PRESS
RELEASE from Rick Santorum for President
November 18, 2011
For Immediate Release
Contact: Matt Beynon
SANTORUM RELEASES "MADE IN AMERICA"
PLAN TO REVITALIZE THE US
ECONOMY
Santorum Plan
Focused On Empowering American Families, Building
Economic Freedom
Verona, PA -
Former Senator Rick Santorum
(R-PA) released his plan to revitalize and rejuvenate the American
economy by empowering American families and building economic freedom.
Rick Santorum
believes that to have a strong national economy, we must have strong
families. We are a land of opportunity where all Americans should have
the chance to rise on their own merits and hard work. Sadly, President
Obama believes just the opposite and is using class warfare to divide
this country.
Rick Santorum
is committed to celebrating the family by reviving our economy and
creating jobs in America again with a smarter and simpler tax code.
Santorum
will roll back job-killing regulations, force the federal government to
shrink and live within its means by passing a Balanced Budget Amendment
and reinvigorate our domestic manufacturing and energy potential.
His
vision for America is to restore America's greatness through the
promotion of faith, family and freedom.
MADE
IN
AMERICA: EMPOWERING AMERICAN FAMILIES, BUILDING ECONOMIC FREEDOM
- Cut
and simplify personal income taxes by cutting the number of tax rates
to just two - 10% and 28% returning to the Reagan era pro-growth top
tax rate
- Simplify the tax code and reduce middle
income taxes by eliminating the Alternative Minimum Tax (AMT)
- Simplify the tax code, encourage savings
and investment and reduce taxes by eliminating the Death Tax
- Lower the Capital Gains and Dividend tax
rates to 12% to spur economic growth and investment
- Reduce taxes for families by tripling
the personal deduction for each child
- Reduce and simplify taxes for families
by eliminating marriage tax penalties throughout the federal tax code
- Retain deductions for charitable giving,
home mortgage interest, healthcare, retirement savings, and children
- Cut the corporate income tax rate in
half to make our businesses competitive around the world, from 35% to
17.5%
- Eliminate
the corporate income tax for manufacturers - from 35% to 0% - which
will spur middle income job creation in the United States and will
create a job multiplier effect for workers
- Spur innovation in America by increasing
the Research & Development Tax Credit from 14% to 20% and make it
permanent
- Eliminate
the tax on repatriated taxable corporate income - from 35% from 0% -
when manufacturers invest in plant and equipment; and reduce the
corporate tax rate from 35% to 5.25% on other repatriated income and
allow for 100% expensing for new business equipment
- Repeal
and Replace ObamaCare with market based healthcare innovation and
competition to improve America and America's health and create jobs;
- Reduce Federal (non-defense
discretionary spending) to 2008 levels through across the board
spending cuts;
- Eliminate
all agriculture and energy subsidies within four years letting the
markets work, eliminate resources for job killing radical regulatory
approaches at the EPA and refocus its mission on safe and clean water
and air and commonsense conservation, eliminate funding for Planned
Parenthood and support adoption, reduce funding for the National Labor
Relations Board (NLRB) for extreme positions undermining economic
freedom, eliminate funding for implementation of ObamaCare, and
eliminate funding for United Nations organizations that undermine
America's interests
- Pass a Balanced Budget Amendment to the
Constitution capping government spending at 18% of GDP
- Support
Legislation to Reform the Congressional Budget Process and support
legislation that requires Congress to pass constitutionally required
spending bills or forfeit its members' pay for the next fiscal year
- Eliminate all other Obama era
regulations with economic impact over $100 million
- Negotiate 5 Free Trade Agreements and
submit to Congress in first year of Presidency
- Tap into America's vast domestic energy
resources to power our 21st century economy without picking winners and
losers so all American families and businesses can have lower energy
cost
- Unleash
innovation in telecommunications and Internet consumer options by
getting government out of the way which will expand productivity and
lower costs
- Reform Social Security and Medicare for
sustainable retirements
- Block Grant Medicaid, Housing, Job
Training, and other social services to the States
- Freeze
current non-defense related federal worker pay levels for a year and
reduce federal workforce by at least 10% with no compensatory increase
in the contract workforce
- Secure
our border, streamline the legal immigration process to attract highly
skilled talent and entrepreneurs from around the world and reform the
agriculture worker program so it works for America's farmers
- Reclaim
the role of parents as the decision makers in their children's
education and incentivize the states to promote parental choice and
quality educational options because the family is the foundation of the
economy
- Promote
tort reform and alternatives to litigation for federal policies and
programs; and incentivize the states to expand these reforms across our
economy
- Approve the Keystone Pipeline and other
job creating initiatives delayed and burdened excessively by government
regulation
- Overturn
the National Labor Relations decision preventing Boeing from opening up
its airplane factory in South Carolina and prevent other decisions like
it
- Phase out Fannie Mae and Freddie Mac's
government backed role in mortgages and homeownership within five years
- Audit the Federal Reserve and return it
to its original purpose - a single charter to only manage inflation
- Strengthen
our national security and national defense so that we are not dependent
upon our foes or competitors for critical manufacturing, technology,
energy and other security needs
Rick Santorum
said: "Our nation's first economy is the family, and we must create an
environment where families can thrive and succeed in America again.
Government must get out of the way, and encourage an economic
environment where the American entrepreneurial spirit can again take
our nation to the heights of success. My plan does just that - it
fosters families, gets the government out of the way, and rebuilds the
great middle of America that has been lost over the past 50 years. It's
time that we focus on getting American back to work."
Santorum
said: "We need to get our economy going again, and those who are
struggling the most is the great middle of America that has seen their
manufacturing jobs flow to India and China. We must reverse course by
rebuilding the engine that drove America as a world power. I grew up in
a steel town and know first-hand how our nation's first economy, the
family, has been hit over the past half-century. I'm ready and able to
provide the leadership to make made in America a theme of pride again."
During his time in
public office, Senator Santorum
was a strong advocate for a family and small business-friendly tax
code, serving as the leader to pass the Bush tax cuts of 2001 and 2003
that revitalized our economy after the terrorist attacks of 9/11. For
his work on reducing the tax burden on all Americans, Senator Santorum
has received praise from groups ranging from the Club for Growth to
Americans for Tax Reform and the National Federation of Independent
Business.