Tales from the Trail

For Portman, it all comes down to beer

Rob Portman is upset about the tax laws that make a real American beer hard to find.

The senator from Ohio, who is seen as a leading candidate to be Republican presidential candidate Mitt Romney’s vice presidential pick, spoke out at the Reuters Washington Summit against tax policy that puts American companies at a disadvantage.

“I’m a beer drinker and I’m particularly upset by the fact there is no big U.S. beer company any more,” said Portman, a former budget director who criticized the Obama administration for failing to overhaul corporate taxes in the United States.

“Sam Adams is now the largest U.S. beer company, with one percent market share. All the rest are foreign owned now and driven by tax policy.”

Portman called for a revamped tax system “so Budweiser can stay an American company.”

Obama campaign attacks Romney for raising fees as governor

Former Massachusetts governor Mitt Romney and Massachusetts Democratic state lawmakers closed a budget shortfall by closing corporate tax loopholes and raising fees, the latter of which was attacked in a television advertisement the Obama campaign released on Wednesday.

The ad — titled “Mosaic” — hit Romney, who has said on the stump that he closed the budget shortfall without raising taxes, for raising state fees on everything from marriage licenses to gun permits when he was governor of The Bay State for one term starting in 2003.

“When Governor Romney says we balanced the budget without increasing revenues, that’s not true at all,” said Andrew Bagley, Director of Research and Public Affairs at the Massachusetts Taxpayers Foundation, a non-partisan research group. “Let’s put it this way, corporations paid more taxes after changes to the tax policy.”

Washington Extra – Tax time

If President Obama did indeed schedule the release of his corporate tax revamp Wednesday to steal the spotlight from Mitt Romney’s tax plan rollout – as some critics charge – it just might have worked. The Obama plan was the top story of the day.

But perhaps more importantly, Obama neutralized corporate taxes as an election year issue by aligning himself with Republican positions.

Sure, there may be differences in the tax rates each candidate backs – Obama at 28 percent, Romney 25 percent, Santorum 17.5 percent and Gingrich 12.5 percent.