After four years of President Obama’s failed economic leadership, Romney would bring to the White House a specific, detailed plan for returning to fiscal responsibility and job creation.
His plan would cut federal spending as a share of GDP to 20% by 2016. It would reform our complex tax code by reducing tax rates 20% across the board while eliminating loopholes, specifically those for the highest earners, and maintaining revenue neutrality. It would also reduce the U.S. corporate tax rate, now the highest in the world, to 25%.
Under a Romney administration, the largest drivers of our debt would be reformed by giving more choice and responsibility to individuals rather than bureaucrats for managing their Medicare and Social Security. In the case of Medicaid, it would be block granted and sent back to the states. Romney’s plan will reduce onerous regulations and taxes, like Obamacare, and usher in a new era of fiscal certainty for business owners and entrepreneurs.
Romney will also champion energy independence, will approve the Keystone pipeline and stop the Environmental Protection Agency’s regulatory war on coal. Borrowing from his experience in Massachusetts, Romney will push for more school choice for parents and students, performance pay for teachers, and, with 3 million skilled jobs going begging, new skills training for skilled workers.