The Economy

While Northern Virginia has been spared some of the worst effects of the Great Recession, Congressman Connolly understands that creating jobs and spurring economic recovery must remain our top priority.  In 2009, Congressman Connolly voted for the American Recovery and Reinvestment Act (H.R. 1) to create jobs and invest in the 21st century economy.  He also supports a number of initiatives to cut taxes and encourage growth.

• - Voted for the HIRE Act (H.R. 2847) to give small businesses a tax credit when they hire new employees.
• - Voted for the Small Business Jobs Act (H.R. 5297) to provide $12 billion in new tax relief for small businesses and to create a small business loan fund to leverage $300 billion in private-sector lending.
• - Voted for President Obama’s tax cut compromise (H.R. 4853) to prevent a tax increase in the midst of a fragile economic recovery and to protect small businesses and families.
• - Cosponsored legislation (H.R. 422) to extend and make permanent the Research & Development Tax Credit, critical for Northern Virginia’s technology-driven economy, to encourage businesses to invest in innovative American jobs.
• - Voted to eliminate the burdensome 1099 tax form requirement on small businesses (H.R. 5982 and H.R. 4).
• - Championed the Build America Bonds program, introducing H.R. 11, to create hundreds of thousands of jobs by investing in America’s infrastructure – repairing bridges and roadways and building needed schools.

He is a member of the pro-business New Democrat Coalition, where he co-chairs the Task Force on Innovation, Competitiveness and Tax Reform. In Northern Virginia, Congressman Connolly has fought to create new jobs by encouraging growth of the technology and government contracting industries, where he spent two decades working prior to his election to Congress.  Northern Virginia is now home to several Fortune 500 companies and has one of the lowest unemployment rates in the nation.  Nonetheless, Congressman Connolly has fought to help families threatened by foreclosure.  He works individually with families to help them secure loan modifications to avoid foreclosure and has sponsored legislation (H.R. 237 – the Homeowner Assistance Program) to prevent military families from facing foreclosure when they are transferred to another duty station.