The Economy

While Northern Virginia was spared some of the worst effects of the Great Recession, Congressman Connolly understands that protecting our economy must remain our top priority.  He has supported a number of initiatives to cut taxes and encourage growth.

• Voted for the HIRE Act to give small businesses a tax credit when they hire new employees.

• Voted for the Small Business Jobs Act 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 to prevent a tax increase in the midst of a fragile economic recovery and to protect small businesses and families.

• Cosponsored legislation 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.

• Championed the Build America Bonds program to create hundreds of thousands of jobs by investing in America’s infrastructure – repairing bridges and roadways and building needed schools.

As a member of the pro-business New Democrat Coalition, 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 numerous 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 to prevent military families from facing foreclosure when they are transferred to another duty station.