“Economic Freedom Zones would be the largest anti-poverty initiative since the War on Poverty, and allow impoverished areas to remove the shackles of big government by reducing taxes, regulations, and burdensome work requirements."
LOUISVILLE, KY – In case you missed it, last night U.S. Senator Rand Paul announced the Senate’s plan to vote on his Economic Freedom Zones bill this week, and as early as this afternoon. If passed, it will be the biggest anti-poverty initiative since the War on Poverty.
Sen. Paul’s Economic Freedom Zones Act is a bold, empowering plan aimed at helping our country’s impoverished and struggling communities. Economic Freedom Zones are areas of reduced taxes and regulations, and increased incentives for businesses. They are much more than a government stimulus or handout. They empower communities by leveraging the human capital, natural resources, and business investment opportunities that already exist. These zones will apply to any zip code with unemployment greater than one and a half times the national average.
“Economic Freedom Zones would be the largest anti-poverty initiative since the War on Poverty, and allow impoverished areas to remove the shackles of big government by reducing taxes, regulations, and burdensome work requirements. By taking drastic, meaningful action, my legislation will create new jobs, get these communities back to work, and give Americans in these areas the chance to succeed. I am proud to have secured a vote on my proposal this week,"Sen. Paul said.
Sen. Paul has spoken extensively with Kentuckians across the Commonwealth about his Economic Freedom Zones plan, and how it could help Eastern Kentucky communities devastated by Obama’s War on Coal, as well as areas of Louisville’s West End struggling with crippling unemployment.
Paul Meets With Harlan Community, Discusses Economic Freedom Zone Plan “Paul also discussed his plan to help the struggling communities that have been devastated by the War on Coal through his Economic Freedom Zones proposal. Designating Harlan County as an Economic Freedom Zone would slash individual and corporate taxes to 5 percent for a 10-year period to stimulate economic growth for the community and give incentives for businesses to locate there and grow. Over 10 years, Paul’s Economic Freedom Zone plan is estimated to leave $139.4 million dollars in Harlan.” (Harlan Daily Enterprise, 3/30/16)
Economic Freedom Zones Big Topic of Discussion at Paul’s Pineville Stop “Paul also spoke about his Economic Freedom Zone plan which would give corporate and local income tax cuts at 5 percent each. He believes this would keep approximately $1 billion in communities. He has spoken with other local and state government members about these same cuts on their levels. He also suggested that this would help keep money in successful, local businesses.” (Middlesboro Daily News, 2/18/16)
Rand Paul Holds Economic Freedom Zones Roundtable in West Louisville “Senator Rand Paul, R-Ky., met with nearly a dozen community and business leaders in Louisville on Monday to discuss his push for Economic Freedom Zones in the city’s West End.” (WFPL, 4/28/14)
Paul Holds Coal Forum in Hazard, Talks Economic Freedom Zones “He has an idea how Kentucky could do something that would rejuvenate the coal industry with his “Economic Freedom Zones” plan. Under Sen. Paul’s plan, he says he would promote job creation by reducing taxes, educational enhancements to improve local opportunities and workforce, reduce the regulatory burden on cities and encourage community assistance and rebuilding.” (Hazard Herald, 12/2/15)
In Louisville Paul Discusses Poverty, Criminal Justice Reform, & Economic Freedom Zones “Paul stuck to amending the criminal justice system and other topics in his wheelhouse to address poverty in the U.S., such as alternatives to public education and economic-freedom zones.” (CN2, 10/2/15)
Paul’s Economic Freedom Zone Proposal Praised By Louisville Community Leader “Additionally, Sen. Paul’s proposal for Economic Freedom Zones would directly affect the population of young African-American males we are so desperately trying to help. Economic Freedom Zones promote job creation giving businesses incentives to set up shop in communities with high concentrations of poverty.” (Courier Journal, 8/11/15)
With 21% Unemployment, Magoffin County Could Benefit Greatly From Economic Freedom Zone Plan "To make a community grow, you have to leave more money in the community," Senator Paul stated, explaining that he believes Magoffin could benefit from a bill he's introduced called "Economic Freedom Zones Act," which would lower taxes for five years for a qualifying county (i.e. high unemployment rate). He said this would keep more money in Magoffin so businesses could be more successful, though the bill has not been voted on, yet.” (Saylersville Independent, 3/28/15)