Here are some highlights we are hearing about Texas Governor Rick Perry's economic plan -- specifics to be released tomorrow:
TAXES: 20% flat tax, taxpayers can choose the flat tax option or stick with the current system; no taxes on capital gains, death or dividends; mortgage interest, charitable and state and local tax deductions are maintained (phase out, I believe, for those making $500,000 or more) ; 20% corporate rate; territorial tax system; repatriation at 5.25%.
REGULATIONS: Regulatory moratorium; full audit of all regs passed since 2008; sunsetting of all regs unless Congress renews; regulatory budgeting by the agencies (required); searchable database of all government regs; repeals ObamaCare, Dodd-Frank and Sarbanes-Oxley regs on small business.
SPENDING: Spending capped at 18% of GDP; Balanced Budget Amendment with no tax increases; ends earmarks; PAYGO for new federal programs; freeze of federal hiring for a dedicated timeframe; no more bail outs; government shut-down protection.
Also big emphasis on entitlement reforms.
More specifics, corrections and analysis tomorrow.
Karen Kerrigan, President & CEO
Showing posts with label regulatory moratorium. Show all posts
Showing posts with label regulatory moratorium. Show all posts
Monday, October 24, 2011
Friday, April 01, 2011
Regulatory "Cooling Off Period" is Needed: U.S. Rep. Ribble Introduces Legislation
Representative Reid Ribble (R-WI), a former small business owner, introduced legislation today that would place a 24-month moratorium on the majority of new regulations promulgated by federal agencies. The Restoring Economic Certainty Act of 2011, H.R. 1281, would provide entrepreneurs with the certainty they need to move forward and create jobs.
As Congressman Ribble said in a media release: “I’m calling on Congress to enact a regulatory cooling off period; let’s give America’s small businesses a chance to catch their breath and get back on their feet. As a 35 year small business owner, I’ve seen firsthand the harmful impact that government regulations and uncertainty can have on job creation,” Ribble said. “If small businesses can know that they will not be punished by unelected federal bureaucrats with additional burdensome regulations, our economy can begin to grow again and create jobs.”
Practical exceptions were made in the bill for emergency and disaster rules in such areas as aviation safety and Homeland Security. Additional exceptions were made for rules that have the force of reversing or wiping out a current regulation.
SBE Council strongly supports the bill. In a statement of support I sent to Congressman Ribble, which he placed in his media release about the legislation:
"Small business owners are already overburdened by government regulation. The avalanche of new rules in the pipeline are creating a high degree of uncertainty because of the added costs and complexity these new regulations will impose. The Restoring Economic Certainty Act will bring needed order to the federal regulatory system. Instituting a two-year relief period where government takes stock of the massive number of rule-makings currently underway, while quantifying their cost to our economy and the private sector, are necessary measures that will help restore stability. SBE Council thanks Congressman Ribble for his leadership in introducing common sense legislation that will help promote entrepreneurship, job creation and investment while retaining government action in critical areas where necessary."
The bill has 13 co-sponsors, and SBE Council is encouraging other House members to support this important legislative effort. To view the video of Congressman Ribble introducing his bill on the House floor, please click here.
SBE Council appreciates Congressman Ribble's leadership!
Karen Kerrigan, President & CEO
As Congressman Ribble said in a media release: “I’m calling on Congress to enact a regulatory cooling off period; let’s give America’s small businesses a chance to catch their breath and get back on their feet. As a 35 year small business owner, I’ve seen firsthand the harmful impact that government regulations and uncertainty can have on job creation,” Ribble said. “If small businesses can know that they will not be punished by unelected federal bureaucrats with additional burdensome regulations, our economy can begin to grow again and create jobs.”
Practical exceptions were made in the bill for emergency and disaster rules in such areas as aviation safety and Homeland Security. Additional exceptions were made for rules that have the force of reversing or wiping out a current regulation.
SBE Council strongly supports the bill. In a statement of support I sent to Congressman Ribble, which he placed in his media release about the legislation:
"Small business owners are already overburdened by government regulation. The avalanche of new rules in the pipeline are creating a high degree of uncertainty because of the added costs and complexity these new regulations will impose. The Restoring Economic Certainty Act will bring needed order to the federal regulatory system. Instituting a two-year relief period where government takes stock of the massive number of rule-makings currently underway, while quantifying their cost to our economy and the private sector, are necessary measures that will help restore stability. SBE Council thanks Congressman Ribble for his leadership in introducing common sense legislation that will help promote entrepreneurship, job creation and investment while retaining government action in critical areas where necessary."
The bill has 13 co-sponsors, and SBE Council is encouraging other House members to support this important legislative effort. To view the video of Congressman Ribble introducing his bill on the House floor, please click here.
SBE Council appreciates Congressman Ribble's leadership!
Karen Kerrigan, President & CEO
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