Economy & Jobs
Throughout his career, Senator Blumenthal has been a tireless advocate for small businesses and their employees. As Connecticut’s Attorney General, he successfully fought to prevent the hostile takeover of New Britain-based Stanley Works, and kept the company in Connecticut. In the Senate, his top priorities include pushing for sound federal policy that helps businesses create and retain good-paying jobs in Connecticut and the United States, and reversing the trend of outsourcing jobs and businesses abroad.
Senator Blumenthal knows that federal spending is out of control and our deficit is way too high. He believes that we need to take common-sense steps to close tax loopholes that allow large corporations to avoid paying their fair share, and end wasteful spending on programs that do not work or are unnecessary. He has led the fight to end tax subsidies for oil and gas companies and redirect that money to support the development of clean, renewable sources of energy. Smart, targeted spending cuts like these will reduce the amount of revenue the government must collect in order to operate.
In addition, Senator Blumenthal supports giving a much-needed targeted tax break to small business owners in Connecticut – many of whom want to hire new employees, but may be waiting for the economy to recover completely to do so. His Manufacturing Reinvestment Account Act, which will allow small manufacturing businesses to set aside money at a lower tax rate to reinvest in their business, will help revitalize the small businesses that power our economy and help put our economy back on track.