On Thursday, Senate candidate Todd Wilcox released his economic plan: “Restoring Fiscal Sanity in Washington.”

“Government spending has created an entitlement culture in America that threatens our Constitutional Republic, is destroying the separation of powers and poses the greatest threat to our national security,” said Wilcox. “Career politicians from both parties are complicit in wasting our hard-earned dollars, and it’s time we demand fiscal reform that makes sense.”

One of the keys to Wilcox’s plan: a balanced budget amendment. As the release from his office notes, the United States is awash in debt, with a budget deficit of almost $19 trillion, national debt more than $65 trillion, and $100 trillion in unfunded liabilities.

Other keys: a repeal of Obamacare and substantive reform to Dodd-Frank to “get the markets moving.”

The tax code is also under scrutiny. Wilcox proposes to flatten the tax rates for individuals and S-Corps, LLCs and LLPs, close tax credit loopholes, end corporate subsidies, and shrink the IRS and move it to the Treasury Department.

Wilcox’s aggressive plan for energy independence, meanwhile, includes finishing the Keystone Pipeline and taking advantage of North American energy resources.

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