Kate Glynn’s Economic Plan Will Boost Growth and Take Care of Nation’s Most Vulnerable

(New York, NY) For Immediate Release

Today, presidential candidate Kate Glynn announced her economic plan which focuses on boosting economic growth while at the same time taking care of the nation’s most vulnerable. Glynn’s first priority will be to create more jobs.

“In 2007 our nation witnessed the worst economic downturn since the great depression,” Glynn said. “Millions of jobs were shed, people lost their homes and large corporations experienced severe losses. Since then, we have been losing our competitive edge in key sectors of the economy. It’s time to recover.”

Glynn argued for a thorough plan for job creation that would modernize education and health care, create incentives for corporations to reinvest their profits in the economy, and enhance incentives for private enterprises to increase their domestic investments.

Glynn announced she will also promote a program that would reinforce production of alternative energy. The Glynn Plan will include better funding for clean technologies training programs and targeted policies to improve energy efficiency. She highlighted that oil imports are widening America’s already high deficit, and she pledged to give additional incentives to decrease American dependence on foreign oil.

Moreover, Glynn said that after this financial crisis it has become a necessity to reform spending and taxes; specifically Glynn proposes terminating of overgenerous benefits and wasteful spending. She also announced that she will reform taxes with a sentiment of justice that will include a reduction of taxes for low incomes, a higher taxation for bonuses in the corporate sector, and a reduction of income taxes for seniors making less than $80,000. Furthermore, Glynn’s economic plan included a project that will protect any more Americans from losing their homes. As wages decrease and jobs are shed, Americans are faced with the pressure to continue to pay their monthly mortgage installments. Because hard working Americans must have a right to affordable housing, Glynn proposes the enhancement of the Obama Home Affordable Modification Program (HAMP), which created a fund for preventing foreclosures, by doubling the amount of the funds and also putting a moratorium for a certain period of time until middle class Americans get back on their feet; she also pledged to expand the program that provides direct and indirect support for those who wish to buy a house or refinance their mortgage.

Finally, Glynn stressed the importance of a general overhaul of the financial system, and she proposed a reform that will increase accountability and transparency for financial institutions.

“Taxpayers should never again be in the position to pay for the irresponsible actions of Wall Street,” Glynn said. “No financial institution should be too big to fail.” In order for that to be possible in the future, Glynn argued for a further strengthening of the newly enacted mechanism that requires Wall Street, instead of taxpayers, to be responsible for bailing out these institutions if they fail in the future.