Mitt Romney’s Plan for Jobs and Economic Growth

1. FIVE BILLS FOR DAY ONE
   • The American Competitiveness Act- Reduces the corporate income tax rate to 25 percent.
   • The Open Markets Act- Implements the Colombia, Panama, and South Korea Free Trade Agreements
   • The Domestic Energy Act- Directs the Department of the Interior to undertake a comprehensive survey of American energy reserves in partnership with exploration companies and initiates leasing in all areas currently approved for exploration
   • The Retraining Reform Act- Consolidates the sprawl of federal retraining programs and returns funding and  responsibility for these programs to the states
   • The Down Payment on Fiscal Sanity Act- Immediately cuts non-security discretionary spending by 5 percent, reducing the annual federal budget by $20 billion
2. FIVE EXECUTIVE ORDERS FOR DAY ONE
   • An Order to Pave the Way to End Obamacare- directs the Secretary of HHS & all relevant federal officials to let states to design their own health care solutions.
   • An Order to Cut Red Tape- directs all agencies to immediately initiate  the elimination of Obama-era regulations, and then caps annual increases in regulatory costs at zero dollars.  
   • An Order to Boost Domestic Energy Production- directs the Dept. of Interior to implement a process of for rapid issuance of drilling permits.
   • An Order to Sanction China for Unfair Trade Practices- directs the Dept. of the Treasury to list China as a currency manipulator in its biannual report and directs the Department of Commerce to assess countervailing duties on Chinese imports if China doesn’t move to float its currency.
   • An Order to Empower American Businesses and Workers- reverses the executive orders issued by Obama that tilt the playing field in favor of organized labor.
3. TAX POLICY.
   • Individual taxes.
     • Maintain marginal rates at current levels.
     • Further reduce taxes on savings and investments.
     • Eliminate the death tax.
     • Long-term goal: pursue a flatter, fairer, simpler structure.
   • Corporate taxes.
     • Lower the corporate tax rate to 25%.
     • Transition to a “territorial” tax system in which income is taxed only in the country where it is earned.
4. REGULATORY POLICY.
   • Repeal and replace Obamacare and Dodd-Frank.
   • Review and eliminate Obama-era regulations.
   • Cap new regulatory costs at zero dollars.
   • Require Congress to approve all major regulations.
   • Reform legal liability system.
5. TRADE POLICY.
   • Expanded markets.
     • Implement pending Free Trade agreements.
     • Conclude Trans-Pacific Partnership and pursue additional agreements.
     • Create Reagan Economic Zones.
   • Confronting China.
     • Improve enforcement at the border.
     • Pursue and protect legal rights.
     • Impose targeted tariffs or economic sanctions.
     • Designate China a currency manipulator & impose countervailing duties.
     • Insist on reciprocal government procurement.
6. ENERGY POLICY.
   • Significant regulatory reform.
     • Streamline and fast-track permitting processes.
     • Overhaul outdated legislation.
     • Reform nuclear regulation.
   • Increase production.
     • Inventory our nation’s resources.
     • Explore & develop our oil reserves.
     • Partner with our neighbors.
     • Extract shale gas.
   • Research and development.
     • Focus on basic research.
     • Design long-term funding sources free from politics.
7. LABOR POLICY.
   • Defend the free-enterprise system. Romney will appoint to the NLRB experienced individuals with a respect for the law and an even-handed approach to labor relations.
   • Guarantee workers free choice. He opposes “Card Check.” Romney will submit to Congress legislation, similar to the Secret Ballot Protection Act, that would require the use of the secret ballot in all union elections regardless of the preference of the union, employees, or employer.
   • Protect free speech. Mitt Romney will send Congress a bill prohibiting the use of mandatory union dues for political purposes.
   • Respect the rule of law.
8. HUMAN CAPITAL POLICY.
• Retraining workers.
  • Consolidate redundant programs.
  • Give authority to the states.
  • Create Personal Reemployment Accounts. Each eligible participant would have control over an account that contained funds to be put toward retraining.
  • Encourage private-sector participation.
• Attracting the best and the brightest.
• Raise visa caps for highly skilled workers.
• Retain graduates of our universities. Romney will also work to establish a policy that staples a green card to the diploma of every eligible student visa holder who graduates from one of our universities with an advanced degree in math, science, or engineering.
9. FISCAL POLICY.
• Cut, cap and balance. Romney will immediately move to cut spending and cap
  it at 20 percent of GDP. As spending comes under control, he will pursue further cuts that would allow caps to be set even lower so as to guarantee future fiscal stability.
• Enact entitlement reform. One option that should not be on the table is raising the payroll tax or expanding the base of income to which the tax is applied. Romney will push for the conversion of Medicaid to a block grant administered by the states.
• Reduce the federal workforce. Romney will not only halt this growth, but work to cut the current size of the federal workforce by 10 percent through attrition.
• Undertake fundamental restructuring.
• Pursue a balanced budget amendment.

Got to say this about Romney’s plan—it sure is comprehensive. Don’t think he left anything out. As for his executive orders all he needed to do is issue an executive order to exempt everyone from Obamacare (before Obamacare is reversed—as a backup plan) and to reverse all of Obama’s executive orders. I don’t believe any of them were good. You have to be careful about issuing executive orders. If you do too many it makes you look like a dictator and not a president. Especially if you are not letting Congress do their job. Then again some presidents may not care what they look like to the American people.

Not a bad plan. Not sure about the Human Capital policy. The Personal Reemployment Accounts sound like Bush’s Health Savings Account. Being educated is good if there are good jobs out there where you can use your education. Otherwise you are just educated and unemployed. Additionally, if you help out the highly educated foreigners that will just increase competition for Americans already looking for work. Nice for the employers, but not so nice for the job seekers. Don’t get me wrong. I am not against immigrants coming to America legally, but it seems to me they are already being hired and don’t really need much help. Presidential candidates should focus on growing the economy first. Everything else will follow.