(CNN) – A new ad released by Mitt Romney's campaign Sunday pushes back against a claim President Barack Obama repeatedly leveled at Wednesday's presidential debate - a claim CNN's Fact Check found to be false.
"President Obama continues to distort Mitt Romney's economic plan," the narrator in the spot says.
At Wednesday's debate, Obama repeatedly charged that Romney's tax plan "calls for a $5 trillion tax cut."
"He is saying that he is going to pay for it by closing loopholes and deductions," Obama said. "The problem is that he's been asked over 100 times how you would close those deductions and loopholes, and he hasn't been able to identify them."
But Romney maintained it would not, as he would not enact a plan that adds to the federal deficit.
“I'm not in favor of a $5 trillion tax cut. That's not my plan. My plan is not to put in place any tax cut that will add to the deficit,” Romney said. “So you may keep referring to it as a $5 trillion tax cut, but that's not my plan.”
Romney maintained he would not sign off on a plan that increases the deficit. CNN has rated Obama's claim as false.
The GOP candidate said he would pay for the plan in two ways: first, by closing loopholes. Second, he said, his plan would increase economic activity, resulting in increased federal government revenues.
“But in order for us not to lose revenue, have the government run out of money, I also lower deductions and credits and exemptions, so that we keep taking in the same money when you also account for growth,” Romney said.
The ad cited two other media fact checks, as well as a statement Obama deputy campaign manager Stephanie Cutter made when defending her candidate's claim on CNN.
"Well, OK, stipulated, it won't be near $5 trillion," Cutter can be seen saying in the ad.
In the interview, she goes on to charge that the plan still wouldn't balance: "But it’s also not going to be the sum of $5 trillion in the loopholes that he's going to close."
Obama's campaign on Saturday apparently stood by the claim, releasing an ad on the matter that called Romney dishonest and used footage from the debate.
On Saturday, Romney campaign communications director Gail Gitcho sent reporters a memo entitled, "President Obama's $5 Trillion Falsehood."
"Clearly, the Obama campaign was in full damage control mode at the end of this past week. Given such a devastating record, it’s no surprise Barack Obama will say and do anything to avoid talking about his middle-class tax-hike plan," Gitcho wrote.
Romney's campaign has not said where the ad will run nor how much it is spending on the spot.
– CNN's John Berman contributed to this report
Has he been taking expensive private lessons on how to present softer?
Who's really lying here CNN? In another CNN story called "Filling in the blanks of Romney's tax plan", you cite Romney's plan to cut 5 trillion in taxes. Romney is a serial liar, and he has even lied about his own tax returns. I'll be taking the President at his word, not Romney, who has yet to say a single honest thing.
If you are going to cut taxes by 5T over 10 years, you are going to cut taxes by 5T. You might close loopholes or cut spending to ensure it doesn't add to the deficit, but you are still cutting taxes by 5T. You have to be able to establish a baseline for further discussion. Obama would be lying if he said, "You are going to add 5T to the debt." He did not. Mitt is in fact proposing a tax cut of at least 5T. Mitt is just playing a shell game so that he can promise everything without being committed to anything.
Romney also said during the debate that he "would not lower taxes on the wealthy," which is a blatant contradiction to the Romney quotes in this article. Didn't we learn what type of "economic growth" to expect from "protecting the job creators"? I want a POTUS who will also protect the backbone of our economy, the middle class.
obama is best president
...so that we keep taking in the same money when you also account for growth,” This quote from Romney is the fly in the ointment. The Romney/Ryan campaign admits growth could come years down the road. I don't know which assumption R/R makes is worse. The growth assumption or the assumption that shopping around for medical care will lower prices. That assumption "shopping around" sure works for keeping the price of gasoline down. Just ask the Californians.
Interesting how CNN claims to have fact checked Obama's claim as false, but does not link to this explanation. Too many fact checkers are being vague when they claim someone has a false claim. The explanation would make this easier for the rest of us to decide for ourselves. Likely scenario? Mitt has taken so many separate stands on taxes that it's near impossible to claim anything he says is his real tax plan. Asked for a Tax Plan, he doesn't provide specifics. So where is the claim false? Mitt is in full blown campaign promise mode. He has NO TAX PLAN. Just a lot of promises to everyone. But in the end we end up paying.