Kaine addresses Chamber of Commerce

VIRGINIA BEACH, Va. (WAVY) - Senator-elect Tim Kaine (D-VA) addressed the Hampton Roads Chamber of Commerce Wednesday, stating sequestration is a self-inflicted wound among Congress.

Kaine spoke to what he sees as the three immediate challenges before the U.S. Senate; fiscal responsibility, economic growth and the ability to find common ground. He emphasized the importance of the last point thoroughly.

He told the chamber members finding common ground is the only path the Senate has to reach fiscal responsibility and to get the economy moving. Democrats and Republicans seem deadlocked as they fight over where to raise taxes and what to slice out of the federal budget. The Senator-elect called the threat of sequestration "a self inflicted wound among Congress because of their unwillingness to work together."

"We have to find a short-term deal that will avert some of the significant effects of the 'fiscal cliff' and I believe we will," Kaine said. "The better the deal is, the more it will give us a springboard. Then, into step two, which is the long-term deal to find more fiscal responsibility. I think Congress should allow the Bush tax cuts to expire over $500,000 because it's a compromise between the two side's positions."