Tag: Mitt Romney

POLITICO Playbook – Romney’s ’04 Tax Pitch to S&P

REALITY CHECK— “Taxes key to Mitt’s ’04 pitch to S&P,” by Ben Smith: “Gov. Mitt Romney lobbied the credit ratings agency Standard & Poor’s in 2004 to raise his state’s credit rating in part because Massachusetts had raised taxes during an economic downturn two years earlier. The claim was part of a presentation to the ratings agency obtained by POLITICO under a state freedom of information law … ‘When I was governor, S&P rewarded Massachusetts with a credit rating upgrade for our sound fiscal management and the underlying strength of our economy,’ Romney boasted [after last week’s U.S. S&P downgrade]. … But Romney’s case to S&P [for Mass. in ’04]… bears a far closer resemblance to the right-of-center grand compromise rejected by House Republicans this year …

“Romney’s administration made the case to Standard & Poor’s that his state was creditworthy because of both spending cuts … and new revenues, including fees he imposed and tax ‘loopholes’ he closed. … Romney’s aides, asked about the presentation, pointed out that Romney, once he took office as governor in 2003, never signed a tax increase, but instead passed on most of the fruits of an economic boom to taxpayers in the form of tax cuts.” Story includes links to Romney’s 2004 deck, split in five parts http://bit.ly/qKIn0c  

Dude flip-flops more than my Rainbows.