WASHINGTON (Reuters) - Republican presidential candidate Herman Cain will propose an addition to his signature tax reform plan on Friday to help battered inner cities of the United States rebuild their economies.
The former Godfather's Pizza CEO, who has rocketed to the top of Republican polls, will announce in a speech in Detroit a plan to create "opportunity zones" in cities to foster small businesses and create jobs.
The proposal answers criticism that his 9-9-9 plan to limit personal and corporate income taxes to 9 percent and create a 9 percent national sales tax would hurt poor Americans.
"We carved out a substantial amount from the aggregate 9-9-9 Plan tax base, enough to exempt those in poverty, and we will work with Congress to best apply these in a way to break the "poverty trap" and replace it with positive incentives that encourage people to work and take risks in this economy," Cain said in a campaign news release ahead of the speech.
Cain has taken some heat for his plan because experts say it would increase taxes on middle-income Americans, mostly by introducing a national sales tax for goods and services, which has been deeply opposed by conservatives.
Fox News said Cain's opportunity zone plan risks angering unions because it would enact policies they consider bad policy, such as the elimination of the U.S. minimum wage.
(Reporting by Steve Holland; editing by Anthony Boadle)
Wyo., ND Governors To EPA: Hey, We Need More Time On Clean Power Plan Regulations Because You Totally ‘Blindsided’ Us | Matt Vespa
Second data storage firm emerges with possible cloud backups of Hillary Clinton's emails - twitchy.com
Homeowner Stops Three Robbers By Pleading For Mercy. Just Kidding. He Shot Them. - Bearing Arms - Guns Saving Lives, Texas
Thomas Sowell - Charlatans and Sheep
Ted Cruz finds a question that the Sierra Club DARED not answer. | RedState
Why Conservatives Elected to Congress Turn Into Moderates | Human Events
- MSNBC’s Chris Hayes: The Problem is the Constitution
“Dilbert” creator Scott Adams: Trump is landing “linguistic kill shots” that will sweep him to the presidency