Watch: Obama ad hits Romney on taxes



President Obama’s campaign is up with a new ad in Florida and eight other swing states, contrasting his tax plan with Mitt Romney’s. The ad says Romney’s plan calls for “a twenty five percent tax cut for millionaires, tax breaks for oil companies and corporations that ship jobs overseas,” along with a tax increase for 18 million “working families.”

While Obama’s plan, the narrator says, “ask the wealthy to pay a little more so the middle class pays less, eliminate oil subsidies and tax breaks for companies that outsource.”

The ad, “Two Plans,” comes out the same week that Obama revived his call to extend the George W. Bush-era tax cuts for middle-class taxpayers but eliminate them for those who make more than $250,000 a year.

Responding to the ad, Romney spokesperson Amanda Henneberg said: “President Obama’s tax increase will hit families, job creators, and small businesses all over the country. Governor Romney understands that the last thing we need to do in this weak economy is raise taxes on anyone.”