African Americanfamilies in this election - John McCain showed last night
that he is intent oncontinuing the economic policies that just this year
have caused the AfricanAmerican unemployment rate to jump to 10.6%. Over
the past year, AfricanAmerican unemployment has shot up by 2.9 percentage
points -the largest oneyear increase in 24 years. John McCain may believe
that the fundamentals of oureconomy are 'strong,' but African American
families are working harder andharder for less, with incomes down $1,800
since George Bush took office.
JohnMcCain's answer is more of the same: $200 billion in tax cuts to big
corporationsand oil companies, and not one dime of tax relief to more than
100 millionmiddle-class families. If I am President, I will cut taxes for
95% of allworking families and provide an immediate $50 billion to
struggling states sothat they don't have to cut back on health care and
education and can rebuildroads and schools. That's the change working
families need right now," saidSenator Barack Obama.
Senator Obama's Emergency Economic Plan includes:
Cut taxes for 95 percent of working families - by $500 for
anindividual and $1,000 for a married couple. Barack Obama supports a set
of middle classtax cuts including a "Making Work Pay" credit that would
provide $500 for anindividual or $1,000 for a married couple - a benefit
for 95 percent of workersand their families. Given the pressing situation
in the economy today he wouldlike the first round of checks to be delivered
as quickly as possible to helpfamilies cope with the rising price of
gasoline, food and other necessities.
$25 billion in a State Growth Fund to prevent state and
localcuts in health, education and housing assistance or counterproductive
increasesin property taxes, tolls or fees. The fund will also ensure
sufficient funding forhome heating and weatherization assistance as we move
into the fall and wintermonths.
$25 billion in a Jobs and Growth Fund to replenish the
highwaytrust fund; prevent cutbacks in road and bridge maintenance and fund
new,fast-tracked projects to repair schools - all to save more than 1
millionjobs in danger of being cut.