(CNN) - President Barack Obama heads to the crucial battleground state of Ohio Monday to tell voters that Republican challenger Mitt Romney's tax proposals would send American jobs to countries overseas, including China.
The Romney campaign responds that the new allegation from the Obama campaign is "another dishonest attack."
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The president holds a town hall in Cincinnati Monday, where his campaign says he'll highlight his push to extend the middle class tax cut and where he'll tout his administration's 2009 bailout of the U.S. auto industry, which Democrats say saved thousands of jobs in the Buckeye State. Romney has repeatedly stated his opposition to the president's loaning of taxpayer dollars to Chrysler and General Motors while they reorganized during bankruptcy protection.
The Obama campaign also says the president will discuss a new report that estimates that Romney's "support for eliminating U.S. Taxes on American companies' foreign incomes would create 800,000 jobs in other countries, including 73,000 jobs in China. These jobs are likely to come at the expense of American workers, in cities like Cincinnati."
The report the Obama campaign is touting, published in Tax Notes, concludes that the reforms Romney supports "would significantly increase incentives for U.S. firms to move economic activity abroad."
The Romney campaign quickly fired back.
"President Obama is at it again today with another dishonest attack meant to distract from his own record of failure. After spending three years pushing policies that drive jobs overseas and sending taxpayer money to foreign-owned companies, it's clear President Obama doesn't have a clue when it comes to job creation in America," Romney campaign spokeswoman Amanda Henneberg told CNN.
"Our corporate tax rate is the highest in the industrial world and impairs the ability of American businesses to both compete globally and create jobs here at home. Mitt Romney has a comprehensive plan to reform the corporate tax code that will lower rates, get rid of incentives for firms to create jobs in other countries, and encourage the kind of economic growth President Obama has been unable to deliver," added Henneberg.
The new back and forth comes as both campaigns have repeatedly accused the opposing candidate of outsourcing U.S. jobs overseas. A non-partisan fact checker -Factcheck.org– has poked some holes in Obama campaign commercials that accuse Romney of outsourcing.
The stop in the Buckeye state will be the president's eighth trip there this year. Obama held his first official campaign rally of his re-election bid in Columbus in early May and a week and a half ago he spent two days on a campaign bus tour through the northern part of the state.
Ohio's a battleground or swing state, which will be heavily contested by both major parties in the presidential election. The most recent poll in the state, conducted late last month by Quinnipiac University, indicated the president with a 47%-38% lead over Republican challenger Mitt Romney. In the 2008 election, Obama won the state by five points over Sen. John McCain, the GOP presidential nominee.
Romney was last in Ohio on June 21, and heads back on Wednesday, holding an event in Bowling Green, in the northwestern part of the state. The trip will be Romney's 11th to Ohio this year, though many of the stops were for the state's GOP primary, which was held in early March.
In advance of the president's town hall in Cincinnati, top Romney surrogate Sen. Rob Portman of Ohio held an event in nearby Lebanon. Portman is considered to be one of the candidates Romney is seriously considering as his running mate.
Since April 10, the Obama campaign has spent nearly $10 million to run ads on broadcast TV in Ohio. And the Romney campaign has shelled out more than $3.7 million. When you add in money spent by independent organizations, including advocacy groups and so-called super PACs, there has been more than $22 million in ad buys in Ohio.
The figures come from data provided to their clients by Kantar Media/Campaign Media Analysis Group, which tracks political ad spending on broadcast TV and national cable. The data covers the period from April 10 through May 24. April 10 is the day former Sen. Rick Santorum of Pennsylvania suspended his presidential campaign. Santorum was Romney's main rival for the Republican presidential nomination, and when he left the race, the former Massachusetts governor became the presumptive GOP nominee.