1.2: Job Creation, Tax Cuts and Regulatory Reforms

Return to robust job creation with a bold set of tax cuts and regulatory reforms that will free American entrepreneurs to invest and hire, as well as by reforming the Federal Reserve and creating a training requirement for extended federal unemployment benefits to encourage work and improve the quality of our workforce.

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Government does not create jobs. The American people create jobs. We understood these principles when we won the first Republican majority in the House in 40 years in 1994. Balanced budgets, streamlined government and the biggest capital gains tax cut in history led to unemployment falling to under 4% by 2000. Ronald Reagan understood this truth. His bold series of tax cuts and deregulatory measures upon taking office ended the economic stagnation of the 1970s for good by freeing American businesses to create nearly 20 million new jobs in less than a decade. In September 1983 alone the Reagan recovery led the American people to create 1,100,000 new jobs, more jobs than the first eight months of 2011 combined. My administration will build on this time-tested model: A profound restructuring and reduction of the tax and regulatory burden on Americans, with the very achievable goal of 4% unemployment and millions of new jobs within only a few years.

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