Home / International / World Tools: Save | Print | E-mail | Most Read | Comment
McCain offers new economic relief plan
Adjust font size:

U.S. Republican presidential nominee John McCain on Tuesday offered a new plan which includes 52.5 billion U.S. dollars in tax breaks aimed at reducing the impact of stock market losses.

Under the proposal, unveiled in a suburb of Philadelphia, seniors would pay lower taxes when they tap their retirement accounts and people who sell falling stocks could write off more of their losses.

Those who are out of work would no longer be taxed on the unemployment benefits they collect.

And those who make a profit by selling long-held stocks would pay only half the capital gains taxes for the next two years.

"I will help to create jobs for Americans in the most effective way a president can do this -- with tax cuts that are directed specifically to create jobs and protect your life savings," McCain said to a crowd in Montgomery County, Pa.

The senator from Arizona offered the new economic prescriptions a day before he will face Democratic opponent Barack Obama in their final debate at Hofstra University in Hempstead, N.Y., on Wednesday night.

Polls suggested that the economic distress of the past several weeks has taken its toll on McCain's campaign, which has sunk in national and battleground surveys.

His proposals came a day after Obama offered his own ideas for helping those most affected by sinking stocks, the contracting job market and the falling prices of most homes.

(Xinhua News Agency October 15, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Obama, McCain unveil new economic proposals
- Obama widens lead over McCain in polls
- Obama, McCain clash on economy
- Obama, McCain urge new bailout plan
- Obama, McCain face off in second debate
Most Viewed >>
- China, Russia unveil boundary markers
- Asia-Europe People's Forum held in China
- Russia test-fires missiles in large-scale drill
- Sino-Russian boundary agreement sets example
- China urges US to drop proposed Taiwan arms sale
> Korean Nuclear Talks
> Reconstruction of Iraq
> Middle East Peace Process
> Iran Nuclear Issue
> 6th SCO Summit Meeting
- China Development Gateway
- Foreign Ministry
- Network of East Asian Think-Tanks
- China-EU Association
- China-Africa Business Council
- China Foreign Affairs University
- University of International Relations
- Institute of World Economics & Politics
- Institute of Russian, East European & Central Asian Studies
- Institute of West Asian & African Studies
- Institute of Latin American Studies
- Institute of Asia-Pacific Studies
- Institute of Japanese Studies