19 days before GOP primary, Matt Bevin outlines his economic plan
05/01/2014 02:16 PM
Seeking to grab back control of the public debate in the GOP U.S. Senate primary, challenger Matt Bevin condensed his economic philosophy into a nine-page illustrated plan that he says will generate more jobs.
Bevin’s theme throughout the plan is that government must “get out of the way” of the private sector.
Bevin’s outline features several points which he’s already often repeated in the campaign including: increasing global competitiveness, decreasing regulatory burdens, right to work legislation, removing infrastructure costs, improving education and simplifying the tax code.
Click here for a link to his plan.
Increasing global competitiveness
By lowering the corporate tax rate and closing tax loopholes Bevin explains that by changing that structure it will give, “smaller companies a chance to expand, help large companies stay in the country, and encouraging foreign companies to return offshore corporate tax profits to the United States with a 10 percent tax fee assessed.
Repatriating offshore corporate taxes and lowering the corporate income tax is something U.S. Sen. Rand Paul has talked about for several years.
Bevin also makes a pitch for the U.S. to become energy independent by opening up the outer continental shelf and continued exploration of “vital resources.”
Decreasing regulatory burdens
Borrowing another page from Paul, Bevin called on Congress to pass the REINS Act — which would give Congress more power over the executive branch. The act calls on Congress to approve every major rule proposed by the executive branch with an economic impact of more than $100 million before being enacted.
Bevin also wants to stop the Environmental Protection Agency and review all federal regulations.
Right to work
Writing that unions “once had an important role in America,” Bevin called for a national right to work law. The legislation effectively ends open-shop workplaces by saying employees must whether or not to be represented by a union.
Bevin says the United States will have enough money to fix America’s failing infrastructure thanks to a permanent ban on earmarks.
“Instead of focusing on pet projects, we need to focus our attention on bringing our infrastructure back to a functional level.”
Bevin wants to open up school choice and take more control back from federal education standards.
“The current system is not working and we need to return control of schools to local communities where they know what their young people need to achieve and compete in a global world.”
Repealing the Affordable Care Act
Continuing his call throughout the campaign Bevin calls for the full scale repeal of the Affordable Care Act and replacing it with “free market solutions.”
Another way to reduce health care costs is medical tort reform against frivolous lawsuits, Bevin’s plan says.
Bevin also makes a pitch to simplify the overall tax code.
“I support scrapping the current tax code, and replacing it with a tax system that is
broader, fairer, and simpler. Until such time that we may implement a flat tax or fair tax, I will fight to reduce the tax burden by lowering the current tax rates and abolishing the death tax,” Bevin writes.
The campaign spokeswoman for U.S. Sen. Mitch McConnell responded to Bevin’s jobs plan with a vitriolic assessment of his character — again calling into question Bevin’s resume.
“Kentuckians know better than to trust their livelihoods to a man like Matt Bevin who lies on his resume and depends on federal government bailouts to keep his own businesses afloat,” said Allison Moore. “Sen. McConnell has been a true champion for Eastern Kentucky and remains committed to fighting for Kentucky jobs against the liberals in Washington determined to take them away.”
Below the Fold
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