Clarke Dryden Camper is Senior Vice President, Head of Government Affairs and Public Advocacy at NYSE Euronext, a...
Facing unexpectedly strong competition in his drive for the GOP presidential nomination, Governor Mitt Romney recently released the 2.0 version of his tax reform plan. Among the highlights:
Predictably, reaction to the plan has run the gamut – from praise by the supply-side Wall Street Journal editorial page (“now we’re getting somewhere”) to scorn by Brookings (“an abomination … back to voodoo economics”).
One aspect of the plan that’s sure to heat up as we head toward November: How is Romney going to pay for the plan? An analysis by the Tax Policy Center suggests the plan will increase the deficit by $500 billion in 2015 when all its provisions take effect and a total of at least $3.4 trillion over the next decade. The Romney campaign counters that the plan will be “fully paid for through a combination of economic growth, base broadening, and spending restraint.”