Romney, Santorum discuss luring manufacturers

(CBS News) CBS Evening News has done focused reporting around the GOP presidential campaign on what the candidates actually propose to do if they become president. With jobs at the top of many minds ahead of Super Tuesday, CBS News correspondents asked Rick Santorum and Mitt Romney how they would create more high paying manufacturing jobs.

CBS News correspondent Dean Reynolds reports that Rick Santorum presents himself as the son of the working class whose top priority will be to bring manufacturing jobs back to this country.

In addition to cutting the tax on manufacturers from about 32 percent to zero, Santorum would open up energy resources to make relocating here more attractive to business, and he would eliminate many regulations which he finds punitive. Santorum says the increase in job production would make up for any loss in tax revenue.

"I'd cut the corporate tax for manufacturing to zero so we'd create a real incentive for people to invest money in the manufacturing sector of the economy," Santorum said. "I'm not interested in attracting low, sub-minimum wage jobs back to America."

CBS News correspondent Jan Crawford reports that Mitt Romney has built his campaign on the economy and jobs. He argues that he's the only candidate who's worked in business and so he knows what it takes to revitalize American manufacturing.

On his first day as president, Romney has said he would submit a jobs package to Congress that he says will create 11 million jobs in his first four years. His plan is designed to get companies to locate and stay in America and also to increase demand for American products.

He would cut the corporate tax rate from 35 to 25 percent and make permanent the tax credit for research and development

Romney would consolidate federal worker retraining programs and transfer them to the states where workers could be better matched to local manufacturing jobs. To encourage demand for products made in America, Romney would negotiate new trade agreements and confront countries like China, which Romney say sells cheaper goods because they don't play by the rules.

Romney's critics point to his record as governor of Massachusetts. During his tenure, manufacturing jobs in the state fell by 14 percent, twice the national average.