Club for Growth backs Romney's jobs plan, questions trade policy

Club for Growth called former Massachusetts Gov. Mitt Romney's jobs plan "pro-growth," although the group expressed concern over his trade policy with China. 

Two days ahead of President Obama's speech before a joint session of Congress, Romney unveiled on Tuesday a 156-page proposal with 59 job-growth polices, including 10 "concrete actions" he would take on Day 1 of his presidency.

“Governor Romney deserves praise for his specific plan to put America on a path to economic prosperity,” said Club for Growth President Chris Chocola. 

Chocola cited Romney's plan to eliminate taxes on savings and investment, pushing for a flatter tax system and cutting the corporate tax as "positive steps."

"Governor Romney has correctly identified that a lower regulatory burden would create a positive climate for economic growth and has laid out pro-growth specifics on how to accomplish this goal," he said. 

Romney pledged to sign five executive orders on his first day, including granting a wavier from "ObamaCare" to all 50 states, putting all regulations implemented under Obama's presidency on hold pending assessment, boosting domestic energy production, sanctioning China for what he called the "worst example" of cheating on trade agreements and ensuring American workers get a secret ballot on votes to unionize.

"Unlike President Obama, who has given nothing but empty rhetoric promising more of the same failed policies, Governor Romney has offered specific solutions. Every Presidential candidate should issue a comparable blueprint for Americans to review,” Chocola said. 

He also displayed a list of five bills that he would submit for congressional action within 30 days of the start of his presidency, which included cutting all federal spending, except military spending, by 5 percent.

"In the first five years, this plan will grow the economy at approximately 5 percent per year each year," Romney said during a Tuesday speech. "It will add 11.5 million new jobs."

But the Club for Growth expressed concerns about Romney's plan to designate China as a currency manipulator and step up its duties. 

“We are somewhat concerned by the protectionist language used by Governor Romney in his plan regarding trade with China," he said. "A President Romney would be wise to avoid starting a trade war with China and punitive duties like the ones proposed by Romney are the first step in that direction.” 

In the proposal, Romney said if "China fails to move quickly to bring its currency to fair value, the Department of the Treasury in a Romney administration will designate China a currency manipulator and the Department of Commerce will impose countervailing duties."

The Obama administration hasn't designated China as a currency manipulator, although there are more lawmakers clamoring to apply more pressure on the Communist nation and the United States's largest trading partner.