Presidential hopeful Nikki Haley – who aims to tear up President Biden’s marquee economic achievements and usher in a new era of government cuts – is rolling out her economic agenda on Friday.
Calling it the “Freedom Plan,” Haley, during a speech in New Hampshire, intends to call for lower middle-class taxes, government spending, the deficit and the federal government in general.
Before the policy’s release, the former South Carolina governor and US ambassador to the United Nations teased a plan to eliminate the federal gas tax, which could raise about $40 billion annually from a budget of more than $6 trillion, according to the Congressional Budget Office.
“It’s a fraction of what’s actually used to pave the roads and of that portion, most of it goes to bike paths and hiking trails and things like that. The Highway Trust Fund has been unresolved for years,” Haley previewed on Fox Business this week.
A group of 2024 Republican candidates have revealed their economic plans for the US. Senator Tim Scott did so earlier this month. ZUMAPRESS.com / MEGA
“You’re also helping families who are suffering from inflation.”
In general, Haley’s economic agenda is a grab bag full of conservative goods and wish list items.
His tax plan features calls for lower middle-class income tax rates; targeting loopholes like state and local income taxes — significantly pared back under the Trump administration — and providing tax breaks for small businesses.
The only woman in the 2024 GOP field, Nikki Haley has criticized Republicans for failing to curb government spending in the past.REUTERS
Having worked as an accountant, Haley, 51, has long sought to portray herself as a fiscally responsible manager.
He vowed to veto any budget that “does not bring our country back to pre-COVID-19 spending levels.” Government spending has exploded since the pandemic, fueled in part by runaway inflation.
To tame the rapid growth of federal spending, Haley wants to impose spending limits relative to the size of the economy and enact a so-called zero-based budget, where all spending must be justified.
If Congress fails to pass a budget, he wants lawmakers’ salaries to be withheld.
Additionally, he called for eligibility reform and the elimination of Biden’s $500 billion in green energy subsidies, most of which come from tax breaks.
“It is not difficult to reduce expenses. You have to want to do it. Congress has been lazy for a long time,” Haley said during a preview of her economic agenda.
“As president, I will stop spending. I will remove the earmarks. I will stop borrowing, and I will veto any spending bill that does not bring us back to pre-COVID levels,” he vowed.
President Biden has sought to reclaim the GOP’s “Bidenomics” line of attack, touting low unemployment and strong economic growth globally under his watch. Getty Images
In line with her government’s reduction objectives, Haley wants to fuel economic growth through a “comprehensive energy plan that makes American energy dominant.”
Many 2024 GOP candidates, such as biotech entrepreneur Vivek Ramaswamy, have called growth the primary method of reducing the deficit.
And to oppose government at large, Haley set term limits for bureaucrats and politicians.
Nikki Haley has vowed to be a true fiscal conservative in the White House.AP
He also wants to send various federal programs back to different states and pass the REINS Act, which aims to give Congress more power over administrative rulemaking and regulation — legislation that has long been a key objective of many conservatives.
Haley appears to be enjoying a slight uptick in mixed polling after the first 2024 GOP debate.
He is currently in fourth place with 4.9% support in the latest RealClearPolitics aggregate.
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Source: thtrangdai.edu.vn/en/
