John McCain has a comprehensive economic plan that will create millions of good American jobs, ensureour nation's energy security, get the government's budget and spending practices in order, and bring relief to American consumers.
IMMEDIATE RELIEF FOR AMERICAN FAMILIES
Gas And Food Prices
John McCain will help Americans hurting from high gasoline and food costs. Americans need relief rightnow from high gas prices. John McCain will act immediately to reduce the pain of high gas prices.
John McCain believes we should send a strong message to world markets. Under his plan, the UnitedStates will be telling oil producing countries and oil speculators that our dependence on foreign oil willcome to an end – and the impact will be lower prices at the pump.
John McCain's policies will increase the value of the dollar and thus reduce the price of oil. In recentyears, the declining value of the dollar has added to the cost of imported oil. This will change.Americans will have a stronger economy, a stronger dollar and greater purchasing power for oil, gasand food.
John McCain believes we should institute a summer gas tax holiday. Hard-working American familiesare suffering from higher gasoline prices. John McCain called on Congress to suspend the 18.4 centfederal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day.o
: Gas Tax Holiday "Of Most Immediate Effect To Consumers."
"Of mostimmediate effect to consumers was his appeal to the U.S. Congress to suspend the 18.4 centfederal gas tax and 24.4 cent diesel tax from Memorial Day at the end of May to Labor Day inearly September."
(Steve Holland, "McCain Proposes Tax Cuts And Lashes Democrats,"
: "A USA TODAY Analysis Showed That McCain's Gas-Tax Proposal CouldSave Motorists $6.8 Billion In Taxes During The Summer."
(Kathy Kiely, "Gas-Tax Holiday AmongMcCain's Plans For Economy,"
John McCain will repeal the 54 cents per gallon tax on imported sugar-based ethanol, increasingcompetition, and lowering prices of gasoline at the pump.
John McCain will roll back corn-based ethanol mandates, which are contributing to the rising cost of food.
John McCain believes there is nothing more important than keeping alive the American dream of owninga home. Priority number one is to keep well-meaning, deserving home owners who are facing foreclosurein their homes.John McCain's approach to helping sub-prime or other financially strapped mortgage borrowers is built onsound principles:
No taxpayer money should bail out real estate speculators or financial market participants who failedto perform due diligence in assessing credit risks. Any assistance for borrowers should be focusedsolely on homeowners and any government assistance to the banking system should be based solelyon preventing systemic risk.
Any policy of financial assistance should be accompanied by reforms that promote greater transparency and accountability to ensure we never face this problem again.2