“While economists and politicians look at stock prices, interest rates, money supply, and consumer confidence for measurements of our economic outlook, for most of us these measurements are widely irrelevant in our everyday lives. People cannot eat GDP, fill their gas tanks with the interest rate, clothe their families with stock prices, or pay college tuition bills with the unemployment rate. Everyday circumstances are what shape our personal economic outlook. They are the price of gas, the total in our savings account, the medical bill in the mail, the credit card balance waiting to be paid, and the tax assessment on the kitchen counter. These are the indicators the federal government needs to be concerned about to get our economy back on track.”
- Congressman Randy Forbes
Randy's Plan for Our Economy
Strengthening the Economic Health of Our Families
Congressman Forbes believes that the federal government has a significant role in strengthening the economic health of our families. He has supported taking bold action on energy and gas prices – one of the lifelines of our economy – placing consumer safeguards in our mortgage lending industry, increasing financial literacy in our schools and communities, and increasing access and affordability of health care.
Bringing New Industry and Job Growth to Virginia’s Fourth District
Congressman Forbes has fought to bring new high-paying jobs to Virginia’s Fourth District. Congressman Forbes has worked to position Fort Lee to bring over 11,000 jobs to the region through BRAC expansion and was at the front-end of championing job growth in Hampton Roads through the expansion of the modeling and simulation industry that has brought 4,500 jobs to the area with average salaries of $83,000. Across the district, Congressman Forbes has worked aggressively with localities to secure funding for workforce development and technology infrastructure which bolster local economies and expand job opportunities.
Reducing Tax Burdens and Simplifying the Tax Code
Especially at a time when Americans are facing increasing energy costs, rising tuition bills, and increasing food prices, permanent tax reform will put more money in the pockets of hardworking Americans and will restore needed predictability in our economy. Congressman Forbes supports increased tax credits for working families with children so they can better meet everyday expenses for their families. Additionally he has supported a simplified and streamlined tax code that will restore permanent predictability in our tax laws and avoid the stop-and-start tax policies that make family and business financial planning difficult.
Reforming Government Spending
Just as families and businesses have to balance their budgets and control their spending, Washington has a responsibility to be good stewards of taxpayers’ dollars. Congressman Forbes supports the elimination of unneeded and duplicative government programs, has worked for policies that will reduce the federal deficit and supports increased transparency in government spending so Americans know how their money is being spent.
Strengthening Small Businesses
Business belongs in the hands of America’s entrepreneurs, not the federal government. Congressman Forbes supports decreasing regulation and job-killing small business taxes so we can increase global competitiveness and allow for faster job growth. Additionally, Congressman Forbes believes in reducing the cost of health insurance to small business owners by providing more options like association health plans and health savings accounts.
Supporting Our Farmers and Our Food Security
In a time of rising food prices, continued uncertainty over international agriculture, and concerns over food safety and security, America’s farmers provide a much-needed safety net for our nation’s economy. While the farm bill contained some provisions I disagreed with, it nevertheless is a critical piece of legislation that supports and sustains America’s agricultural industry and is key in supplying our nation with an adequate food supply and protecting America’s food security. Congressman Forbes has consistently voted to support Virginia’s farming industry, to continue our farmers’ access to financing through local credit unions, and to uphold our agricultural heritage. Congressman Forbes has worked to ensure that we aren’t as dependent on foreign food one day as we are on foreign oil today.
Encouraging Savings and Financial Literacy
Household savings in the United States is now the lowest it has ever been and the proportion of income that households have set aside has been near or below zero. Congressman Forbes believes in encouraging saving and investing by reducing the capital gains tax and promoting financial literacy for our younger generations. Congressman Forbes supports policies that protect the value of the dollar so Americans feel comfortable saving and investing their money. Congressman Forbes has supported tax credits to financial institutions that match the savings of low-income families.