FOR IMMEDIATE RELEASE
CONTACT: Kevin Madden (857) 288-6390
Governor Romney's Economic Stimulus Plan – Washington Must Act Now:
Governor Romney's Economic Stimulus Plan Would Provide Much-Needed Relief To Taxpayers, Businesses And Homeowners. Today, our economy is facing unprecedented challenges both here at home and abroad. Our economy needs pro-growth stimulus, but Governor Romney believes any stimulus package should return money to American taxpayers, not increase already out-of-control government spending. To promote economic growth, Governor Romney is proposing an economic stimulus plan that would lower taxes on individuals, reduce taxes for businesses and help homeowners through the current housing crisis.
- Individuals: Governor Romney would permanently reduce the lowest income tax bracket, permanently eliminate payroll taxes on seniors and make middle-class savings tax free.
- Businesses: Governor Romney would institute immediate 100% expensing of equipment for two years and permanently reduce the corporate tax rate.
- Homeowners: Governor Romney would reform and expand Federal Housing Administration (FHA) loan portfolio limits to allow larger loans to homeowners.
INDIVIDUALS: Governor Romney's Economic Stimulus Plan – Pro-Growth Tax Cuts For Individual Taxpayers:
Permanently Reduce The Lowest Income Tax Bracket to 7.5%. Permanently cutting taxes for all taxpayers will put more money in workers' pockets and stimulate consumer confidence and spending.
- Cutting The Lowest Tax Rate From 10% To 7.5% Will Provide Up To A $400 Tax Cut To Each American Taxpayer.
- Governor Romney Proposes Providing An Immediate Retroactive Tax Credit Reflecting The Lower 7.5% Tax Rate For 2007 Earnings To Employees Who Earned Less Than $97,500 In 2007. This tax cut would immediately stimulate the economy as taxpayers with the highest propensity to consume receive their increased 2007 tax refunds.
- Permanently Reducing The Lowest Bracket Is A Pro-Growth Tax Cut For The Tens Of Millions Of Americans In The Lowest Income Tax Bracket.
- Permanently Eliminate Payroll Taxes On Employees Over The Age of 65. It is not fair that seniors that have worked their whole life and earned their full Social Security benefit continue to owe payroll taxes to the federal government.
- In This Uncertain Economic Environment, More And More Seniors Are Returning To The Workforce. Governor Romney's proposal will provide an immediate tax cut to working seniors.
- Governor Romney Believes That Seniors Have Already Earned Their Full Social Security Benefit And Should Not Owe Additional Payroll Taxes For Income Earned After Age 65.
- Make Middle-Class Savings Tax Free. Governor Romney's plan will allow middle class Americans to save tax free by changing the tax rate on interest, capital gains and dividends to absolutely 0%. By helping more Americans save and invest, we can meet the challenges of an aging population and ensure the financial security of America.
- Allow Over 95% Of American Families To Save And Invest Tax Free: Any taxpayer with Adjusted Gross Income under $200,000 would pay a tax rate of absolutely 0% on all of the income they earn from their savings, capital gains and dividends.
- Expand The Investor Class: In recent years, over half of adult Americans have participated in the stock market either directly or through pension plans and mutual funds. Tax-free savings will encourage more families to build wealth by saving, investing and participating in the stock market, which will help grow the economy.
Institute Immediate 100% Expensing Of New Equipment Purchased By A Business For A Two-Year Period Retroactive To January 1, 2008. This plan would allow both large and small businesses to immediately invest in new equipment and capital improvements, which would immediately stimulate the economy and create new jobs.
- Boost U.S. Manufacturers And Vendors: Accelerating and increasing capital investment in equipment and other qualified assets in the U.S. will immediately provide a boost to U.S. manufacturers and vendors.
- Encourage Additional Business Investment: Entrepreneurs and small businesses, such as S corps and LLCs, which often face cash flow difficulties, will benefit greatly by the reduced cost of investment in equipment under this plan. Additional investment and expansion by these growing businesses will drive economic growth.
