THE BUDGET
THE PROMISE
Romney's tax plan includes a permanent 20% decrease in income tax rates, which would reduce the top bracket to 28% from 35%. Romney would maintain rates on earned interest, capital gains and dividends for people making more than $200,000 and exempt those who earn less, while repealing the alternative minimum tax and estate tax.
THE POLITICS
Romney's plan broadly pledges popular tax and spending cuts but doesn't get specific about which programs would be cut and which tax loopholes he would close. It would benefit high earners while slightly increasing the burden on low- and middle-income families.
IMMIGRATION
THE PROMISE
Initially a hard-liner on illegal immigration, after the primaries ended, Romney advocated a program to keep undocumented families together. He supports green cards for immigrants with advanced degrees and proposes building a high-tech fence along the entire U.S.-Mexico border.
THE POLITICS
Romney is between a rock and a hard place: Hispanics back Obama by overwhelming margins, while conservatives don't want reform. Ryan's presence on the ticket complicates matters because he voted against the Dream Act and remains firmly against amnesty.
ENTITLEMENTS
THE PROMISE
Romney wants to gradually boost the eligibility age for Social Security benefits--to what he has not specified--and turn Medicaid into a program run by the states. For those currently 55 and younger, he would replace the current Medicare system with a "premium support" program that gives seniors a fixed amount to purchase private insurance.
THE POLITICS
Romney has embraced the goals in Paul Ryan's road map for reforming federal health insurance programs but has avoided discussing the specifics of Ryan's more controversial measures. Republicans say Barack Obama raided Medicare to pay for Obamacare, but voucherizing the program would be a far more dramatic reform.
JOBS
THE PROMISE
Romney wants to curb regulations to promote energy development; open new trade markets; beef up job-training programs; rein in teachers' unions; and repeal Obamacare and Wall Street reforms. He says he'll speed hiring by reducing taxes on small businesses.
THE POLITICS
With unemployment above 8%, this issue could be a winner for Romney, particularly if Republicans take control of the Senate. But for Romney to deliver on his pledge to create 12 million new jobs, the economy would have to grow at a rate faster than it has averaged for the past 60 years.
FOREIGN POLICY
THE PROMISE
Romney says he will strengthen U.S. ties with allies and be tougher on enemies and economic competitors. He has so far relied on many of George W. Bush's foreign policy advisers, embracing a potential Israeli attack against Iran, threatening trade penalties against China and calling for an end to negotiations with the Taliban in Afghanistan.
THE POLITICS