Jon Huntsman made waves today as the first candidate of either party (that includes you, Mr. President) to present an actual jobs plan and outline for economic recovery. And with sweeping tax reforms it should put an end to any speculation that Jon Huntsman is anything other than a conservative.
The former Utah governor reiterated his call for a “revenue-neutral” restructuring that ends the “maze of special interest carve-outs, loopholes and temporary provisions” in the tax code. Echoing the bipartisan plan crafted by the Simpson-Bowles Commission, Huntsman proposed consolidating the sprawling system into three lower individual tax brackets at 8 percent, 14 percent and 23 percent. He called for reducing the corporate rate to 25 percent and a tax holiday for repatriation of corporate profits overseas. He also recommended eliminating capital gains and dividends taxes, as well as the alternate minimum tax.
But the plan does not stop there. Jon’s four pronged plan targets tax reform, regulatory reform, free trade and energy independence. Here are some highlights of the “Regulatory Reform” section from Governor Huntsman’s website:
Repeal Existing Regulations, Including Obamacare And Dodd-Frank.Obamacare, a $1 trillion bomb that our nation cannot afford, included more than 40 provisions that require, permit, or contemplate rulemaking by federal agencies and established dozens of new governmental organizations or advisory boards. Dodd-Frank fails to solve “too big to fail” and guarantees slow credit and slow productivity gains for the near future.
Dramatically Rein In The EPA. While the nation struggles to recover from economic turmoil, EPA has imposed vast new rules on the nation’s energy producers, crippling one of the most critically important components of economic recovery: energy supply. Among the rules Gov. Huntsman will oppose is a new ozone rule that would effectively halt new construction.
Curb The Excesses Of “Independent” Agencies. Gov. Huntsman will actively fight to ensure that the NLRB and other agencies abandon their job-destroying policies.
Reform The FDA By Streamlining The Testing And Approval Process. The FDA’s slow-paced approval process puts American companies, including those in the biotech and health sciences industries, at a comparative disadvantage to foreign competitors and imposes unnecessary delays.
Enact Comprehensive Patent Reform. The outstanding backlog at the US Patent Office hurts innovation. The approval process needs to be streamlined to weed out rent seeking and foster invention.
Stabilize The Housing Market. Our country cannot stabilize the economy without stabilizing the housing market. As president, Gov. Huntsman will privatize Fannie Mae and Freddie Mac, and let the housing market settle in order to see sustainable growth.
I highly recommend reading the full 12 page plan on Jon Huntsman’s website Jon2012.com. It is something that this country has lacked for a long time now. A real plan with real suggestions, not empty platitudes and feel-good slogans. That the first plan comes from a presidential candidate and not from the President himself says an awful lot about why Jon is running in the first place.