By Alexander Bolton
March 28, 2007
Anti-tax advocates are scrutinizing Mitt Romney’s (R) record as governor of Massachusetts and focusing on the fact that he increased fees in the state by $500 million and proposed nearly $400 million in business tax increases.
This could erode whatever advantage on tax policy he hopes to have over 2008 presidential rivals such as Sen. John McCain (R-Ariz.) and former New York City mayor Rudy Giuliani (R).
The Cato Institute, a libertarian think tank, published a fiscal-policy report card for 2006 that gave Romney a C grade, ranking him behind 11 other governors, including Democratic White House hopeful Bill Richardson, governor of New Mexico.
Cato found that Romney increased annual state fees by $500 million as governor and proposed two corporate tax increases totaling close to $400 million a year.
When he took office, Romney faced a budget deficit of $3.2 billion, which he eliminated. He did not hike personal income or sales taxes. He is now highlighting his efforts to cut Massachusetts’s income tax rate from 5.3 percent to 5 percent and his successful shepherding of a $250 million capital gains tax refund through the Democrat-dominated state legislature.
http://thehill.com/leading-the-news/romneys-tax-record-gets-a-closer-look-2007-03-27.html