(Image Credit: Priorities USA Action)

The pro-Obama super PAC, Priorities USA Action, has launched a new battleground-state TV ad campaign, attacking Mitt Romney as an out-of-touch millionaire who became "wealthy at the expense of the middle class."

Featured in the 30-second spot is the now-infamous 1985 photo of Romney and his Bain Capital colleagues celebrating a deal with dollar bills coming out of their pockets.

"He made millions off companies that went bankrupt while workers lost promised health and retirement benefits. His own tax return from last year reveals he made $21 million, yet paid a lower tax rate than many middle-class families," the narrator says. "Now, Romney's proposing a huge new $150,000 tax ­cut for the wealthiest 1 percent while cutting Medicare and education for us.

"Mitt Romney:  If he wins, we lose," the ad says.

The Romney campaign said it expects nothing less from Obama supporters. "It's not surprising that the liberal allies of the president with the worst job creation record in modern history would try to distract Americans from serious economic issues with a series of political stunts and sideshows," Romney spokeswoman Amanda Henneberg said.  "President Obama realizes that he can't campaign on his failed policies and abysmal economic agenda, so he is willing to do and say anything to change the subject."

The ad campaign comes as President Obama and Democrats step up pressure on the presumptive Republican nominee for his tax returns and opposition to the Buffett Rule, which would ensure that millionaires like Romney pay at least 30 percent of their income in taxes.

Obama re-released 12 years of tax returns Friday, showing he had an effective 20.5 percent tax rate in 2011.  Romney has only released his 2010 return, which report $21 million in earnings and an effective tax rate of 14 percent.

Priorities USA Action said its ad will air in Florida, Iowa, Ohio and Virginia. all four are critical swing states for November.

Watch the video HERE.