Rudy Guiliani, after losing in both N.H and Iowa, today released his tax plan. His plan basically makes President Bush’s tax cuts of 2001 and 2003 permanent. He wants to cut coporate taxes from 35% to 25% and cut capital gains from 15% to 10% among other cuts and ideas.
Republican U.S. presidential hopeful Rudy Giuliani has proposed what he called a multitrillion-dollar tax cut that would trim the corporate tax rate from 35 percent to 25 percent and cut the capital gains tax from 15 percent to 10 percent.
The proposal, unveiled by the campaign on Wednesday, would preserve the 2001 and 2003 tax cuts enacted by President George W. Bush, eliminate the estate tax and give taxpayers the option of choosing a simplified tax form with three tax brackets with a maximum bracket of 30 percent.
“Giuliani’s tax plan makes all the Bush tax cuts permanent, including full repeal of the death tax,” the former New York City mayor’s campaign said in an appeal to fiscal conservatives.
The plan was praised by prominent tax-cutting advocates such as Grover Norquist, president of the Americans for Tax Reform.
Giuliani’s campaign has focused on promoting him as strong on national security, while Republican opponents vying to be their party’s nominee for November’s presidential election have questioned his conservative credentials on issues like immigration.
The tax plan seeks to associate Giuliani with tax-cutters Bush and former President Ronald Reagan, who contended that economic growth resulting from lower taxes would increase government revenues.
I think this is a step in the right direction for Rudy. His campaign needs to get going a little bit. The upcoming primaries are huge for him.