Former House Speaker Newt Gingrich is mounting a rival jobs forum Wednesday in Cleveland, Ohio to match the White House's Thursday event, Fox News reported.
Gingrich called his event "a real jobs summit."
Gingrich, who heads a political action group called "American Solutions," is an oft-mentioned candidate for the presidency in 2012. The trip to Ohio, where unemployment is slightly higher than the national average of 10.2 percent, is the first in a series and will followed by a trip to Jackson, Miss.
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In promoting the event, Gingrich's group is dismissing the event hosted by President Obama as "political theater."
"As the administration actively promotes job-killing health care, energy, and big labor legislation, millions of Americans struggling to find work won't be fooled by the political theater of a 'jobs summit,'" reads promotional material from his Web site.
According to the Gingrich job creation plan, he would first reduce payroll taxes by 50 percent for employers and employees to be paid for with unused TARP and "stimulus" money authorized late last year and early this year, according to Fox.
Gingrich also proposes allowing small businesses to expense 100 percent of new equipment purchases, abolishing the capital gains and estate taxes, reducing the corporate tax rate and balancing the budget by driving down spending and reforming government.
Read the full story at FoxNews.com
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