Governor Romney’s tax plan contains nearly $5 trillion in specific tax cuts over ten years. The Governor has also said his plan will not add to the deficit. To date he has only proposed one specific policy to make up the lost revenue—capping itemized deductions.
However, each version of the Romney plan falls well short of the promise he made to keep his tax plan revenue neutral. Based on our calculations, Governor Romney needs to find up to $4 trillion in additional revenue to make his numbers work.
Read Third Way’s analysis in The New Romney Tax Plan: Does it add up?