PITTSBURGH—John McCain wants the federal government to
free people from paying gasoline taxes this summer and ensure that
college students can secure loans this fall, a pair of proposals aimed
at stemming pain from the country's troubled economy.
At
the same time, the certain Republican presidential nominee says
Democratic rivals Barack Obama and Hillary Rodham Clinton would impose
the single largest tax increase since World War II by allowing tax cuts
pushed to passage by President Bush to expire.
Among other proposals, McCain said he would:
--Raise the tax exemption for each dependent child from $3,500 to $7,000.
--Require
more affluent people -- couples making more than $160,000 -- enrolled
in Medicare to pay a higher premium for their prescription drugs than
less-wealthy people.
--Offer people the option of choosing a
simpler tax system with two tax rates and a standard deduction instead
of sticking with the current system.
--Suspend for one year all
increases in discretionary spending for agencies other than those that
cover the military and veterans while launching an expansive review of
the effectiveness of federal program.