Newt's Economic Stand Voters seem to like his pro-growth message but still have doubts about the messenger. By KIMBERLEY A. STRASSEL

Dubuque, Iowa
It is nearly caucus time, and Newt Gingrich has found his closing argument. The question is whether it comes soon enough to save his campaign.
Mr. Gingrich rolled into this state on Tuesday with a new focus on pro-growth economic policies and a new determination to sharply contrast his proposals with those of his main rival for the nomination, Mitt Romney. On his first stop here on his final Iowa bus tour, Mr. Gingrich went straight to the mat. Voters face a choice, between "a supply-sider in the [Jack] Kemp-Reagan tradition," and "the philosophy of a moderate Massachusetts governor" who "said he did not want to go back to the Reagan-Bush years."
This pro-growth mantra isn't just strategy, it's necessity. The Gingrich surge has been checked by a barrage of negative campaign ads from his rivals, reminding voters of the former speaker's ties to Freddie Mac, his checkered Washington tenure, his marital baggage. Lacking the money or organization to respond, the campaign has drifted down in the polls, raising the distinct possibility that Mr. Gingrich could end up in a lackluster fourth place.


Mr. Gingrich is betting his new economic theme will be a winner, and he has grounds to think so. The voters in this state have heard every candidate promise the same things: They'll slash government spending, kill ObamaCare, rein in the Environmental Protection Agency. This has become a baseline for conservatives—they expect as much. What they are aching to hear is a bold, positive plan for how to reverse the ravages of Obamanomics.
That thirst was behind the rise of Herman Cain and his 9-9-9 plan, and for a while the pizza maven kept the other candidates on their pro-growth toes. But with his departure, the economic theme has lost some prominence. Mr. Gingrich is looking to re-jump-start his campaign as the growth guy.

Enlarge Image

Associated Press

Newt Gingrich campaigns in Iowa, Dec. 28.

And so here in this city, and across Iowa, Mr. Gingrich spent the week laying out his reform agenda. He riffed on his plans to eliminate the capital gains tax, to give voters an optional 15% flat tax, to cut the corporate tax rate to 12.5%, to axe the death tax. The campaign is plowing money into ads highlighting his economic plan and blasting out emails comparing it to Mr. Romney's. Mr. Gingrich is also touting an endorsement by supply-sider Art Laffer and telling voters he'd staff his cabinet with pro-growth adherents like Steve Forbes.
The Gingrich strategy—in addition to ginning up voter enthusiasm—is to drill into Mr. Romney's soft spot. The former speaker's "problem with Mr. Romney," he kept noting, is the former Massachusetts governor's timidity on tax policy. Mr. Romney has been cautious, shying from a flat tax, promising only to extend the Bush tax cuts, and offering a relatively small corporate tax cut (to 25% from 35%). His determination to be the champion of the "middle class" has also led to economically confused proposals, such as eliminating capital gains tax only for those making under $200,000 a year.
Mr. Gingrich's goal is also to make the case that the Republican nominee with the strongest economic proposals is the Republican nominee best positioned to take on Mr. Obama. He's correctly arguing that this election is going to be won or lost on contrasts, and that there will be no greater flashpoint with Mr. Obama than on economic policy.
Judging by the audience reaction, the voters were listening—though they'd have been listening more when Mr. Gingrich was still on top. In the intervening weeks, the pounding Mr. Gingrich has received at the hands of rivals has entered the public consciousness. It was notable that few of the voters at the Gingrich events were committed supporters. Most were folks who wanted to see if the candidate could overcome the doubts they'd developed about his temperament and past jobs and political positions.
And while many liked the economic theme, they left with those doubts still top of mind. "There's just so much baggage," says Mike Bertling, a small business owner who came out to hear Mr. Gingrich speak at the National Farm Toy Museum in Dyersville. "How do you get past that?"
There's also Mr. Gingrich's tendency to wander off subject—as he did frequently this week—raising questions about his ability to drive home his economic pitch. And there's the odd way he's packaging his message, arguing that his supply-side credentials stem from his time as speaker of the House. While many conservatives may remember the 1990s as a time of relative prosperity, the allusions also remind them of those things they didn't like about Mr. Gingrich—from government shutdowns to ethics allegations.
The Gingrich team is playing down expectations for Iowa, stressing the long game. It's betting that Mr. Romney will retain a ceiling on his support, and that Mr. Gingrich's economic message will help him to consolidate a majority as other candidates drop out. It's looking to South Carolina, and in particular to the late-January primary in Florida, where Mr. Gingrich has been focusing his efforts.
Yet Mr. Romney has been rising in the Iowa polls, and a victory here, followed by a smashing win in his stomping grounds of New Hampshire, could set him on an inexorable path to victory. Mr. Gingrich is making a winning last pro-growth stand, though it may come too late to capture the nomination.