In tonight’s Talking Points Memo, Bill O’Reilly offered up a plan for Republicans.

He said that voters now expect the GOP to improve America, and if those expectations aren’t met in the next two years, Hillary Clinton has a very good chance of being elected president.

O’Reilly said Republicans must “wise up” and come together to pass new laws to help all Americans.

“The Factor” host called on Republicans to:

  • Lower the income tax to about 20 percent, giving companies more money to expand and create jobs.
  • Implement a six-month tax amnesty on corporate money being held overseas.
  • Raise the minimum wage because “10 bucks an hour will not break anyone.”
  • Cut the capital gains tax to 15 percent to encourage private investment.

O’Reilly said that if Republicans do those things, the economy will surge and employment will rise. If President Barack Obama vetoes those, he will go down in history as a villain, O’Reilly said.

“The Factor” host said it would be “a very bad idea” to attempt to repeal ObamaCare since Obama will just veto that.

“If a Republican gets elected president in 2016, then you repeal it.”

Still, O’Reilly said there are some good things about ObamaCare, like insurance companies can’t cancel Americans’ policies if they get sick.

O’Reilly also called on the GOP to introduce a fair immigration reform bill. He suggested securing the border with an American military presence and a high-tech fence and said entry policies must be enforced as well. O’Reilly said that the government can then fairly and humanely deal with the illegal immigrants already in the U.S.

But if Obama goes around Congress to legalize the undocumented, O’Reilly said Republicans should cut off all funding.

As for social issues like gay marriage and legalization of pot, O’Reilly remarked that the government should let the states decide.

“If the GOP takes my advice and then nominates an honest person to run for president in 2016, it will win. If Republicans continue to fight each other and do not compromise, the party will lose, and President Hillary Clinton will be in the Oval Office,” O’Reilly said.

Watch the memo above.