It's not true if you take Mitt at his word, but that doesn't mean his word is true. All because Mitt says it doesn't make it so.
So the cost is still in the ballpark of up to $5 trillion, less after deductions, but still not enough to be revenue neutral based on closing loopholes alone.
Once again, how is he going to pay for these tax cuts if he's not going to cut defense? Has to be Medicare, Medicaid, SS, corporate welfare, and/or social welfare.
Here is the thing - we keep hearing from libs that Romney doesn't have a plan. They say that Romney/Ryan cannot explain their plan. it was said in the comments here that the plan on their web site has no information in it. So how does a supposedly non-existent plan with no information add up to $5 trillion? We have Obama's own campaign flip-flopping (sorry, evolving, because Obama and his surrogates don't flip-flop, they evolve) one minute saying it is $5T, the next it will not be $5T then it is $5T on a plan that supposedly does not exist but does exist to not have much information. Who are we to believe, CNN, Politico, or Obama's campaign? I don't know which of their evolvings I am to believe.
Of course, then we have the so called "independent" Tax Policy Center, that wrote the critique of the supposedly non-existent Romney tax plan. Yes, so independent, that it was written by a former Obama WH staffer, Adam Looney, who's own bio describes himself as the senior economist for public finance and tax policy with the President's Council of Economic Advisers. But I guess Looney's independence "evolved" too.