Sanchez Says Borrow, Tax, and Spend More Won't Work

John Sanchez

Lt. Governor John Sanchez a candidate for the U.S. Senate issued the following press release on the latest jobs proposal from the White House. SANTA FE – “I am very disappointed in President Obama’s lack of leadership on the economic front. A tax increase of $1.5 trillion will further cripple the American economy and stifle growth and investment. I do not believe Stimulus 2.0 is the answer to America’s financial crisis. We need a commander-in-chief in this economic crisis, not a campaigner-in-chief. The President's first stimulus was one of the largest economic failures in American history, recycling the same old worn out tax and spend ideas is the absolute worst thing he could do to the economy. It’s time to repeal Obamacare, produce more domestic energy which will create jobs in New Mexico, and cut the corporate tax rate. Reforming the tax code, so it does not stifle small businesses should be the President and Congresses primary focus. Using tax increases, and specifically “carried interest,” as a mechanism to fund additional federal programs will not create more jobs or address the budget deficit. Carried interest is utilized to finance growth in the multi-family and commercial real estate market as well as for private equity. The President should look to capping and cutting federal spending while targeting waste, fraud and abuse to find savings in the federal budget. It is time for honest leadership in ways that get the government out of the way of entrepreneurs, small business owners and investors so they can create jobs in a predictable and stable economy free from unnecessary and outdated federal regulations.”

Sanchez Says Borrow, Tax, and Spend More Won't Work