Newt Gingrich on The Economy

Last Updated : Sep 19, 2011

Summary

Congressman Gingrich's view on the economy is that government should remain as small as possible and still fulfill it's requirements, and pay for that government without borrowing money. The smaller burden on the American people due to low taxes coupled with the long term security and stability that a country without debt provides creates the most stable and profitable environment. He opposed the Bush stimulus, the Obama stimulus, and is generally non-supportive of stimulus measures.

Although he has been highly critical of the TARP program, Congressman Gingrich has acknowledged that he would have probably voted in favor of the measure had he been in office, citing the need to do something. He has been steadfastly opposed to the GM bailout and the use of TARP funds for loans to auto companies.

Congressman Gingrich has called for the repeal of Sarbanes-Oxley and stated that the legislation created requirements that were too burdensome for companies.

Congressman Gingrich's has proposed and economic plan called the Jobs and Prosperity Plan. This plan includes tax cuts, monetary policy, regulatory reform, energy policy, and reform of entitlement programs.

  • Taxesrn
    • make the Bush tax cuts permanent
    • eliminate the capital gains tax
    • eliminate the death tax
    • reduce the corporate tax rate to 12.5% and allow 100% expensing of new equipment
    • move toward a 15% flat tax
  • Monetary Policyrn
    • Reform the Federal Reserve to promote Transparency
    • Return to "Reagan-Era" monetary policies
  • Regulatory Reformrn
    • Repeal Sarbanes-Oxley
    • Repeal the Community Reinvestment Act
    • Repeal the Dodd-Frank Law
    • Break up Fannie Mae and Freddie Mac
    • Replace the Environmental Protection Agency with an Environmental Solutions Agency
    • Modernize the Food and Drug Administration
  • Energyrn
    • Remove obstacles to energy development
  • Balance the Budget
  • Repeal Obamacare
  • Reform Entitlements

 

Opposition to the Bush Stimulus

In January of 2008, Congressman Gingrich wrote an article for Human Events that discussed the possible Bush stimulus and noted reasons why he believed it would fail.

 

Government Involvement in the Economy

On April 1, 2009 Congressman Gingrich appeared on Fox News and spoke about the over-involvement of the US government in the economy, the bailouts of industries, and the regulation of pay.

 

New Hampshire Debate

In June of 2011, Congressman Gingrich participated in the Republican primary debate in New Hampshire. He noted during that debate that he would repeal Sarbanes-Oxley and the Dodd-Frank bill.

 

Cutting Taxes and Lowering Spending

In July of 2010 Congressman Gingrich appeared on Fox News and spoke about his idea for creating jobs. He stated that increased energy production, lower taxes, and a reduced government would lead to more jobs.

 

Jobs and Prosperity Plan

Congressman Gingrich's economic plan is called the Jobs and Prosperity Plan. This plan includes tax cuts, monetary policy, regulatory reform, energy policy, and reform of entitlement programs.

  • Taxes
    • make the Bush tax cuts permanent
    • eliminate the capital gains tax
    • eliminate the death tax
    • reduce the corporate tax rate to 12.5% and allow 100% expensing of new equipment
    • move toward a 15% flat tax
  • Monetary Policy
    • Reform the Federal Reserve to promote Transparency
    • Return to "Reagan-Era" monetary policies
  • Regulatory Reform
    • Repeal Sarbanes-Oxley
    • Repeal the Community Reinvestment Act
    • Repeal the Dodd-Frank Law
    • Break up Fannie Mae and Freddie Mac
    • Replace the Environmental Protection Agency with an Environmental Solutions Agency
    • Modernize the Food and Drug Administration
  • Energy
    • Remove obstacles to energy development
  • Balance the Budget
  • Repeal Obamacare
  • Reform Entitlements

 

 

Iowa Debate

In August of 2011, Congressman Gingrich participated in the Republican debate in Iowa. He was asked about his economic principles and stated that he had experience with divided government.

 

The Palmetto Freedom Forum

In August of 2011, Congressman Gingrich participated in the Palmetto Freedom Forum, which was a discussion on the Constitution and numerous political issues. He spoke about his economic plan at length and outlined the major facets.

 

Reagan Debate

In September of 2011, Congressman Gingrich participated in the Republican Presidential debate at the Reagan library. When asked about the economy, he touts his experience in the government and the economy.

 

TEA Party Debate

In September of 2011 Congressman Gingrich participated in the TEA Party debate in Tampa Bay, Florida. He stated that the American people create jobs and not government.

 

2012 Presidential Campaign Website Statements

 

 

Sponsored and Cosponsored Legislation

This representative has not been identified as sponsoring or cosponsoring significant legislation related to this title.

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