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McCain Offers Mixed Signals On Economy; Obama Offers Proposals

(AP) – John McCain’s campaign is sending mixed signals about whether he’ll be offering more proposals to address the current financial crisis.

South Carolina Senator Lindsey Graham says McCain is considering cutting taxes on investments, including lowering the capital gains tax.

But a campaign spokesman says the GOP candidate won’t be announcing any specific new proposals, at least not today. He hints, however, there may be some further plans later this week “as economic news and conditions change.”

When asked about any new proposals Sunday, McCain didn’t say.

He already has laid out some plans to address the meltdown,including a $300 billion proposal for the government to buy distressed mortgages and renegotiate them at a reduced price.

Democrat Barack Obama is calling for a 90-day moratorium on foreclosures and a two-year tax break for businesses that create jobs as part of a plan to heal the nation’s ailing economy.

The presidential candidate says banks that participate in the federal bailout should temporarily postpone foreclosures for families making good-faith efforts to pay their mortgage.

He also called for a $3,000 tax credit for each additional full-time job a business creates. The tax break would end after 2010.

Obama also is proposing letting people withdraw up to $10,000 from their retirement accounts without any penalty this year and next.

The Obama campaign emphasizes that these ideas can be done quickly, either through executive order or legislation.

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(Copyright 2008 by The Associated Press. All Rights Reserved.)

KESQ News Team


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