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04-15-2008, 05:58 PM #1
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Tax Cuts at Center of McCain Economic Plan
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April 16, 2008
Tax Cuts at Center of McCain Economic Plan
By MICHAEL COOPER
PITTSBURGH — Senator John McCain offered the broadest look yet at his economic policies in a speech here Tuesday, calling for tax cuts, a freeze of discretionary spending for a year, higher premiums for better-off Medicare recipients and elimination of federal gas taxes this summer to reinvigorate the sagging economy.
Mr. McCain, who made no mention of his previous pledge to balance the budget by the end of his first term, outlined a long list of tax cuts he favored in the speech, which was delivered on the deadline for filing taxes. He called once again for making the Bush tax cuts, which he voted against, permanent, and for cutting corporate taxes, phasing out the alternative minimum tax and doubling the value of exemptions for each dependent to $7,000 from $3,500. He also proposed giving people the option of using a simpler, shorter tax form.
One of Mr. McCain’s tax proposals would take effect even before the Republican Convention: he called on Congress to suspend the 18.4 cent a gallon federal gas tax from Memorial Day until Labor Day. Mr. McCain said that doing so would provide “an immediate economic stimulus,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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