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Press Release - Gingrich Heads Back to New Hampshire to Promote His Prosperity Plan to Create Jobs

May 18, 2011

Atlanta, GA – Newt Gingrich will be in New Hampshire next week visiting the home of Ovide Lamontagne to take part in Granite Oath PAC presidential house parties in Manchester as well as meet with the Seacoast Federation of Republican Women in Portsmouth. Gingrich will discuss the jobs plan he first introduced to New Hampshire voters last month during a visit to St. Anselm College.

The Gingrich Jobs and Prosperity Plan is modeled after the successful economic policies Newt used as Speaker where he led the passage of welfare reform, Medicare reform and the largest capital gains tax cut in history. During the Gingrich Speakership spending, including entitlements, was reduced to the slowest rate in decades, Congress balanced the budget for four straight years and the unemployment rate dropped.

Noted economist Arthur Laffer calls the Gingrich plan "impressive." In an article published today in The American Spectator Laffer says, "The combination of pro-growth tax reform, spending restraint, and sound money will restore robust economic growth with low unemployment and low inflation….Moreover, in due course, the plan should be surprisingly inexpensive from the standpoint of lost revenues given the powerful effect it will have on the future growth path of the United States economy."

The Gingrich Jobs and Prosperity Plan:

  1. 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.
  2. 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; and ending the death tax permanently.
  3. 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.
  4. Strengthen the dollar by returning to the Reagan-era monetary policies that stopped runaway inflation and reforming the Federal Reserve to promote transparency.
  5. 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.
  6. Implement an American energy policy that removes obstacles to responsible energy development and creates jobs in the United States.
  7. Balance the budget by growing the economy, controlling spending, implementing money saving reforms, and replacing destructive policies and regulatory agencies with new approaches.
  8. 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.
  9. Fundamentally reform entitlement programs with the advice and help of the American people.

Newt Gingrich, Press Release - Gingrich Heads Back to New Hampshire to Promote His Prosperity Plan to Create Jobs Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/298746

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