Report: SC Families & Workers Would Benefit from DeMint Jobs Plan

Press Release

"American Option" would create 7,000 new SC jobs in 2009, 28,000 new SC jobs in 2013; Average SC family income would increase $1,100 in 2009, nearly $4,000 per family in 2013

Today, U.S. Senator Jim DeMint (R-South Carolina) made the following statement after the Heritage Foundation, a widely-respected nonprofit think tank, released research indicating strong job and income increases for individuals and businesses in South Carolina if Congress passes Senator DeMint's alternative to the Democrat stimulus, known as "The American Option." The DeMint jobs plan would reduce taxes for all taxpayers, small businesses and corporations, creating an estimated 18 million new jobs over 10 years.

The Heritage Foundation released an analysis of the impact DeMint's jobs plan would have on families and workers in all 50 states. According to the study, South Carolina could expect to gain an additional 6,956 jobs in 2009 and 28,262 jobs in 2013. An average South Carolina family of four could expect their personal income to increase by $1,153 in 2009 and by $3,864 in 2013.

"Instead of wasting money on inefficient government programs, we can give every South Carolinian and American a permanent tax cut they can choose how to spend or invest," said Senator Jim DeMint. "There's no doubt our economy is in trouble and we must act boldly to turn things around, but the best way to do that is leave money in the hands of families and businesses instead of allowing politicians in Washington to pick winners and losers. Permanent tax relief has always worked to stimulate the economy. It worked for President Kennedy and President Reagan, and it will work today. Our plan will give South Carolina the needed stimulus to create thousands of jobs and increase incomes for years to come."

South Carolina Governor Mark Sanford added, "We think Jim is on the right track with this plan. If the goal is to stimulate the economy now, we need to do it with direct and permanent tax cuts rather than massive spending increases that drip into the economy over ten years' time. If a stimulus plan is indeed inevitable, we're hopeful that the Senate will move in this direction and away from what's currently contemplated."

South Carolina Association of Taxpayers President Don Weaver said, "This is a great idea and will provide much needed jobs in our State. I wholeheartedly support what Senator DeMint is doing here and so will the vast majority of South Carolinians who pay taxes."

According to the report, the "The American Option", which extends "the 2001 and 2003 tax cuts and reduc[es] taxes for individuals, small businesses, and corporations would increase family disposable personal income and increase jobs in every state."

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