Pawlenty to reveal budget plan next week

GOP presidential candidate Tim Pawlenty will travel to Chicago next
Tuesday to deliver a speech on the economy and lay out his budget plan.

According to a Pawlenty aide, the former Minnesota governor’s speech “will offer a specific plan for boosting the economy
and creating jobs” and “a plan to balance the federal budget, overhaul the federal tax code, reduce regulation and
increase American innovation and investment.”

{mosads}Pawlenty’s budget proposal has been widely awaited by political observers since April, when he said he would release his own plan that differs from Rep. Paul Ryan’s (R-Wis.) plan to balance the budget and reform entitlements. 

Democrats have sought to make Ryan’s plan a litmus test for GOP candidates and have dinged politicians, such as Pawlenty, who have said they want to offer alternatives.

The ex-governor has already previewed some of his proposal, saying that he wants to introduce “payment reforms” to Medicare in order to make it solvent. He also said he would directly address Social Security reforms and has expressed support for raising the retirement age.

He also made waves on his announcement day in Iowa, when he said he would gradually
phase out federal ethanol subsidies in an effort to reduce
federal spending.

It’s not clear exactly which elements of his plan Pawlenty will make public Tuesday; he has indicated he might release his program in steps.

He will deliver his speech at the University of Chicago’s Harris School of Public Policy, located in Hyde Park. President Obama’s Chicago house is a few blocks away from the U of C’s main campus.

Pawlenty’s visit to Chicago will also come just over a week after former Massachusetts Gov. Mitt Romney’s (R) stop in the Windy City, which doubles as Obama’s hometown and a hub for major campaign donors.

While in Chicago, Romney talked about jobs and the economy with business owners.

Daniel Strauss contributed reporting.