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Labrador’s economic plan sharply reduces tax rates for families and businesses by dropping the sales tax, individual and corporate tax rates to five-percent, and eliminates the sales tax on groceries. It also reforms government programs that prop up private businesses with public funds, modernizes existing urban renewal laws, reigns in wasteful spending, eliminates growth-stifling regulations and makes Idaho’s workforce more competitive. Additionally, it helps protect citizens from reckless federal over-spending by reducing the state’s reliance on the federal government.
“My plan to strengthen Idaho’s economy will unleash the raw potential of our citizens and industries, creating an environment to foster sustained, strong economic growth,” said Labrador. “I know that when government gets out of the way, people thrive.”
“Idahoans are rightly proud of our great state,” he continued. “But it’s time to be honest about where we are and where we must go. Even though we are the fastest growing state in the nation, we are underperforming in key areas. We rank near the bottom in average household incomes, unfortunately lead most states in low-wage jobs, and come in dead last when compared to neighboring states in economic competitiveness. While we have many tools and resources that could put our state at the top of the national charts in nearly every measure of economic success, we have lacked a vision and strong leadership.”
By contrast, Labrador’s opponents support economic policies that give preferential treatment to their friends and business partners.
One of them advocated for new ways to borrow money and raise taxes for public projects and opposed legislation that would have reigned in urban renewal agencies in Idaho while accepting over $67 million in urban renewal funds, federal earmarks and other taxpayer subsidies for his businesses. The other believes that taxpayer subsidies for businesses are an important function of government, that tax increases are necessary and inevitable and has voted to increase taxes on Idahoans by over $200 million.
“Unlike my opponents, I oppose economic policies that pick winners and losers, and I do not believe in increasing taxes and lining the pockets of private businesses and developers with public subsidies,” he added. “My plan levels the playing field for all Idahoans.”
More information about Labrador and his campaign to become Idaho’s next governor, along with his plan to Strengthen Idaho’s Economy, is available at www.RaulLabrador.com.