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OBAMA PROPOSALS
JUMPSTARTING THE ECONOMY
* Enact windfall profits tax on excessive oil company profits to give families an immediate $1,000 emergency energy rebate to help pay rising bills.
* Establish $25 billion state growth fund to prevent state and local cuts and $25 billion in a jobs and growth fund to prevent cutbacks in road and bridge maintenance and fund school repair.
TAX RELIEF
* Temporarily extend an expiring tax break to let small businesses write off the cost of many new investments immediately, rather than over several years.
* Create "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family.
* Eliminate all income taxation on seniors making less than $50,000 per year for an average savings of $1,400.
JOB CREATION
* Create 5 million new green jobs by investing $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure including acceleration of plug-in hybrids.
COMPILED BY NEWS RESEARCHER LAMARA WILLIAMS. SOURCES: BARACKOBAMA.COM, JOHN-MCCAIN.COM, THE ASSOCIATED PRESS
McCAIN PROPOSALS
JUMPSTARTING THE ECONOMY
* Pass legislation suspending a requirement that investors age 70 1/2 begin to liquidate their retirement accounts.
* Have the government buy bad home-loan mortgages and renegotiate them at a reduced price.
* Repeal the 54-cents-per-gallon tax on imported sugar-based ethanol, increasing competition and lowering prices of gasoline at the pump.
* Roll back corn-based ethanol mandates, which are contributing to the rising cost of food.
TAX RELIEF
* Keep the top tax rate at 35 percent and maintain the 15 percent rates on dividends and capital gains; phase out the Alternative Minimum Tax.
* Cut the corporate tax rate from 35 percent to 25 percent.
* Allow first-year deduction, or "expensing," of equipment and technology investments.
* Establish permanent tax credit equal to 10 percent of wages spent on research and development.
JOB CREATION
* Build 45 new nuclear power plants by 2030, creating roughly 700,000 jobs.
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