- Reduce The Corporate Tax Rate To 20% Over Two Years. Governor Romney believes we should immediately act to reduce the corporate rate to 25% for 2008 and 20% in 2009. A permanent U.S. corporate tax rate of 20% will attract capital, stimulate investment, and increase American competitiveness with the rapidly growing economies of the world.
- A More Competitive Corporate Tax Rate: Governor Romney has spoken throughout the campaign about the need to reduce our corporate income tax rate in order to compete more effectively against other countries with lower rates. The United States currently has the second-highest corporate tax rate in the Organization for Economic Co-operation and Development.
- Encourage New Capital Flows Into The United States: Cutting the corporate tax rate will cause new capital to flow to the U.S. and make our U.S. companies more competitive by providing additional funds for research, development, innovation, and hiring of additional employees.
Reform And Expand Federal Housing Administration (FHA) Loan Portfolio Limits:
- Lower The Amount Of Upfront Down Payment A Borrower Must Make, Allowing FHA To Help Nonprime Borrowers Who May Not Be Able To Meet The Current Requirement.
- Raise The Maximum Loan Amount Eligible For FHA Insurance, Allowing FHA To Serve More Borrowers In Higher-Priced Areas.
- Expand NeighborWorks America's Foreclosure Avoidance Initiative: Governor Romney proposes expanding NeighborWorks America's Foreclosure Avoidance Initiative to help American homeowners stay in their homes. NeighborWorks America assists homeowners by offering foreclosure counseling and identifying refinancing opportunities for U.S. homeowners.
Governor Romney's Economic Stimulus Plan Is In Addition To His Tax Proposals Which Will Provide A Sound Economic Framework For Long-Term Growth:
- Make The Bush Tax Cuts Permanent: Making the Bush Tax Cuts permanent is the first step to ensuring that Americans are able to keep more of their hard-earned money.
- Roll Back Tax Rates For All Americans: As President, Governor Romney will cut marginal tax rates across the board, allowing all Americans to save more money.
- Kill The Death Tax: It is unfair to tax Americans three times: first when they earn their money; second when they invest it and receive income from those investments; and third when they die.
- Make The Research And Development Tax Credit Permanent To Encourage Capital Investment And Innovation: Governor Romney believes that we must encourage companies to invest more in research and development to produce the innovations our companies need to win in the global economic competition.
- Oppose Any Increase In Social Security Taxes: We can strengthen Social Security without resorting to higher Social Security taxes that will impact all Americans. Governor Romney will oppose any proposed increase in Social Security taxes.
- Prevent The Alternative Minimum Tax (AMT) From Hurting More American Families: At the very least, Congress must pass a patch to the AMT that will prevent this tax from affecting more and more families in America.
Mitt Romney at Home:
Mitt Romney with Jay Leno:
Wow, my esteem for John McCain drops with every appearance. This man I count as an American Hero showed hints of that hair-trigger temper Washington talks about. He showed his slyness, dishonesty and willingness to perpetuate lies. I was saddened at the loss of any respect I had for this man in the past. He didn't annoy me last night, he made me sad. He is so fake, and he has never been that in the past. He sees nothing wrong with twisting the truth in order to make a point. He sees nothing wrong with this behavior on the campaign trail. I honestly ask, how can he, knowing what he fought for and knowing what the men and women of the armed forces today fight for, how can he even look himself in the mirror. No, I do not want this man as the next President of the United States.
With President Clinton, I knew he was an amoral, low down, scum sucking pig who was using the White House as a step toward running the United Nations. Yes, he wants to run the world, heaven help us. But with him, I knew he would betray America at every turn, he did, I wasn't surprised. (Read through every one of Clinton's Executive Orders to understand exactly what I'm talking about. With one hand he extended promise to the American people and behind his back he sold us out to the world.)
But with John McCain, wow, this is the first time I've seen two or three candidates in the Republican Party that actually hurt my heart. Huckabee - yeah, you know how I feel about someone that would perpetuate bigotry and hate. Paul - screw loose when it comes to foreign affairs, he actually scares me a little. But with McCain, to loose what respect I had for him because of the sacrifices he made for this country . . . that hurt.
