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WASHINGTON, Oct. 10 (Xinhua) -- Amid deepening financial crisis, both presidential candidates laid out new economic proposals Friday to attract economy-weary voters.
Campaigning in Ohio, Democratic senator Barack Obama unveiled a plan to help rescue small-business owners struggling to stay afloat in the sinking economy.
He called for a program of loans for small businesses made through either the federal Small Business Administration (SBA)'s Disaster Loan Program or by private lenders.
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US Democratic presidential nominee Senator Barack Obama (D-IL) speaks at a campaign rally at the Ross County Courthouse in Chillicothe, Ohio, October 10, 2008. |
The private loans also would be guaranteed by the SBA, Obama said.
The plan also would eliminate all capital gains taxes for small businesses and start-ups.
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U.S. Republican presidential nominee Senator John McCain (R-AZ) speaks during a rally in Mosinee, Wisconsin October 9, 2008 |
"We must also protect investors -- especially those relying on their investments for retirement," he said.
It is McCain's second major economic proposal of the week.
He had said in his second debate with Obama on Oct. 7 that he would buy bad mortgages and help homeowners refinance into more affordable loans.
However, polls show that the impact of financial crisis has tilted the balance of the presidential race toward Obama, who has maintained a 6 percent to 7 percent lead over McCain since the crisis started