Santorum Campaign Press Release - Santorum Releases "Made in America" Plan to Revitalize the U.S. Economy

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 21^st 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.