(CNN) - Rudy Giuliani has launched a new ad in which the Republican presidential candidate pledges that his first priority as president will be a proposal for the largest tax cut in U.S. history one which would dwarf successful cuts by both President Reagan and President George W. Bush.
In the 30-second spot, 'First Day,' the announcer tells viewers that "On his first day in office, Rudy Giuliani will send Congress the largest tax cut in American history."
Adds Giuliani: "I would lower taxes as President of the United States because it¹s not just an ideology or, or a theory for me. I made it work. I had results."
"Rudy's delivered more tax relief than the other Republicans combined. And now has a plan to cut taxes by trillions of dollars," says the narrator.
Giuliani concludes: "I'm the one who, who's lowered taxes, and lowered spending, and actually gotten it done where it was more difficult to do it than even in Washington, DC."
Giuliani's multi-trillion dollar proposal, unveiled in a speech earlier this week, would reduce the capital gains tax from 15 percent to 10 percent, preserve President Bush's 2001 and 2003 tax cuts, lower the corporate tax rate from 35 percent to 25 percent, permanently eliminate the estate tax, and give taxpayers the option of choosing a simplified tax form with three tax brackets with a maximum bracket of 30 percent. It would also index the alternative minimum tax to inflation - and eventually repeal it entirely.
The new ad will air in Florida, and nationwide.
- CNN's Rebecca Sinderbrand