Romney to release new tax plan this week
Larry Kudlow has the scoop:
Team Romney tells me there will be a bolder tax-cut plan released either at the debate tomorrow night (if Mitt gets it in) or more formally at his Detroit Economic Club speech on Friday. I’m embargoed from releasing details until tomorrow. But I can say that the new plan will be across-the-board with supply-side incentives from rate reduction, and that it will help small-business owners as well as everyone else.
The question is whether Romney’s new tax plan is aimed at the general election, which would likely mean moderating his tax cuts for the wealthy, or at outflanking Rick Santorum and Newt Gingrich, which could mean a more radical and regressive proposal. Or maybe neither. Note that Romney adviser Glenn Hubbard called for a progressive consumption tax in a recent op-ed column.