A ROADMAP FOR AMERICA’S FUTURE 2.0
27 January 2010
A Roadmap for America’s Future 2.0 is a comprehensive alternative to the heavily government-centered ideology now prevailing in Washington. It has been updated to reflect the dramatic decline in our nation’s economic and fiscal condition since its introduction in 2008 – while still achieving the following goals: 1) providing health and retirement security for all Americans; 2) lifting the debt burden from future generations; and 3) promoting American job creation and competitiveness.
It achieves these goals through the following reforms:
• Ensures universal access to affordable health coverage by establishing a new $5,700 refundable tax credit for families to purchase insurance. It provides transparency on price and quality to help bring costs under control while enhancing the quality of care.
• Secures Medicare for current beneficiaries, and gradually phases in reforms for those under 55 years of age to make Medicare permanently solvent.
• Reforms Medicaid to give beneficiaries greater choice in their care, provide greater flexibility to States, and get spending under control to preserve this critical safety net program for future generations.
• Saves Social Security by making it permanently solvent, slowly phasing in reforms for those under 55 years of age.
• Strengthens Social Security for younger workers to get a better return by providing them with the option to contribute a portion of their taxes to personal retirement accounts.
• Provides an alternative to the needlessly complex, cumbersome, and unfair tax code by giving taxpayers the option of filing their income taxes under a highly simplified tax code that has just two rates and no special tax deductions, credits, or exclusions (except the health care tax credit).
• Promotes work, saving, and investment by: 1) eliminating taxes on interest, capital gains, dividends, the alternative minimum tax [AMT], and the death tax; and 2) replacing the corporate income tax with a competitive, border-adjustable business consumption tax.
• Helps prepare the Nation’s workforce for success in the global economy by transforming 49 job training programs, scattered across eight agencies, into a flexible, dynamic program focused on results, and accompanied by clear measures of transparency and accountability.
Roadmap is a complete legislative proposal backed up by Congressional Budget Office estimates of its fiscal and economic consequences. These estimates show this plan puts the Federal government on a sustainable fiscal path and results in a stronger economy for future generations.
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