Giuliani Campaign Press Release - Rudy Giuliani Outlines Plan to Cut Taxes and Reform the Tax Code

Mayor Rudy Giuliani outlined his plan to cut taxes and reform the tax code in a speech today in Melbourne, Florida. The Mayor's tax cut plan – the most aggressive of anyone running for President – aims to spark the American economy, lower the tax burden on Americans and help businesses create jobs, while eliminating wasteful government spending in Washington.

Mayor Giuliani plans to simplify the tax code by introducing the Fair and Simple Tax (FAST) form. The FAST form gives American taxpayers the option of filling out their taxes on a single page, while cutting the current six brackets in half and preserving the major deductions that Americans depend upon – mortgage interest, charity, state & local taxes, the child tax credit, the personal exemption and the new health care exclusion.

Rudy's plan also cuts the corporate tax rate from 35% to 25% to keep America competitive in the global economy. In addition, the Mayor proposes giving the death tax the death penalty, cutting the capital gains tax from 15% to 10% and indexing the Alternative Minimum Tax for inflation and eventually eliminating it.

In addition, the Mayor's proposal eliminates the double-taxation of personal saving accounts, reinstates the Research and Development Tax Credit and makes the current Bush tax cuts permanent.

"At a time when many Americans are worried about the economy, now is the right time to cut taxes so we can put America back on a pro-growth path towards future prosperity," said Mayor Giuliani. "Fiscal Conservative Republicans remember what Ronald Reagan taught us: when you cut taxes you liberate the potential of the American people…and you unlock the genius of our free market economy."

As Chief Executive of America's largest city, Mayor Giuliani proposed 64 tax cuts and succeeded 23 times – working with a Democratic City Council and a Democratic State Assembly. Rudy reduced New Yorkers' tax burden by 19% – down to its lowest level in three decades – by the end of his eight years in office. Mayor Giuliani delivered more tax relief to his constituents than all of the other Republican candidates combined.