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Congressional Candidate Details Economic Plan

Press Release

Location: Iowa City, IA

Congressional Candidate Details Economic Plan

Loebsack presents a new direction for America

Iowa 2nd District Democratic Congressional candidate Dave Loebsack today issued his plan for a new direction for America. Loebsack's economic policy calls for reducing the national deficit, funding domestic programs, and setting America's economy on a stronger course.

"Iowans have suffered enough as a result of the priorities of the George Bush and the Republican Congress. It's time to reinvest in the American people," Loebsack said. "Budgets are about values. I will fight for a budget that represents Iowa values, not Washington, DC politics."

Loebsack detailed his support for repealing the Bush administration's tax cuts for the wealthy, eliminating corporate welfare, ending tax loopholes, and immediately beginning the withdrawal of American troops from Iraq.

Loebsack's plan consists of the following measures:

* Repealing the Bush tax cuts for the wealthy.
* Reallocating funds that currently support Cold War era military programs will provide $60 billion dollars for other truly urgent needs. The Common Sense Budget Act (HR-4989) calls for reinvesting these funds to reduce America's dependence on foreign oil by 50% in ten years, as well as providing resources for education and healthcare.
* Immediately beginning the withdrawal of troops from Iraq will save the U.S. hundreds of billions of dollars. The Congressional Budget Office estimates the occupation of Iraq costs the United States approximately 5.4 billion dollars per month.

Loebsack said he will push for ending tax loopholes that encourage the outsourcing of American jobs. He will also work to provide resources for the retraining of dislocated workers.

"The fact of the matter is that Democrats are the party of fiscal responsibility. The irresponsible fiscal policies of George Bush and the Republican congress are imposing a growing 'birth tax' on future generations of Americans. We owe it to our children to be fiscally responsible and to invest in their education and healthcare," said Loebsack.

Loebsack stated he will fight to eliminate corporate welfare. He will push for legislation that will support small businesses and help them to compete in the global economy.

After 6 years of record budget deficits, the current national debt stands at $8.5 trillion. Each citizen's share of that debt is more than $28,000 and growing.

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