Romney Campaign Press Release - Job Creators Have A Clear Choice In November

"The choice for job creators in November couldn't be more clear. President Obama's policies have driven job creators out of business and increased layoffs. If given a second term, President Obama's agenda would destroy over 700,000 jobs and cost middle-class families as much as $4,000 in higher taxes. It's unacceptable and Americans deserve better. As president, Mitt Romney will cut taxes for the middle class and reform our tax code to get millions of Americans back to work in good-paying jobs." — Andrea Saul, Romney Campaign Spokesperson

President Obama's Failed Energy Policies Have Left Job Creators Struggling In Virginia And Around The Nation:

President Obama's Regulations Will "Effectively Prohibit New Coal-Fired Power Plants." "President Barack Obama's proposed emission rules for power plants effectively prohibit new coal- fired power plants, buttressing the nation's shift away from a power source that fueled the Industrial Revolution to cheap natural gas." (Mark Drajem, "Obama Power-Plant Rule Signals Demise Of 'Old King Coal,'" Bloomberg, 3/28/12)

By The End Of 2012, 111 Coal Plants Nationwide Will Have Closed Since President Obama Took Office. "But in the past two years, an increasing number of coal-powered electricity plants across the country have announced closures. Estimates vary, but banking and industry analysis firm Credit Suisse put expected and known closures for 2009-2012 at 111 plants, that's one-fifth of the nation's nearly 500 coal plants." (Lisa Desjardins, "The War Over Coal Is Personal," CNN, 7/17/12)

• Energy Information Administration Expects 175 Coal-Fired Generators To Retire Between 2012 And 2016. "Plant owners and operators report to EIA that they expect to retire almost 27 gigawatts (GW) of capacity from 175 coal-fired generators between 2012 and 2016. In 2011, there were 1,387 coal-fired generators in the United States, totaling almost 318 GW. The 27 GW of retiring capacity amounts to 8.5% of total 2011 coal-fired capacity." ("27 Gigawatts Of Coal-Fired Capacity To Retire over The Next Five Years," Energy Information Administration, 9/16/12)

According To The American Coalition For Clean Coal Electricity, Virginia Has 16 Coal Units That Are Either Closing Or Converting. (American Coalition for Clean Coal Electricity, 9/20/12)

In Virginia, "Direct And Indirect Employment From Coal Mining Account For 45,210 Jobs And A Combined Payroll Of $3.4 Billion." "Coal provides 30 percent of Virginia's electricity — some 20.2 billion kilowatts, according to the Energy Information Administration. That's enough to power 1 million homes and 58,000 businesses. Virginia ranks 12th in the nation in coal production, EIA said. Direct and indirect employment from coal mining account for 45,210 jobs and a combined payroll of $3.4 billion." (Kenric Ward, "Climate Regulations Leaving Virginia Coal Out In The Cold," The Examiner, 8/12/12)

Just Last Month, Coal Producer Alpha Natural Resources Announced It Will Close Eight Mines — Which Employ 1,200 Workers — In Virginia, West Virginia, And Pennsylvania.  "Coal producer Alpha Natural Resources said Tuesday it's cutting production by 16 million tons and eliminating 1,200 jobs companywide, including 400 with the immediate closing of eight mines in Virginia, West Virginia and Pennsylvania." (Vicki Smith, "Alpha Closing 8 Mines, Cutting 1,200 Jobs In All," The Associated Press, 9/18/12)

Dominion Virginia Power Has Plans To Shut Down Coal Facilities In Yorktown And Chesapeake. "Dominion Virginia Power, another major electric utility serving Virginia, also plans to shut down its coal-fired plants at Yorktown and Chesapeake. The two facilities have a combined capacity to generate 1,189 megawatts." (Kenric Ward, "Climate Regulations Leaving Virginia Coal Out In The Cold," The Examiner, 8/12/12)

FLASHBACK: Candidate Obama, On His Plans For Coal: "If Somebody Wants To Build A Coal Plant, They Can — It's Just That It Will Bankrupt Them..." OBAMA: "So, if somebody wants to build a coal plant, they can — it's just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that's being emitted." (Sen. Barack Obama, Interview With The San Francisco Chronicle Editorial Board, 1/17/08)

And President Obama's Second-Term Policies Will Hit Middle-Class Families And Small Businesses With Job-Destroying Tax Hikes:

Vice President Biden, On Whether The Obama-Biden Team Supports Trillions In Higher Taxes: "Yes We Do..." BIDEN: "On top of the trillions of dollars of spending that we have already cut, we're gonna ask — yes — we're gonna ask the wealthy to pay more. My heart breaks, come on man. You know the phrase they always use? Obama and Biden want to raise taxes by a trillion dollars. Guess what? Yes we do in one regard. We want to let that trillion-dollar tax cut expire so the middle class doesn't have to bear the burden of all that money going to the super wealthy. That's not a tax raise, that's called fairness where I come from." (Vice President Joe Biden, Remarks, Council Bluffs, IA, 10/4/12)

President Obama's Second-Term Tax Plan Will Hike Taxes On Small-Businesses And Jeopardize 710,000 Jobs. "Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations. The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," The Washington Post, 7/17/12)

• President Obama's Looming Tax Hikes Will Jeopardize Nearly 40,000 Jobs In Florida And Nearly 20,000 Jobs In Virginia. (Robert Carroll and Gerald Prante, "Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013," Ernst & Young LLP, 7/12)

The American Enterprise Institute Has Calculated That The Annual Cost Of President Obama's Current And Looming Debt Burden Amounts To $4,000 Per Year In Higher Taxes On The Middle Class. "In a new paper, AEI's Matt Jensen looks at the real annual cost of servicing the debt for households at various levels of income — including a potentially higher tax burden. As the table below illustrates, a household making between $100,000 and $200,000 a year could find its tax liability higher by roughly $2,400 every year. Over ten years, that works out to $24,000. And when you add in the debt already accrued the past four years under President Obama (the second table), that's another $1,600 a year. So now we are now talking about $4,000 a year, $40,000 over ten years." (James Pethokoukis, "Study: Obama's Big Budget Deficits Could Mean A $4,000 A Year Middle-Class Tax Hike," American Enterprise Institute, 10/2/12)

In Addition, Obamacare Will Subject Nearly 5 Million Middle-Class Americans To A Tax Increase. "Congressional budget analysts are now estimating that nearly 6 million Americans — most of them in the middle class — will have to pay a tax penalty for not getting health insurance once President Barack Obama's health care law is fully in place. ... And the budget office analysis found that nearly 80 percent of those who'll face the penalty would be making up to or less than five times the federal poverty level. Currently that would work out to $55,850 or less for an individual and $115,250 or less for a family of four." ("Tax Penalty To Hit Nearly 6M Uninsured People," The Associated Press, 9/19/12)