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:

To view select video clips, click here and go to Candidate Video Statements in the John McCain window.

 

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