispatch reports, "More than 2,700 homes or businesses in rural Virginia that don't have access to high-speed Internet will be able to get service under a federal subsidy program that kicked off Wednesday. Telecommunications provider CenturyLink Inc. said it is planning to use $2.1 million from the Federal Communications Commission's "Connect America Fund" to deploy broadband in rural areas that would reach more than 7,000 people."

Progressive Point: The President was right when he said America was built by Americans--people, government, and businesses working together. The same is true of Virginia. Businesses depend on our highway system to move their products, our school system to educate their future workers, and right now we're working together to provide access to high-speed Internet to thousands of working Virginians.

Mitt Romney has admitted that "a lot of people help you in a business," but today he's still distorting what the President said for political gain. But Romney has also said that we have to work together to build economic development opportunities. Today in Virginia, business and government is working together to provide internet access--and working to invest in industry, our families, and our future.

Get the Facts:

• The Rep. Ryan/House GOP budget that Mitt Romney has endorsed proposes $871 billion in cuts to investments. (Center for American Progress, March 20, 2012)


• The investment in increasing access to high-speed Internet in Virginia is "part of $300 million set aside by the FCC to subsidize the extension of broadband service in underserved areas of the nation." (Richmond Times-Dispatch, July 26, 2012)


• The fund program is desgned "to help spark economic development in rural areas by incentivizing broadband service" according to the Chairman of the FCC. (Richmond Times-Dispatch, July 26, 2012)

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