Republican presidential candidate Newt Gingrich says he’ll unveil a new, 21st century “Contract with America” next week during a speech in Iowa. Gingrich was the architect of the first “Contract with America” which helped Republicans win the U.S. House in 1994. It contained things like a call for term limits on members of congress and for a balanced budget amendment.
During an appearance in Sioux City Tuesday, Gingrich hinted his new “contract” will include proposals to reduce the size of the federal budget. “I would apply the model of cutting out giving money to crooks, which we think is probably $150 billion a year. I would be prepared to reform the entitlements,” Gingrich said in Sioux City.
“If you return Medicaid back to the states, the estimate is you save $700 billion over a 10 year period.” Gingrich said. Gingrich touts so-called “supply-side” economics, arguing by cutting tax rates the government will collect more in total taxes because more people will be working.
“I’m for more revenue by putting Americans back to work so they pay taxes, I’m for more revenue for American energy productions, so I’m for more revenue. I’m just against tax increases,” Gingrich said. Gingrich made his comments after a forum at Morningside College. Last night in Sioux City, Gingrich and his wife held a public screening of one of the documentaries they produced.
By Josie Cooper, KSCJ, Sioux City