The Economy: Over the next two weeks, Senator Obama will be talking to Americans around the country about the economy and how it’s affecting their everyday lives. He’ll meet with voters where they work and where they live, the places where they are feeling the most strained. He’ll discuss the effects of the economic downturn that people are feeling acutely every day—like higher gas prices and food costs. But he’ll also talk about the long-term solutions he’s proposed to grow the economy, such as investment in green jobs, technology and innovation, advanced manufacturing and education.
· Taxes: Barack Obama will provide a broad base tax cut for the middle class. He’ll provide a tax credit of $1,000 per family or $500 per worker, putting money back in the pocket of 95 percent of workers and their families. He’ll provide struggling homeowners relief by offering a tax credit that covers ten percent of their mortgage interest payment every year, and he’ll eliminate income taxes entirely for seniors making less than $50,000. While it’s that the wealthiest Americans will be asked to pay their fair share, the reality is that under President Obama, virtually every American is going to see a tax cut.
· Education Expenses: Senator Obama will guarantee every student $4,000 a year of tuition in return for a pledge to engage in community or national service. If you invest in America, America will invest in you.
· Fiscal Stimulus: Senator Obama has called for another round of fiscal stimulus, an immediate $30 billion to help those who’ve been hit hardest by this economic downturn. The Senator has proposed expanding unemployment benefits and extending them for those who can’t find another job right away.
· Mortgage Crisis: Senator Obama offered a proposal to crack down on mortgage fraud almost two years ago, and in this campaign he’s called for the immediate creation of a $10 billion Foreclosure Prevention Fund to provide direct relief to victims of the housing crisis. He’ll also help those who are facing foreclosure refinance their mortgages so they can stay in their homes at rates they can afford. And he’ll provide struggling homeowners relief by offering a tax credit to low- and middle-income Americans that would cover ten percent of their mortgage interest payment every year
· McCain’s Policy: in contrast, Senator McCain offers four more years of George Bush’s tax cuts for the wealthiest Americans who don’t need them and didn’t ask for them. This means four more years of a health care plan that works for the healthy and the wealthy while tens of millions go without care, and families struggle with rising costs. And four more years of a President who sees private accounts as the way to save Social Security.
