Romney Aims to Unwind Obama's Agenda: The Ticker

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By George Anders

Mitt Romney's 160-page economic plan, released late this afternoon, touches on everything from lower corporate tax rates to a diminished role for the Clean Air Act. One big theme holds it all together: undoing as many elements as possible of Barack Obama's presidency.

The former Massachusetts governor and Republican presidential candidates opens with the assertion: "Things are happening in America today that break my heart." He finishes with the declaration that the federal government is "in dire need" of both cutting and reshaping.

In the intervening pages, Romney vows to repeal Obama's health care legislation, to repeal the Dodd-Frank financial-industry statute, and to "reverse executive orders issued by President Obama that tilt the playing field toward organized labor."

Romney also says he wants to cap federal spending at 20 percent of gross domestic product (it currently is nearly 24 percent), to pursue a balanced budget amendment, to reduce the corporate income tax rate to 25 percent from the current 35 percent, and to eliminate taxes on interest, dividends and capital gains for persons with adjusted gross income of $200,000 or less.

Most of the proposals are broadly in line with long-running themes of Romney's campaign. Still, the mix of proposals offers clues about where he might want to fight hardest. He sets forth seven proposals related to faster development of American energy resources, seven that take a tougher stance toward unions and three that amount to talking sternly to China.

Some ideas, such as creating "the Reagan Economic Zone," are quite loosely defined. But there's no vagueness in his views about the current administration. The document says a fair amount about what Romney wants; it's voluminous what he doesn't like.

-0- Sep/06/2011 21:47 GMT