I fear for the future of this nation with a McCain Presidency. I didn't used to, I used to think I'd be okay with him if Governor Romney lost. I am no longer okay with that, not in the slightest. Over the last several weeks, any support I would have held for him has completely dissipated. He's showing himself to be too dishonest, too willing to do anything to win, too willing to abandon values and morals to gain the White House. Not to mention that hair-trigger temper. Holy Cow! We're the last super power in the world. We cannot have him with his finger on the button, he doesn't have the self-control. Not to mention, the smarminess factor of his demeanor is becoming too much to handle.
McCain helped to get us into this mess.
Mitt Romney has a solid stance on Defense, the War on Terror and Foreign Affairs.
McCain - can't argue there, although he's I've heard "I'm proud to have supported the surge from the beginning. . ." in that smarmy voice a few too many times.
Mitt Romney has a solid stance on how to fix a Broken Washington, McCain won't even admit there is a problem or that he was part of it.
McCain is part of the problem, not the solution.
Mitt Romney is a Conservative with a true understanding of what being a Federalist is all about, small efficient, effective federal government, big state government. Let the people who live there decide what to do.
John McCain co-sponsored McCain/Kennedy (last year's amnesty bill which was shot down by the American people by the millions as they flooded Congress with phone calls, emails and faxes expressing their extreme displeasure over the course of action chosen by McCain and Kennedy. (Liberal)
John McCain co-sponsored McCain/Feingold (finance reform which has crippled some candidates and has encouraged others to break the law in order to continue campaigning, no I'm not going to name candidates, yet.) (Liberal)
John McCain voted against making President Bush's tax cuts permanent. (Liberal)
John McCain voted against oil exploration in the Arctic National Wildlife Refuse proving he has no intention of eliminating our independence on foreign oil. Are you aware that there is more oil in the Colorado, Wyoming and Utah than in all the Middle East? It is John McCain's senate and votes which have curtailed further exploration and the complete cessation of purchasing energy from foreign sources. (Liberal)
This is the man Florida voted for . . . little surprise, because he is for amnesty for illegal immigration.
Yes, McCain is for amnesty for illegal immigrants which are crippling our health care system and robbing American citizens of even the most basic care.
Yes, McCain is for amnesty for illegal immigrants who have lowered the level of education in every school catering to their inability to speak English thereby robbing American children of a solid education.
Yes, McCain is for amnesty for all illegal immigrants who have not broken the law. He insists the 2,000,000 who have crimes will be instantly deported. First, what's stopping them from deporting those guys now? Second, aren't all illegal immigrants criminals, for they have broken the law by entering this country illegally. Has he taken into account the fact that most illegal immigrants have false identification which was either procured via Identity Theft or by simply paying for fake identification? Has he taken into account the fact that most illegal immigrants continue to break the law by working under false or stolen social security numbers? Has he taken into account those who have not done that are working under the table, being paid in cash and not "paying into the system" in order to help defray the cost of that free health care?
I've heard everyone in defense of illegal immigrants scream about how expensive becoming an American citizen is . . . how much does it cost to get a coyote to smuggle you over the border? Yes, thousands.
So no, John McCain is not the man, and is apparently not even remotely qualified, to sit in the Oval Office.
On a side note: I've heard too many people say over the radio that they won't make up their mind about who to vote for until they are in the voting booth. Are you kidding me? The choices are simple. If you're a Republican . . . does being a Democrat look good to you? Vote for McCain. If you're a Republican and a Conservative who will defend the Constitution of the United States of America, will reduce and eventually eliminate our dependence on foreign energy, will fix the economy, will fix Washington . . . will literally get the job done as he has proven so many times . . . if that's what you like, Governor Romney is your man.
Super Tuesday is coming up -- the states casting their vote for the nominees are: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Idaho, Illinois, Kansas, Massachusetts, Minnesota, Missouri, New Jersey, New Mexico, New York, North Dakota, Oklahoma, Tennessee and Utah Republican and Democratic Primaries and Caucuses.
