Chandler, Arizona (CNN) - Mitt Romney charged Wednesday that President Obama's new corporate tax proposal would kill jobs, and instead offered some details of his own plan to address the nation's tax code.
"The president would take us in one direction, I'll take us in a different one," Romney told an audience of several hundred in Chandler, Arizona, as the GOP candidate attempted to regain his momentum by emphasizing his economic credentials.
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"He's proposing today a corporate tax plan which I understand sounds like he's lowering taxes but he's raising taxes – raising taxes on businesses by hundreds of billions of dollars," Romney said. "Raising taxes will kill jobs. My plan will create jobs. That's the difference between the two of us."
Romney said he would lower individual tax rates on all Americans by 20% but would limit the deductions and exemptions people could claim on their taxes.
The GOP candidate said those limitations would apply particularly to taxpayers earning high incomes "so that we make sure the top 1% keeps paying the current share they're paying or more."
"We want middle-income Americans to be the place we focus our help, because it's middle-income Americans that have been hurt by this Obama economy," Romney said.
The former Massachusetts governor will release the full scope of his economic plan Friday, in a speech to the Detroit Economic Club. The speech, which Romney has mentioned in public appearances since Tuesday, comes days before Michigan's crucial primary Feb. 28.
Romney has signaled his plan will include cuts to federal spending and an approach to overhauling entitlement programs such as Medicare and Social Security. He did not offer specifics on Wednesday.
The four GOP presidential hopefuls will meet on stage Wednesday evening for a CNN debate.