Press Release from Bill Haslam for Governor Campaign
The Nashvillian is the “Father of Supply-Side Economics” and Originator of “The Laffer Curve”
NASHVILLE – Dr. Arthur Laffer, the esteemed former economic advisor to the late Pres. Ronald Reagan, endorsed Republican gubernatorial candidate and Knoxville Mayor Bill Haslam in his bid for the Republican nomination for Tennessee governor.
Known as the “Father of Supply-Side Economics,” Dr. Laffer was a member of late Pres. Reagan’s Economic Policy Advisory Board from 1981-1989 and was the chief economist at the Office of Management and Budget from 1970-1972. Laffer developed the Laffer Curve, which illustrates that increasing tax rates beyond a point will actually decrease tax revenues.
Laffer endorsed Haslam because of his fiscal record as mayor and his commitment to free market and conservative fiscal management principles.
“Bill Haslam has done a superb job as Mayor of Knoxville,” Laffer said. “I expect nothing less of him as governor.”
Laffer’s endorsement is the latest indication that Haslam has the momentum less than a month out from early voting, which begins July 16. Two recent polls showed Haslam as the strongest Republican in the GOP field, and his campaign recently announced that Mayor Haslam had surpassed $8 million in total funds raised from a record number of contributions.
“The policies Bill Haslam espouses are very much in line with President Reagan’s economic policies,” Laffer added. “Pro-growth economics are just what we need to keep our state prosperous.”
“There isn’t a man on the planet that knows more or has more experience with how our economy works than Dr. Laffer, and I’m honored to have his endorsement,” Haslam said. “I truly believe that the private sector is the best place for our economy to thrive, and I’ve worked hard in Knoxville to create an environment that’s attractive to businesses small and large.”
“Tennessee faces huge challenges, but with the right leadership we can take advantage of the unique opportunities here – no income tax, right to work state, great quality of life – to attract the necessary business to grow our way out of this situation. With my Jobs4TN plan, I set out specific proposals to strengthen Tennessee’s economy just like I have Knoxville’s,” Haslam said.
Mayor Haslam is the two-term Republican Mayor of Knoxville, reelected in 2007 with 87 percent of the vote. A hardworking, conservative public servant, Haslam led Knoxville to become one of the top ten metropolitan areas for business and expansion, while reducing the city’s debt, tripling the rainy day fund, reducing the number of city employees to the lowest amount in 15 years and bringing property taxes to the lowest rate in 50 years. An executive leader with a proven record of success, he helped grow his family’s small business from 800 employees into one of Tennessee’s largest companies with 14,000 employees. For more information on Bill Haslam, please visit www.BillHaslam.com.