The Hill News

Mitt Romney released a statement Friday hammering Vice President Biden for suggesting a "global minimum tax" at a campaign stop in Iowa earlier this week, arguing the proposal would harm American companies' ability to compete internationally.

“Raising taxes on American job creators is apparently not enough to satisfy President’s Obama’s trillion-dollar spending addiction. Instead of promoting pro-growth tax policies that provide businesses with the economic freedom to grow and prosper, he is backing a ‘global tax’ that would harm American competitiveness," Romney said in a statement released by the campaign. "My plan to reform the tax code by cutting rates and encouraging reinvestment here in America is the right way to jump-start an economic recovery and create new American jobs.”

Biden made the comment while campaigning in Davenport, Iowa, on Wednesday.

"For years, American manufacturers have faced one of the highest tax rat! es in the world. We want to reduce that by over 20 percent. We want to drop the rate, particularly, for high-tech manufacturers like you … even further than the 20 percent," Biden said. "We want to create (what's called) a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home."

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