MILWAUKEE, Wis. — Sen. John McCain comes to Wisconsin tomorrow offering no change from the failed economic policies of President George Bush. Despite the recession, housing and health care crises, McCain supports more tax cuts for the wealthy and corporations, more failed trade policies costing Wisconsin jobs. McCain also proposes a health care plan that taxes benefits and he gives no relief to those facing foreclosures on their homes.
“Workers across Wisconsin have suffered under the policies of George Bush,” said David Newby, President of the Wisconsin AFL-CIO. “But John McCain supports harmful trade policies which send American jobs overseas and fewer rights for working people.”
McCain is making his first visit to Wisconsin since February and the event is closed to the public. McCain is expected to brief the primary beneficiaries, corporate leaders, about his economic plan, which includes an across the board corporate tax cut resulting in $3.8 billion in tax breaks for the five biggest oil companies and nearly $2 billion for health insurers. The Washington Post pointed out McCain’s “proposals together would cost trillions of dollars to implement and add to the growing budget deficits, a fact that (he) did not address in his speech.” [Washington Post, 4/15/08]
“John McCain is completely out of touch with the economic troubles facing families across Wisconsin,” said Ike Edwards, Union Representative of the United Commercial Food Workers, Local 1473. “His plan is to continue the Bush tax cuts which benefit the wealthy and $1.7 trillion in corporate tax cuts paid for by working families.”
Under McCain’s health care plan, which he took from a 2007 Bush proposal, the average family would be forced to pay a tax on their health care benefits for the first time. Under this plan, the average family would have over $7,000 worth of the health care benefit they receive at work taxed as regular income. Currently, employer-based health insurance benefits are not taxed.
“The health care plan John McCain has proposed would not guarantee quality, affordable health care for every American,” said Linda Honold, Executive Director of Citizen Action of Wisconsin. “Shockingly, his plan would tax worker health care benefits, making the health care crisis even worse.”
McCain has admitted he “doesn’t really understand economics” and it shows in his failure to call for real relief for the four million Americans unable to pay their mortgages. McCain has proposed less regulation for financial institutions that created the crisis.
“McCain offers no solutions to families who are facing the loss of their homes and wants less regulation of lending institutions,” said Carolyn Castore, ACORN Wisconsin Political Director. “McCain, like Bush, is happy to give a wink and a nod to the predatory lenders who have caused so many to suffer.”
Lending institutions should never have been allowed to offer those predatory loans. They have proven they can’t regulate themselves. And now John McCain wants to give them more leeway to further damage the economy.”
The McCain event will not include the opportunity for people hurting under the Bush-McCain economic policies to address the needs of Wisconsin families.
“Wisconsin has already heard about McCain’s plans the first time, when they came from George Bush,” said Scot Ross, Executive Director of One Wisconsin Now. “It’s been a disaster and Wisconsin has no interest in watching the McCain sequel.”
Following tomorrow’s invite-only event, several Wisconsin leaders will be hosting a conference call offering a further rebuttal to the failed McCain economic plan.