Jon Huntsman will deliver his first policy speech at Gilchrist Metal Fabricating in Hudson, New Hampshire this afternoon, introducing a four-part strategy to resolve the United States’ jobs crisis.
A source close to the campaign tells ABC News that Huntsman’s plan is titled: “Time to Compete: An American Jobs Plan.” The speech will address tax reform, regulatory reform, energy independence and free trade.
This morning, the campaign released new details on the former governor’s tax plan, which would call for: “a dramatic, revenue-neutral restructuring of the tax code that will remove all loopholes, deductions, and tax expenditures.” Huntsman plans to consolidate the tax code into three individual tax brackets at 8, 14, and 23%. He would eliminate capital gains, dividends taxes, as well as the alternative minimum tax. He would also reduce the corporate tax rate to 25%.
Huntsman will highlight the same core values he has tackled on the campaign trail, largely focusing on American competitiveness in the global marketplace.
“The president believes that we can tax and spend and regulate our way to prosperity,” Huntsman is expected to say in his prepared remarks. “We cannot. We must compete our way to prosperity. When I was born, manufacturing comprised 25 percent of our GDP. Today, it’s down to 10 percent. This does not reflect a decline in American ingenuity or work ethic; it reflects our government’s failure to adapt to the realities of the 21 st Century economy. We need American entrepreneurs not only thinking of products like the iPhone or Segway; we need American workers building those products. It’s time for Made in America to mean something again.”
Huntsman will continue: “It’s time for America to start working again; It’s time for America to start building things again; It’s time for America to compete again. I believe with a new administration we can do just that.”
The Associated Press reports that Huntsman will propose a simplified tax code as well as new trade deals outside of Colombia, Panama and South Korea, the three pacts the current administration supports.
Spokesperson Tim Miller tells ABC News: “A New Hampshire manufacturer provides the right backdrop for Governor Huntsman’s call for America to begin making things again. Gov. Huntsman will advocate for many of the same policies that took Utah to #1 in the nation in job creation.”
Huntsman is the first presidential candidate to announce a jobs plan. GOP rival Mitt Romney will unveil his own strategy in Nevada on September 6.