Mitt Romney has released a new television ad accusing President Barack Obama of “gutting welfare reform” while President Obama launches another attack on Bain Capital.

The Republican presidential contender says Obama simply wants to pass out checks without the work requirement adopted in President Bill Clinton’s welfare overhaul.

The Obama campaign says Romney is twisting the facts. Obama says he’s giving states the flexibility they’ve asked for to make welfare more efficient. Romney is among several Republican governors who signed a letter back in 2005 asking for more “waiver authority.”

The ad is part of Romney’s push to paint Obama as a big-government liberal.

Romney’s campaign is refusing to say where and when the new advertisement is running. Its release comes the same day that Romney campaigns in Chicago, the home of Obama’s national campaign headquarters.

Obama super PAC launches new ad on Romney record

A “super” political action committee supporting President Barack Obama is launching a new television advertisement criticizing Republican Mitt Romney’s business record at Bain Capital.

The ad, sponsored by Priorities USA Action, features a former employee at GST Steel who lost his job and health insurance when Bain closed the Kansas-based steel plant in 2001. The man says he doesn’t think Romney “understands what he’s done to people’s lives” by closing the plant.

The ad is the fifth in a series of spots from Priorities targeting Romney’s business record, the centerpiece of the presumptive Republican nominee’s campaign. The ad is running in five battleground states: Florida, Ohio, Iowa, Virginia and Pennsylvania.

Obama is set to attend fundraisers Tuesday evening in the District of Columbia. Romney is raising campaign money in Illinois.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)