This afternoon, Mitt Romney introduced a “business plan for the American economy” to an audience at McCandless International Trucks in North Las Vegas, Nevada. Speaking to the friendly crowd in a blue blazer and khaki pants, Romney outlined his 59-point jobs and economic plan, including 10 proposals he says he would implement on his first day in office.
Romney said he would immediately (if elected) send Congress five pieces of legislation. These bills would lower the corporate tax rate to 25 percent, implement trade agreements with South American countries and South Korea, order the feds to survey America’s domestic energy resources, block grant federal retraining programs to the states, and cut non-security discretionary spending by 5 percent.
Accompanying these bills, Romney said, would be five executive orders designed to release states from the “burdens of Obamacare,” eliminate all of the Obama-era government regulations that “unduly burden” the economy, streamline the oil drilling permit process, list China as a currency manipulator and consider sanctioning the country, and reverse President Obama’s pro-union executive orders.
In his speech, which the campaign says was “off the cuff,” Romney was critical of Obama and expressed his low expectations for the president’s upcoming job speech this Thursday. “I know what’s coming,” Romney said. “I’ve seen versions 1, 2, 3, 4 and 5. They’re not working.” He also called Obama’s plan a “pay phone strategy” in a “smart phone world.”
The details of Romney’s plan are expanded upon in a 160-page book, now available at his campaign website as a PDF file. These details include his plan for reforming the income tax code, eliminating the death tax, and requiring Congress to approve all federal regulations.
Romney’s two biggest rivals have already criticized his speech. Texas governor Rick Perry’s spokesman Mark Miner said that, as Massachusetts governor, “Mitt Romney failed to create a pro-jobs environment and failed to institute many of the reforms he now claims to support.” And, Alexander Burns reports, Ben LaBolt of the Obama reelection team blasted the plan. “Governor Romney repackaged the same old policies that helped create the economic crisis: boosting oil company profits and allowing Wall Street to write its own rules, more tax breaks for large corporations and more tax cuts for the wealthiest while working Americans are forced to carry a greater burden,” said LaBolt.
The Club for Growth, however, praised the Romney plan for being “pro-growth.” “Governor Romney deserves praise for his specific plan to put America on a path to economic prosperity,” Club for Growth president Chris Chocola said in a statement.