Drawing from debate, Obama ad hits Romney on taxes

US President Barack Obama answers questions during the daily press briefing in the Brady Briefing Room at the White House in Washington on August 20, 2012. SAUL LOEB/AFP/Getty

Drawing on Wednesday night's debate where President Obama focused heavily on criticizing Mitt Romney's tax plan, the Obama campaign released a new TV ad continuing to hammer Romney, calling him untrustworthy.

The ad includes a clip of Romney from the debate saying that he is "not in favor of a $5 trillion tax cut. That's not my plan."

"Why won't Romney level with us about his tax plan, which gives the wealthy huge new tax breaks?" the narrator asks, pointing to a study by the Tax Policy Center that says Romney's plan would cost $4.8 trillion over 10 years largely because he hasn't detailed how he'd pay for it.

"Because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it," the narrator continues.

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"If we can't trust him here," the narrator says with images of Romney at the debate, then cutting to a picture of the Oval Office, the narrator concludes, "How could we ever trust him here?"

Meanwhile, the Romney campaign, in conjunction with the Republican National Committee, released their own television ad focused on taxes, responding to critiques the president made at the debate.

The ad defends Romney's plan and points to a study by the conservative-leaning American Enterprise Institute that says the president's plan raises taxes on the middle class by $4,000.

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    Leigh Ann Caldwell is a political reporter for CBSNews.com.

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