IPI Publication Press Release - New 10-Step Weight Loss Plan For the Federal Budget Offered

IPI Publication Press Release
IPI Policy Report - # 174

Related Publication Title:
Putting Taxpayers First: A Federal Budget Plan to Benefit the Next Generation of American Taxpayers
Released by Sonia Hoffman on 01/13/2004

Plan would save $75,000 per household and pave the way to new tax code and personal Social Security Accounts

This information is abstracted from the new IPI report, “Putting Taxpayers First—A Federal Budget Plan to Benefit the Next Generation of American Taxpayers” by Stephen Moore. The author is available for interview.

	IPI Publication Press Release IPI Policy Report - # 174 Related Publication Title: Putting Taxpayers First: A Federal Budget Plan to Benefit the Next Generation of American Taxpayers Released by Sonia Hoffman on 01/13/2004	Synopsis Full Text Executive Summary Press Release (01/13/2004) Press Release (02/17/2004) Media Advisory (01/13/2004) Media Advisory (02/26/2004) Full Text PDF
	New 10-Step Weight Loss Plan For the Federal Budget Offered Plan would save $75,000 per household and pave the way to new tax code and personal Social Security Accounts For Immediate Release: Tuesday, January 13, 2004 Contact: Sonia Hoffman, (703) 912-5742 or shoffman@ipi.org. (Washington, DC): The federal budget could easily slim down with a workout in the gym of spending cuts and continued economic growth, according to a newly released 10-step weight loss plan published by the Institute for Policy Innovation (IPI). “In just the past three years the federal budget has exploded in size by more than one half trillion dollars,” says report author Stephen Moore. “My study offers a 10-step budgetary weight loss plan that protects the financial future of tomorrow’s taxpayers.” In “Putting Taxpayers First—A Federal Budget Plan to Benefit the Next Generation of American Taxpayers,” Moore spells out specific steps to cut federal spending and put the federal budget on a glidepath toward an unprecedented era of prosperity for American taxpayers. Moore specifically proposes: Eliminating unnecessary and wasteful programs, Privatizing federal assets and using the proceeds for debt retirement, Devolving federal programs like education, transportation and welfare to the states, Replacing all federal anti-poverty programs with a more generous Earned Income Tax Credit (EITC) that requires work as a condition of federal assistance, Using market-based incentives to fix federal entitlement programs, Abolishing all corporate welfare, Enacting legislation to make any American with a net income of more than $1 million a year ineligible for any form of federal aid, Fixing the federal budget rules to end the inherent bias in favor of spending, rather than saving money and cutting taxes, and Attaching a tax cut dividend for all taxpayer to all spending reduction proposals as a way to build a taxpayer constituency for spending cuts. But wouldn’t such a plan encounter fierce resistance from the Republican establishment in Washington? In response, IPI president Tom Giovanetti asks, “Are Republicans now claiming that everything the Federal government does—every program, every department, every bureaucracy—is absolutely necessary and immune from consideration? If so, this is a radical and new position for Republicans to espouse.” This information is abstracted from the new IPI report, “Putting Taxpayers First—A Federal Budget Plan to Benefit the Next Generation of American Taxpayers” by Stephen Moore. The author is available for interview.