President Obama hit the campaign trail in Iowa on Tuesday, one day after calling for extending the Bush-era tax cuts to Americans making less than $250,000 a year. Drawing a contrast with Republican rival Mitt Romney, Obama said those making above that amount should return to the tax levels they paid before Bush took office.

President Obama: “I believe that we should make sure the taxes on 98 percent of Americans don’t go up, and then we should let the tax cuts expire for folks like me, for the top 2 percent of Americans. So, anybody making over $250,000 a year, including me, we’d go back to the tax rates that we were paying under Bill Clinton, which, by the way, was a time when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and created plenty of millionaires to boot.”

In his remarks, President Obama also continued with a campaign theme of linking Romney to the outsourcing of U.S. jobs following reports about the practices of Romney’s former company, Bain Capital.

President Obama: “Governor Romney has experience owning companies that were called pioneers in the business of outsourcing. My experience has been working with outstanding members of labor and great managers to save the American auto industry. And as long as I’m president, I will keep fighting to make sure jobs are located here in the United States of America.”