McCain on the Economy

Today John McCain will be laying out a new economic plan that proposes new tax cuts and utilizes the federal government to help revive the lagging economy. His plan’s central principle is tax cuts, including corporate tax cuts and making the Bush tax cuts permanent. He will also seek a temporary moratorium on the gasoline taxes during the busy travel summer month, as well as double the tax exemption for dependents. In addition, McCain reiterated his plead to slash wasteful government spending, along with proposing a freeze on discretionary spending. Finally, McCain will also call on wealthier senior citizens to pay higher premiums to qualify for prescription drug coverage.