McCain Will Focus On Economy Tomorrow

Monday, October 13th, 2008 at 6:55 pm

Marc Ambinder posts on The Atlantic McCain policy adviser Doug Holtz-Eakin said that Sen. McCain would address the economy tomorrow. Is anyone else getting a sore neck from watching all of this?

Meanwhile, today Senator Obama spoke in specifics about his plans for the economy:

Give businesses a new American jobs tax credit for each new employee they hire here in the United States over the next two years.
Eliminate all capital gains taxes on investments in small businesses and start-up companies.
Provide an additional tax incentive through next year to encourage new small business investment.
Fast track the loan guarantees we passed for our auto industry and provide more as needed so that they can build the energy-efficient cars America needs to end our dependence on foreign oil.
Save one million jobs by creating a Jobs and Growth Fund that will provide money to states and local communities so that they can move forward with projects to rebuild and repair our roads, our bridges, and our schools.
Call on Congress to pass a plan so that the IRS will mail out the first round of the proposed middle-class tax cuts as soon as possible.
Extend and expand unemployment benefits to those Americans who have lost their jobs and are having a harder time finding new ones in this weak economy.
Eliminate taxes on unemployment insurance benefits.
Waive the rules that currently force seniors 70.5 years of age and up to withdraw from their 401(k)s even when the market is bad.
Allow every family to withdraw up to 15% from their IRA or 401(k) up to a maximum of $10,000 without any fine or penalty throughout 2009.
Offer mortgage tax credit for struggling homeowners worth 10% of the mortgage interest you pay
Change the unfair bankruptcy laws that allow judges to write down your mortgage if you own six or seven homes, but not if you have only one.
Provide funding to prevent cities and small towns from having to choose between cutting health care and education services or raise property taxes.
Implement a three-month moratorium on foreclosures for mortgages obtained through banks and lenders that are getting money from the rescue plan.
The Treasury should not limit itself to purchasing mortgage-backed securities it should help unfreeze markets for individual mortgages, student loans, car loans, and credit card loans.
Create an emergency lending fund to lend money directly to small businesses that need cash for their payroll or to buy inventory.
Make it easier for private lenders to make small business loans by expanding the Small Business Administration’s loan guarantee program.