Be sure you get to the polls and cast your vote. McCain cannot win. I fear for our nation if he does.
Here is what the nation is saying about last night's debate:
National Review's Kathryn Jean Lopez: "He hit back and defending his honor and truth on Iraq. I don't think most Americans get "timetables was a buzzword." I think they get that neither of these guys are Harry Reid. The sum of it is oddly, unnecessarily, McCain came off badly during an Iraq round." (Kathryn Jean Lopez, "Is Romney Reading the Corner?" National Review's The Corner Blog, http://corner.nationalreview.com, Posted 1/30/08)
Townhall's Mary Katharine Ham: "Mitt Romney is exactly right on letting states take the lead on global warming and emissions standards if they want to tighten them, but he does the work McCain wouldn't do by pointing out that those actions have consequences in higher costs and lost jobs. When he talks these issues, he is smart and right." (Mary Katharine Ham, "Global Warming Mania!" Townhall Blog, www.townhall.com, Posted 1/30/08)
Captain's Quarters' Ed Morrissey: "Mitt Romney won this debate. He looked crisp, sharp, had facts at his command, and exuded confidence." (Ed Morrissey, "Live Blog And Wrap Up," Captain's Quarters' Blog, http://www.captainsquartersblog.com/, Posted 1/30/08)
CNN's Bill Schneider: "A couple of Romney's answers were quite good, particularly on the Iraq timetables issue." (Bill Schneider, "The Night's Big Winner: Huckabee," CNN's Political Ticker Blog, http://politicalticker.blogs.cnn.com, Posted 1/30/08)
- Schneider: "Romney's giving a pretty interesting conservative explanation of a health care plan that otherwise makes conservatives nervous. As he explains, it forces people to pay their own way - which they get." (Bill Schneider, "Romney Makes A Sale On Health Care," CNN's Political Ticker, http://politicalticker.blogs.cnn.com, Posted 1/30/08)
- Schneider: "Romney's giving a full-throated rebuttal to McCain's charge that he proposed a timetable on Iraq withdrawal – and he's right. That was a strong answer." (Bill Schneider, "Romney Calls McCain Out," CNN's Political Ticker, http://politicalticker.blogs.cnn.com, Posted 1/30/08)
National Review's Mark Hemingway: "I think I can say that Romney was the clear winner in the debate." (Mark Hemingway, "For the First Time," National Review's The Corner Blog, http://corner.nationalreview.com, Posted 1/30/08)
- Hemingway: "[Gov. Romney] showed an admirable fighting spirit." (Mark Hemingway, "For the First Time," National Review's The Corner Blog, http://corner.nationalreview.com, Posted 1/30/08)
- Hemingway: "Romney kept his head about him and remained gracious even as a number of his charges against McCain stuck." (Mark Hemingway, "For the First Time," National Review's The Corner Blog, http://corner.nationalreview.com, Posted 1/30/08)
The Atlantic's Marc Ambinder: "Applause from audience when Romney says Reagan would have found the dirty tricks reprehensible." (Marc Ambinder, "Debate Wire," Atlantic Online, http://marcambinder.theatlantic.com/, Posted 1/30/08)
- Ambinder: "Romney gives a strong answer that weaves together his experience with his resume...notes that Abe Lincoln wasn't a military leader..." (Marc Ambinder, "Debate Wire," Atlantic Online, http://marcambinder.theatlantic.com/, Posted 1/30/08)
Instapundit's Glenn Reynolds: "GOOD POINT BY ROMNEY about how McCain shouldn't 'demean' people who start businesses. McCain has been doing that a lot, acting as if meeting a payroll is somehow less honorable than working for the government." (Glenn Reynolds, "Good Point By Romney," Blog, http://instapundit.com/, Posted 1/30/08)
If you'd like to hear Mitt Romney speak in person, here's where he'll be today.
18030 NEWHOPE STREET
FOUNTAIN VALLEY, CALIFORNIA
For more information or to RSVP, please contact
California@MittRomney.com or (760) 504-9203