Romney's Tax Plan

Mitt Romneys campaign swiftly responded to the Tax Policy Centers damning analysis of his tax plan by arguing that it was woefully incomplete. By only analyzing his reforms for individual tax rates, it said, the study didnt take into account the corporate tax reform that Romney is proposing or the economic boost that would accompany those changes. “These glaring gaps invalidate the reports conclusions, Lanhee Chen, Romneys policy director, said in a statement.

The study was developed by the centrist Tax Policy Center and authored by economists who have worked under both the Obama and Bush administrations.

It concluded that Romneys proposed tax cuts – which include reducing all personal income taxes rates by 20 percent, eliminating the estate tax and zeroing-out taxes on investment income for couples earning less than $200,000 per year – would slash $360 billion in federal revenues in 2015.