Source: Newt 2012, May 2011
The Gingrich Jobs and
Prosperity Plan
America only works when Americans are working. Newt has a pro-growth
strategy similar to the proven policies used when he was Speaker to
balance the budget, pay down the debt, and create jobs. The plan
includes:
- Stop the 2013 tax increases to promote stability
in the economy. Job creation moved from stagnant to improving in the
three months after Congress extended tax relief for two years. We
should continue what has worked by making the rates permanent.
- Make the United States the most desirable location for
new business investment through a bold series of tax cuts,
including: Eliminating the capital gains tax to make American
entrepreneurs more competitive against those in other countries; Dramatically
reducing
the
corporate
income
tax (the highest in the world) to
12.5%; Allowing for 100% expensing of new equipment to spur
innovation and American manufacturing; Ending the death tax
permanently.
- Move toward an optional flat tax of 15% that
would
allow Americans the freedom to choose to file their taxes on a
postcard, saving hundreds of billions in unnecessary costs each year.
- Strengthen the dollar by returning to the
Reagan-era monetary policies that stopped runaway inflation and
reforming the Federal Reserve to promote transparency.
- Remove obstacles to job creation imposed by destructive
and ineffective regulations, programs and bureaucracies. Steps
include: Repealing the Sarbanes-Oxley Act, which did nothing
to prevent the financial crisis and is holding companies back from
making new investments in the U.S; Repealing the Community
Reinvestment Act, the abuse of which helped cause the financial
crisis; Breaking up Fannie Mae and Freddie Mac, moving their
smaller successors off government guarantees and into the free market; Replacing
the
Environmental
Protection
Agency
with an Environmental Solutions Agency that works collaboratively with
local government and industry to achieve better results; and Modernizing
the
Food
and
Drug
Administration to get lifesaving medicines
and technologies to patients faster.
- Implement an American energy policy that removes
obstacles to responsible energy development and creates jobs in the
United States.
- Balance the budget by growing the economy,
controlling spending, implementing money saving reforms, and replacing
destructive policies and regulatory agencies with new approaches.
- Repeal and replace Obamacare with a pro-jobs,
pro-responsibility health plan that puts doctors and patients in charge
of health decisions instead of bureaucrats.
- Fundamental reform of entitlement programs with
the advice and help of the American people.
Source: Newt 2012, Sept. 2011 [ed. note addition of "Repealing the
Dodd-Frank Law" in point 8]
The Gingrich Jobs and
Prosperity Plan
America only works when Americans are working. Newt has a pro-growth
strategy similar to the proven policies used when he was Speaker to
balance the budget, pay down the debt, and create jobs. The plan
includes:
- Stop the 2013 tax increases to promote stability
in the economy. Job creation improved after Congress extended tax
relief for two years in December. We should make the rates permanent.
- Make the United States the most desirable location for
new business investment through a bold series of tax cuts,
including: Eliminating the capital gains tax to make American
entrepreneurs more competitive against those in other countries; Dramatically
reducing
the
corporate
income tax (among highest in the world) to
12.5%; Allowing for 100% expensing of new equipment to spur
innovation and American manufacturing; Ending the death tax
permanently.
- Move toward an optional flat tax of 15% that
would
allow Americans the freedom to choose to file their taxes on a
postcard, saving hundreds of billions in unnecessary costs each year.
- Strengthen the dollar by returning to the
Reagan-era monetary policies that stopped runaway inflation and
reforming the Federal Reserve to promote transparency.
- Remove obstacles to job creation imposed by destructive
and ineffective regulations, programs and bureaucracies. Steps
include: Repealing the Sarbanes-Oxley Act, which did nothing
to prevent the financial crisis and is holding companies back from
making new investments in the U.S; Repealing the Community
Reinvestment Act, the abuse of which helped cause the financial
crisis; Repealing the Dodd-Frank Law which is killing small
independent banks, crippling loans to small businesses and crippling
home sales; Breaking up Fannie Mae and Freddie Mac,
moving their smaller successors off government guarantees and into the
free market; Replacing the Environmental Protection Agency
with an Environmental Solutions Agency that works collaboratively with
local government and industry to achieve better results; and Modernizing
the
Food
and
Drug Administration to get lifesaving medicines
and technologies to patients faster.
- Implement an American energy policy that removes
obstacles to responsible energy development and creates jobs in the
United States.
- Balance the budget by growing the economy,
controlling spending, implementing money saving reforms, and replacing
destructive policies and regulatory agencies with new approaches.
- Repeal and replace Obamacare with a pro-jobs,
pro-responsibility health plan that puts doctors and patients in charge
of health decisions instead of bureaucrats.
- Fundamental reform of entitlement programs with
the advice and help of the American people.