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Romney Campaign Press Release - The Romney Agenda: Gov. Romney On The Michigan Economy And Lowering Taxes

October 13, 2007


Romney Press Shop (857) 288-6390


"There's a lot we can do to strengthen Michigan. And in some respects, what Michigan is seeing the entire nation is going to see unless we take action now to get Michigan stronger." – Governor Romney (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

Governor Romney On Strengthening The Michigan Economy And Strengthening America:

Governor Romney On The Need To Work Together And Strengthen Michigan's Economy: "It's inexcusable that Michigan is undergoing a one-state recession, that the rest of the country is growing and seeing low levels of unemployment, but Michigan is seeing ongoing high levels of unemployment, almost twice the national rate. Industry is shrinking here, jobs are going away. This is just unacceptable, and therefore, everyone's going to have to come together to solve the problem. And that means from the president's standpoint, the president's going to have to stand up and say: You know what? – to the auto industry – the door's always open. We're going to work with you and make sure that you have a listening hear and someone who will participate with labor and with management." (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

Governor Romney On Bringing Innovation To Michigan's Economy: "Number two, we're going to make sure that we invest in technology and research – a lot of that relating to energy, fuels; automotive research like material science to help boost Michigan once again." (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

Governor Romney On Strengthening Michigan Schools: "We're going to have to fix the schools; as Newt Gingrich pointed out, 22 percent of Detroit kids don't – or excuse me – 22 percent graduate from high school. That's unacceptable." (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

Governor Romney On Providing Relief To Michigan Taxpayers: "We're also going to have to do a better job keeping our taxes down. Jennifer Granholm has made a big mistake by raising taxes. I was, frankly, a little nervous to – by being here tonight. I figured that she was going to put a tax on the debate before we got finished." (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

Governor Romney On Ensuring A Level Playing Field For Michigan Goods: "And we're going to have to go work, as well, to make sure that there's a level playing field around the world as we compete, to make sure that American goods are pushing into other markets; that goods coming overseas aren't getting an advantage as they do now with embedded taxes." (CNBC, Republican Presidential Candidate Debate, Dearborn, MI, 10/9/07)

TAX BLUEPRINT #1: Making The Bush Tax Cuts Permanent:

Governor Romney Will Make The Bush Tax Cuts Permanent. Governor Romney believes making the Bush Tax Cuts permanent is the first step to ensuring that Michiganders are able to keep more of their hard-earned money.

By Making The Bush Tax Relief Permanent, Governor Romney Will Preserve Tax Relief For Millions Of Michigan Taxpayers:

- 3,642,000 Total Michigan Taxpayers Benefited From The Tax Relief In 2006.

- 3,286,000 Michigan Taxpayers Benefited From The Rate Reduction In The Lowest Tax Bracket In 2006.

- 1,234,000 Michigan Couples Saw A Reduction In The Marriage Penalty In 2006.

- 960,000 Michigan Taxpayers Benefited From The Increased Child Credit In 2006.

TAX BLUEPRINT #2: Rolling Back Tax Rates For All Michiganders:

Governor Romney Will Roll Back Tax Rates Across The Board For All Michigan Taxpayers. As President, Governor Romney will cut marginal tax rates across the board, allowing all Michiganders to save more money. This approach is fair, simple and extends the pro-growth benefits of tax rate cuts to all Americans.

TAX BLUEPRINT #3: Eliminating Taxes On Middle Class Savings:

Governor Romney Will Make Middle Class Savings Tax Free. Governor Romney's plan will allow middle class Michiganders to save tax free by changing the tax rate on interest, capital gains and dividends to absolutely 0%. By helping more people in Michigan save and invest, we can meet the challenges of an aging population and ensure the financial security of America.

- Governor Romney's Plan Will Allow Over 95% Of American Families To Save And Invest Tax-Free. Any taxpayer with Adjusted Gross Income of under $200,000 would pay a tax rate of absolutely 0% on all of the income they earn from their savings, capital gains and dividends.

Governor Romney's Plan Will Help Millions Of Michigan Taxpayers Save And Invest Tax-Free. Based on 2005 tax returns:

- 2,054,471 Michigan Taxpayers Who Earned Interest Could Have Benefited From This Tax Break.

- 1,054,726 Michigan Taxpayers Who Earned Dividends Could Have Benefited From This Tax Break.

- 820,901 Michigan Taxpayers Who Earned Capital Gains Could Have Benefited From This Tax Break.

TAX BLUEPRINT #4: Eliminating The Death Tax Once And For All:

Governor Romney Will Kill The Death Tax. It is unfair to tax Michiganders three times: once when they earn their money; second when they invest it and receive income from those investments; and third when they die.

TAX BLUEPRINT #5: Cutting The Corporate Tax Rate:

Governor Romney Believes Our Corporate Tax Rate Must Be Competitive With The Rest Of The World. The United States has the second highest corporate tax rate in the Organization for Economic Co-operation and Development. We simply cannot afford for future economic growth to have a tax rate that is out of alignment with the other major economies of the world.

TAX BLUEPRINT #6: Opposing Social Security Tax Increases:

Governor Romney Opposes Any Increase In Social Security Taxes. We can strengthen Social Security without resorting to higher Social Security taxes that will impact all Michiganders. Governor Romney will oppose any proposed increase in Social Security taxes.

TAX BLUEPRINT #7: Making Medical Expenses Tax Deductible:

Governor Romney Will Make Qualified Medical Expenses Tax Deductible. Governor Romney supports the full deductibility of qualified medical expenses, which will allow people in Michigan to deduct the cost of their health insurance and out-of-pocket medical expenses, where accompanied by at least catastrophic insurance.

Read Governor Romney's Full Strategy For A Stronger America:

To read more about Governor Romney's agenda to change Washington, please click on the Strategy for a Stronger America , a compilation of his policy proposals for conservative change and to meet the new generation of challenges confronting our nation. Since January 2007, Governor Romney has outlined more than 50 different policy proposals. From defeating violent Jihadists to protecting traditional values, Governor Romney believes we can build a stronger America by taking Washington apart and putting it back together based on conservative principles that strengthen our national defense, our economy and our families.

Mitt Romney, Romney Campaign Press Release - The Romney Agenda: Gov. Romney On The Michigan Economy And Lowering Taxes Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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