Priorities

Senator Warner made two appearances on the financial news channels today to promote his jobs proposal and discuss progress being made the reform the nation's financial regulatory system.

On Bloomberg, Senator Warner discussed the America Recruits Act of 2010, his new job creation legislation that would create a federal loan program to provide employers an additional incentive to locate IT and manufacturing jobs here in the United States.

"I used to be governor and as a former business guy, I remember recruiting companies to Virignia. I could compete against North Carolina or against California, but I couldn't compete against Korea or China or Ireland, whose government put a ton of money in [to attract those jobs]. I put forward a propsal that says let's jump-start, up to $10,000 per job, to supplement local and state economic development efforts so that we can drive more foreign direct investment here in America."

Senator Warner's proposal would be deficit-neutral and the $40 million cost of the program would be more than offset by the economic activity generated by these new jobs. For more information on the America Recruits Act, click here.

Earlier in the day, Senator Warner appeared on CNBC to discuss the latest progress and negotiations on the financial regulatory reform legislation that is working its way through the Senate Banking Committee.

Since last fall, Senator Warner has been working with Republican senator Bob Corker to address issues of resolution authority, systemic risk and making sure we never again hear the words "too big to fail."

"We already have 98 percent of the work done with our sections of the bill. ... There is a way through this and I'm glad that we're going to end up with a bipartisan bill. We're 18 months after AIG and Lehman [and] this is an area that is too important to fail."