Sen. John McCain (Ariz.), campaigning in South Carolina for the Republican presidential nomination, unveiled on Thursday a “conservative” stimulus plan that stresses business tax breaks.
“Now is the time to act to stimulate our economy,” McCain said in Columbia. “I offer a genuinely conservative, pro-growth plan to provide much-needed stimulus to our economy, creating more prosperity and opportunity for American families.”
McCain sought to differentiate himself from his Democratic opponents, saying that his plan “will cut taxes, spur investment and innovation, and make American business more competitive in the global marketplace.”
The senator proposed lowering the corporate tax rate by 10 percentage points to 25 percent, arguing that this would increase U.S. competitiveness, help grow the economy and create jobs.
With a string of bad economic news, the issue is taking center stage on the campaign trail and in Washington. Democrats and Republicans both agree that an economic stimulus is needed.
McCain also proposed policies that would boost investment in equipment and technology and a tax credit aimed at increasing research and development.
Click Here for The Hill's Denver `08 Convention Website