Rand Paul: 'We want rich people to move to Detroit'

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Paul Bedard,Washington Secrets,Labor,Detroit,2016 Elections,Rand Paul,Campaigns,Michigan,Detroit Bankruptcy

Sen. Rand Paul is taking an usual route to the 2016 presidential campaign -- through bankrupt Detroit.

The Kentucky Republican is traveling to Detroit on Friday to be offer a national plan to save the bankrupt city through cuts in taxes, regulations and union rules, and he wants to encourage overseas investors to move to Motor City.

“We want people from around the world to bring capital in,” he told Secrets. “We want rich people to move to Detroit.”

He said that tax cuts would help woo big and small overseas corporations and business people eager to tap the waiting labor force and lead in the city’s revival goal. His agenda would “encourage people to emigrate from around the world” to Detroit.

Then on Monday, he will introduce into the Senate his plan for “economic freedom zones,” which he believes will help embattled cities like Detroit.

Paul will present his fix-it plan to the Detroit Economic Club. Among the elements of his plan:

— Providing eligible areas with a reduction in individual and corporate income tax to a single, flat 5 percent rate.

— Reducing the payroll tax.

— Providing child education tax credits to parents.

— Suspending EPA non-attainment designations in Economic Freedom Zone areas.

— Suspend Davis-Bacon wage requirements on federal projects.

Paul Bedard, The Washington Examiner's "Washington Secrets" columnist, can be contacted at pbedard@washingtonexaminer.com.