Reduce the corporate income-tax rate from 6 percent to 4 percent and cut the income-tax rate for individuals from 5.75 percent to 5 percent. Cuccinelli says he can make up for the lost revenue by closing tax loopholes. Meanwhile, he says, the state would benefit from increased business activity, generating tax receipts. He also says the lower tax rates would make Virginia more attractive to companies looking to move or expand.
Review and streamline the state’s business-incentive programs. Current tax breaks and grants are often ineffective, he says. Others, he adds, leave state officials in the position of “picking winners and losers,” something he would like to avoid.
Establish an Office of the Small Business Advocate to serve as a one-stop shop for people interested in starting a small business. The office would also work with local governments to establish a single Web page that would include a comprehensive list of requirements for starting a business.
Establish a commission to examine eliminating or reducing “the harmful effects” of the Machine and Tool Tax and the Merchants’ Capital Tax.
Cap the growth of state government so it does not exceed population growth and inflation.
Broaden the curriculum for science, technology, engineering and math in public schools.
More closely coordinate community colleges with the needs of workforce development.
Ensure that the growth of state government does not surpass inflation plus population growth, which his campaign says would help make sure that government spending does not “crowd out” private enterprise.
Invest in education, which he calls an essential “building block” that allows private business to prosper. He has proposed increased support for community colleges to improve their workforce development programs. He also has called for increased spending in K-12 education while working to control costs and increase financial aid in higher education.
Invest in transportation, another building block that McAuliffe says enables business growth.
Increase tax credits for commercializing biotechnology innovation. Calling biotechnology a promising source for jobs for the future, McAuliffe also wants to create a start-up loan fund to help entrepreneurs, inventors and scientists launch businesses.
Appoint a chief jobs-creation officer to cut red tape and solve problems for business.
Appoint a full-time staff member to help ease the transition of veterans into the workforce.
Expand support for tourism.
Build support to develop emerging industries, including cybersecurity and advanced manufacturing.
Expand Medicare under the health-care law and have training in place to fill the new jobs that will be created as a result.
— Michael A. Fletcher