Romney Campaign Press Release - Another Obama Term Means More Policies That Will Harm Job Creators

"President Obama has promised to get our economy moving again – but he's proposed a slew of disastrous economic policies for his second term that will only harm job creators. On Day One, Mitt Romney will help put Americans back to work by reforming the tax code, cutting tax rates across the board, and eliminating the regulatory burdens facing American small businesses." –Andrea Saul, Romney Campaign Spokesperson

DAY ONE OF A SECOND OBAMA TERM: HIGHER TAXES, STIFLING REGULATIONS, AND FAILED ENERGY POLICIES

In 2013, President Obama Will Pursue One Of The Biggest Tax Increases In History On Individuals And Small Businesses:

"[President Obama] Is Setting Up The U.S. Economy For One Of The Biggest Tax Increases In History In 2013." "President Obama unveiled part two of his American Jobs Act on Monday, and it turns out to be another permanent increase in taxes to pay for more spending and another temporary tax cut. No surprise there. What might surprise Americans, however, is how the President is setting up the U.S. economy for one of the biggest tax increases in history in 2013." (Editorial, "The 2013 Tax Cliff," The Wall Street Journal, 9/14/11)

President Obama's Tax Plans Would Come "At The Expense Of Smaller Businesses That File As Individuals" By Hiking Their Marginal Rates To "41% Or More." "By contrast, President Obama's proposal yesterday (see below) to cut the corporate rate to 28% from 35% wouldn't apply to this 'pass-through' business income. It would thus favor big corporations at the expense of smaller businesses that file as individuals and would see their marginal rate rise to 41% or more under Mr. Obama's plan to raise individual tax rates." (Editorial, "Romney's Tax Reboot," The Wall Street Journal, 2/23/12)

During A Second Term, President Obama Will Push Through Job-Destroying Regulations That He Has Delayed Until After The 2012 Election:

"Pending Rules In The White House Pipeline" Have Been Delayed Until After The 2012 Election. "Pending rules in the White House pipeline would position a re-elected President Barack Obama to outpace his predecessor with second-term rulemaking, according to a review of regulatory filings. Obama has delayed until after the election decisions on regulating ozone levels and rearview cameras for cars. Rules still need to be written to carry out much of Obama's signature first-term domestic policy initiatives, the health-care overhaul and the Dodd-Frank law regulating the financial industry." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

The Dodd-Frank Law Alone Has Hundreds Of Rules Yet To Be Written. "The ozone rule would cost $19 billion to $90 billion in 2020, according to the White House. The Obama administration puts the cost of rearview cameras at $2.7 billion. A Bloomberg Government study in July found that four provisions of the Dodd- Frank law may cost banks and other financial services companies $22 billion, with hundreds of rules yet to be written." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

In 2013, President Obama Will Double Down On His Failed Energy Policies That Will Lead To Higher Prices And Fewer Jobs:

President Obama "Has Said That The Most Important Policy He Could Address In His Second Term Is Climate Change." "Obama has an ambitious second-term agenda, which, at least in broad ways, his campaign is beginning to highlight. The President has said that the most important policy he could address in his second term is climate change..." (Ryan Lizza, "The Second Term," The New Yorker, 6/11/12)

• The Wall Street Journal, On Cap-And-Trade: "Results In Fewer Jobs Created Or Higher Unemployment ... Likely To Be The Biggest Tax In American History." "The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result. ... Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history." (Editorial, "The Cap And Tax Fiction," The Wall Street Journal, 4/27/09)

President Obama Will Double Down On His Failed Green Energy Investments. OBAMA: "We're going to have to make more progress on clean energy. We've doubled clean energy production over the last three and a half years. We've got to do more to make sure that we are the most energy-efficient country in the world. And we can do it." (President Barack Obama, Remarks, San Francisco, CA, 6/6/12)

• "The Millions Of 'Green Jobs' Obama Promised Have Been Slow To Sprout..." "But the millions of 'green jobs' Obama promised have been slow to sprout, disappointing many who had hoped that the $90 billion earmarked for clean-energy efforts in the recession-fighting federal stimulus package would ease unemployment - still above 8 percent in March." (Andy Sullivan, "Analysis: Obama's 'Green Jobs' Have Been Slow To Sprout," Reuters, 4/13/12)

President Obama Continues To "Stand In The Way Of The Keystone XL Pipeline," Which Will Help Create Thousands Of American Jobs. "President Obama continues to stand in the way of the Keystone XL pipeline, though increasingly he's standing alone. ... Big Labor and Western Governors such as Montana Democrat Brian Schweitzer support the Keystone for the thousands of jobs it will create, which is adding to the pressure on Capitol Hill Democrats." (Editorial, "Democrats For Keystone," The Wall Street Journal, 4/20/12)

DAY ONE OF A ROMNEY PRESIDENCY: IMMEDIATE STEPS TO HELP SPUR JOB CREATION AND ECONOMIC GROWTH

As President, Mitt Romney Will Pursue Fundamental Tax Reform To Help Job Creators And All Americans:

Mitt Romney Will Pursue Fundamental Tax Reform That Cuts Taxes Across The Board By 20%. "I will lower taxes to lighten the burden on middle-income Americans and to reignite the economy. A key measure will be an across-the-board, 20% reduction in marginal individual income tax rates. By reducing the tax on the next dollar of income earned by all taxpayers, we will encourage hard work and productivity by allowing Americans to keep more of what they earn." (Mitt Romney, Op-Ed, "Restoring The American Promise," CNBC, 3/5/12)

Mitt Romney, On His Tax Reform Plan: "Instead Of Picking Winners And Losers With Taxpayer Dollars, I'll Make Sure That Every Entrepreneur Gets A Fair Shot And That Every Business Plays By The Same Rules." (Mitt Romney, Remarks, Newspaper Association Of America, Washington, D.C., 4/4/12)

Mitt Romney Will Spur Job Creation By Immediately Approving The Keystone Pipeline And Capping Job-Killing Regulations:

As President, Mitt Romney Will Support A "Regulatory Cap" On Federal Agencies That "Requires Them To Calculate The Cost Of New Rules And Offset That Cost With Reductions To Existing Rules." "Mitt Romney, the former Massachusetts governor, has proposed a 'regulatory cap' on federal agencies that requires them to calculate the cost of new rules and offset that cost with reductions to existing rules." (Jason Noble, "Candidates Emphasize Cutting Taxes, Rules," Des Moines Register, 11/19/11)

Mitt Romney Will Approve The Keystone XL Pipeline On Day One Of His Presidency. "I also will partner closely with our neighbors. Canada and Mexico have extraordinary resources of their own that can provide secure, reliable supplies for our economy. This starts with my approval of the Keystone XL pipeline on Day One." (Mitt Romney, "U.S. Can Be Energy Superpower," The Columbus Dispatch, 3/5/12