Updated August 29, 2008
JOHN MCCAIN – POSITIONS ON POVERTY AND ECONOMIC OPPORTUNITY
Senator John McCain
(R-Ariz.) has outlined his plans to fight poverty and promote economic
opportunity for American families. The following is a general overview of some Senator
McCain’s proposed policies with links to pertinent speeches, campaign
proposals, and nonpartisan third-party analysis of the Senator’s stance on the
issues that affect low-income Americans. To read about the proposals of Senator
Barack Obama (D-Ill.), click here.
Spotlight on Poverty and Opportunity does
not support or oppose any candidate for public office and does not take
positions on legislation.
Senator
John McCain released a statement on poverty on the anniversary of Dr. Martin
Luther King’s assassination:
“I will make the
eradication of poverty a top priority of the McCain Administration. A strong
and vibrant America, one in which people can move up into the middle-class, put
their kids through college, work hard and one day retire in dignity, is
critical not only to our economic future but to the very security of our
nation.” (John McCain, April 4, 2008) Read complete
statement.
A
few weeks later, McCain embarked on a tour of some of the country’s most
economically devastated areas. After
touring Inez, Ky., McCain said, “Government has a role to
play in helping people who, through no fault of their own, are having a hard
time” (John McCain. Speech: Inez, Ky. April 23, 2008). During the
question and answer period, McCain also stated that in his view, the country is
in a recession. “I believe we are in a
recession, I believe the numbers indicate that.” (Bloomberg News, “McCain Vows War on Poverty, Says Nation in Recession.”
April 23, 2008)
Senator
McCain has outlined his position on the following economic issues affecting
low-income American families through his campaign platform, speeches and
interviews.
High Gas Prices
Senator
McCain has called for a “summer gas tax holiday” urging Congress to temporarily drop
the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to
Labor Day. McCain also pledges to eradicate policies that affect higher
transportation costs such as ethanol subsidies, tariffs and sugar quotas.
Housing
Senator McCain proposes what his campaign
calls a “HOME Plan,” which specifically targets American families at risk of
losing their homes because of subprime mortgages. (John
McCain, Fox
News Sunday, April 6, 2008)
Under
McCain’s HOME plan, applicants would need to prove that their primary residence
is under a subprime mortgage taken out after 2005; demonstrate that they had acceptable
credit at the time of the initial home loan; and show that they are unable to pay
the rest of their mortgage. The McCain plan calls for the Federal Housing
Administration to work with a qualified individual’s mortgage provider to
retire their loan and replace it with an FHA guaranteed HOME loan from an
approved lender. (Jobs for America: The McCain Economic Plan (pdf), page 3)
Tax Policy
Senator
McCain has pledged to make permanent most of the 2001-2003 tax cuts which
otherwise expire in 2010, explaining that this move would keep tax rates low
for small and mid-size business owners, who employ millions of Americans (McCain
Economic Plan for Low Taxes and Government Spending, August 22, 2008). Key provisions
of the Bush tax cuts include a lower tax bracket from 15 percent to 10 percent, a reduction of the marriage penalty by “restoring
the deduction for two-earner families” and doubling the child tax credit to
$1,000 per child. (The
President’s Agenda for Tax Relief)
Additionally,
McCain has pledged to permanently repeal the Alternative Minimum Tax (AMT) – a cut
that the McCain campaign estimates would save an average of more than $2,700
per family. In a speech on April 15, 2008, McCain said “I will also send to the
Congress a middle-class tax cut—a complete phase-out of the Alternative Minimum
Tax to save more than 25 million middle-class families more than $2,000 every
year.” (John McCain. Speech: Carnegie Mellon University, Pittsburgh. April 15, 2008)
Senator
McCain has also said he will lower Medicare premiums for seniors in order to
increase their Social Security and retirement savings. (Press Release: John McCain’s Economic Plan, April 15, 2008)
Jobs
Senator
McCain proposes reforming the unemployment insurance (UI) system by allowing
workers the flexibility to use part of their UI funds to pay for training at a
community college and use the remainder for health insurance. McCain also
pledged to provide assistance for older workers in particular, saying he would “[reform]
from top to bottom unemployment insurance and retraining programs that were
designed for the 1950s, making use of our community colleges to train people
for new opportunities will help workers who've lost a job that won't come back,
find a job that won't go away.” (John McCain. Speech: New Orleans, La. June 3, 2008)
Senator
McCain has also been supportive of a free trade policy explaining that opening
new markets for American goods and services is crucial for the nation’s
economic security and will help create new jobs. (John McCain. Speech: New Orleans, La June 3, 2008)
Another
key component to American job security, according to the McCain campaign, is a
significant decrease to the corporate tax rate.
McCain proposes lowering the tax rate for corporations from 35 to 25
percent. (Jobs for America: The McCain Economic Plan (pdf), page 6)
Health Care
The
McCain health care plan seeks to reduce the cost of health care by providing
every American family with a $5,000 refundable tax credit for health insurance,
thereby allowing American families to choose their own coverage according to
their needs. Under this plan, individuals will receive $2,500. McCain, who
opposes government mandates for health insurance coverage, said "I believe
we can make health care more available, affordable and responsive to patients
by breaking from inflationary practices, insurance regulations, and tax
policies that were designed generations ago, and by giving families more
choices over their care. [Senator Obama’s] plan represents the old ways of
government. Mine trusts in the common sense of the American people.” (John
McCain. Speech: New Orleans, LA. June 3, 2008)
Rural Poverty
In
his speech in Inez, KY, Senator McCain presented his “People
Connect Program” – a plan to bring broadband internet access to rural,
low-income communities by offering tax breaks to companies willing to provide
the service. Calling it the “People
Connect Program,” McCain said the plan “rewards
companies that offer high-speed Internet access services to underserved,
low-income customers by allowing these companies to write off the cost of this
service. The government should enlist the help of private/public partnerships
to devise creative and successful solutions to the lack of access to information
technology.” (John McCain. Speech: Inez, Ky. April 23, 2008)
Education
Senator
McCain supports initiatives such as Washington
D.C.’s Opportunity Scholarship program, which provides school vouchers to
low-income families. In a speech at the 99th annual NAACP
conference, he pledged to make “new reforms” to the public school system,
emphasizing that his commitment is shared by “parents in poor neighborhoods
across this nation who want better lives for their children” (John McCain. Speech: NAACP Convention. July 16, 2008)
More
Resources on John McCain’s Positions on Poverty and Economic Opportunity:
- Issue Statements and
Policy Positions:
- Key News Articles and
Analysis:
To view select video clips, click here and go to Candidate Video Statements in the John McCain window.