Romney Said to Ready More Detailed Plan to Overhaul Tax Code

Republican presidential candidate Mitt Romney is preparing to release a more detailed plan to overhaul the tax code soon, said a person who attended a policy roundtable event with Romney in Washington yesterday.

Romney expressed general interest in consumption taxes and flat taxes, said the person, who spoke on condition of anonymity because the meeting was private. Romney described consumption taxes as not politically feasible and said flat taxes may open him to criticism about the potential effect on his personal tax bill, the person said.