• Sunset Legislation — require all federal laws, regulations and programs have a sunset so they can be analyzed as to their “relevance and efficiency and saving taxpayer dollars.”
“And if it doesn’t work and it’s ruining our economy and families then ditch it,” Young said. “Call a law a loss sometimes.”
• Full Federal Audit — require every government agency submit to an audit so taxpayers know what and where their money is being spent. This would increase “transparency and trust, while curbing costs from waste, fraud and abuse.”
• Generational Accounting — will require the Congressional Budget Office to look at the long-term — not a 10 year — impact of legislation on future generations before it’s brought to a vote before Congress.
• Flatter, Fairer, Simpler — rework the 73,000 page tax code and make it pro-growth that is permanent so American families can keep more of their money and businesses can make long-term plans to grow and create jobs.
“I think about anything is better then what we have right now,” Young said of the current federal tax system.
Young said a side benefit of making the tax code permanent is that it would reduce the power of the Internal Revenue Service.
• Balanced Budget Amendment — require Washington to do what 49 states do ... submit a balanced budget every year.
• Full Repeal of Obamacare — “replace it with free market principles that drive down costs and preserve the high quality of American medicine.” If Congress passes a law requiring American’s to abide by, then Congress too should be required to abide by it, Young said.
Young said his seven “Better Budget Principles” are solutions he can win with come the mid-term election in November of 2014.
“I understand the problems that Iowans face,” Young said. “I know the issues and I’ve got the courage to lead on these issues that are tough. And I have solutions.”