Should Romney lose tomorrow, Beinart bets that Republicans will fight over their party's immigration policies:

If Romney loses, it will also be hard for Republicans to escape the fact that their inability to win Hispanics represents a mortal threat to their political future. The GOP put virtually every major Republican Hispanic office-holder on stage at this year’s convention, but it didn’t matter. And even if they put Rubio on the ticket in 2016, it still won’t matter all that much, so long as Hispanics feel the GOP’s policies are anti–Hispanic immigrant.

If Romney loses, at least some prominent Republicans will recognize that he lost the Hispanic vote because he was pushed far to the right on immigration during the primaries. And they’ll demand that the next GOP nominee avoid that trap, which will put them in conflict with the party’s activist base. As one GOP strategist told the National Journal’s Ron Brownstein this August, referring to the Romney campaign’s bid to win the White House on the back of the white Anglo vote alone, “This is the last time anyone will try to do this.”

Shikha Dalmia also focuses on the GOP's loss of the Hispanic vote:

Hispanic support for Romney is about 15 percentage points lower than it was for George W. Bush’s 40 percent support in 2004. In Colorado, a Latino Decisions poll shows that 69 percent of Hispanic voters favor President Barack Obama, with only 17 percent for Romney. In Nevada, the edge is 69 percent to 15 percent. In Florida, there is a 29-point gap.