George Allen addressed essential initiatives that must be taken to significantly improve American competitiveness, unleash America’s plentiful energy resources, and rein in an over-reaching and over-spending federal government.
“Virginians are facing a tough economy made worse by dangerous levels of debt, burdensome taxes on job creators and counterproductive energy policies. Many are concerned that the American Dream is slipping away from them and their children,” said Allen. “We need to restore the American Dream by removing the government roadblocks and re-energizing America’s entrepreneurial spirit. It’s time to send a clear message to the rest of the world that ‘America is open for business.’”
“The strength, skills and optimism of America’s workforce is our competitive advantage. By shedding the burdensome taxes that have been stifling our recovery, we can restore the promise of freedom and opportunity for the next generation,” said Allen. “Congress must promote pro-growth policies that enhance American ingenuity and allow businesses to do what they do best – innovate, produce and create jobs. This reinvigoration starts with reducing taxes on job-creating businesses to attract the investment and expansion necessary for economic growth, jobs and sustained prosperity.”
George Allen’s Blueprint for America’s Comeback focuses on the following key areas essential to strengthening the foundation of America’s economy:
· Making America Competitive for Job Creators. Key to America’s growth is reducing the 35 percent U.S. tax on job-creating businesses – one of the highest in the world – to a competitive 20 percent. With this one policy change, America can begin attracting new investment and expansion in the U.S. and allow U.S. businesses, large and small, to raise wages and create over 5 million more jobs over the next 10 years.
· Unleashing America’s Plentiful Energy Resources and Creativity. Reversing current counterproductive energy policies not only will put America on a path toward energy freedom, it has the potential to create over a million new jobs, add over two trillion dollars of revenue without raising taxes, make our country more secure and help preserve our quality of life threatened by skyrocketing gas prices.
· Reining in the Over-Reaching, Over-Spending Federal Government. With the national debt at $14 trillion and growing at an alarming rate, America urgently needs to take control of our financial destiny. We can start by passing a Balanced Budget Constitutional Amendment, with Line-Item Veto authority, and a “paycheck penalty” that will deny pay to any Member of Congress who fails to complete an annual appropriations bill on time. The reckless spending by the Democrat-controlled Senate is a grossly irresponsible and dangerous way to run our federal government. The American people deserve better, and it is time for Congress to exercise the same fiscal responsibility that millions of families do every day.
“Virginians have been shaken by the struggling economy, falling home values and endless government borrowing, but we are resilient and we will seize the opportunity to get back in control of our own destiny,” said Allen. “With a pro-growth plan for action we can once again make America a country where young people graduating from college are limited only by their imagination, hard work and ingenuity.”The path America is on is dangerous and unsustainable; it will endanger our children’s future and their ability to achieve the American Dream. This Blueprint will change that trajectory and spark an American comeback with a competitive economy that is growing and creating jobs in a country that has so long stood for freedom and opportunity.
George Allen for U.S. Senate 2012