Economic Recovery Through Private Sector Growth
The American economy lost over 7 million jobs, and the American people are more than 4 trillion dollars deeper in debt today because the tax-and-spenders in Washington, D.C. failed to heed President Reagan’s words:
“Government is not the solution to our problem.
Government is the problem.”
The multi-trillion dollar government stimulus programs and taxpayer-funded bailouts have failed. A growing private sector economy is the only “stimulus program” that will create the jobs needed to restore America’s economic strength.
Congressman Jordan and Congressman Jason Chaffetz (R-UT) have introduced H.R. 5029, the Economic Freedom Act, a plan to unleash the power of America’s private sector economy.
The Economic Freedom Act would terminate the TARP and repeal the remaining stimulus, replacing them with a real stimulus plan to create jobs by:
Reducing The Payroll Tax by Half for 2010
Providing immediate stimulus by increasing workers’ paychecks and improving the bottom line for employers
Eliminating The Capital Gains Tax
Encouraging the risk-taking and investment that is at the heart of the entrepreneurial spirit
Reducing the Corporate Tax Rate to 12.5%
Improving America’s competitiveness in the global market and providing incentives for expansion and job creation
Permanently Eliminating the Death Tax
Ensuring that small businesses and family farms, the engine of our economy, will continue creating jobs for future generations
Providing Immediate Business Expensing
Encouraging long-term reinvestment in business, increasing competitiveness and creating jobs
