Romney has promised to lower income tax rates for corporations and individuals, cut non-security government spending by 5 percent, ease limits on oil and gas drilling and roll back government regulations, including the Obama-backed health-care law and financial regulatory overhaul.
Romney and his economic advisers argue that durable changes in the tax burden and government regulation will provide the most effective stimulus. Investors are more apt to build factories or start businesses if they can look forward to many years of higher after-tax profits, they say.
"Long-term reform can boost short-term confidence and growth," Glenn Hubbard, a Romney economic adviser, said in an e-mail. "Short-term growth comes from reduced policy uncertainty and greater investment and employment accompanying tax reform."