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| Just the Facts |
| United States Senate |
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An un-spun look at the policies of national and state politicians.
PRESIDENTIAL ELECTION
EDUCATION: Barack Obama (BO): Wants to invest additional funds in early childhood education, increase spending on after-school programs to reduce drop-outs, increase teachers’ salaries, recruit top talent in math and science. He’s against vouchers as a means of improving test scores and the quality of education. He would provide additional incentives to college students who serve the country, provide each student who commits 100 hours of community service $4,000 towards their degree program and provide them with a free community college education. John McCain (JM): He believes that the $25 billion already invested in school programs is ample, but it needs to be better coordinated and leveraged. He supports vouchers to private or charter schools as a means of generating market competition that could stir innovative approaches to teaching and higher salaries, and empower parents.
HEALTHCARE: BO: Prescription drugs: Lower the cost of prescription drugs. He has supported efforts to allow American seniors to purchase prescription drugs in Canada and bring them back to the US He also has supported giving Medicare the ability to negotiate lower drug prices. Insurance: All Americans should get same affordable coverage that Congress receives: comprehensive benefits; affordable premiums; guaranteed coverage for adults, and required coverage for children with the option of state-funded insurance. Payroll tax for employers offering a nominal contribution to health coverage, monies would go toward a national plan, small businesses will be exempt from this requirement, and would receive a new Small Business Health Tax Credit that helps reduce health care costs for small businesses. JM: Prescription Drugs: Bring greater competition in drug markets through safe re-importation of drugs and faster introduction of generic drugs. Insurance: Refundable tax credit of $2500 for individuals and $5000 for families to offset costs of insurance of their choice, with any remainder added into a Health Savings Account. Make health insurance available across state lines. Elder Healthcare: Monthly stipend for purposes such as hiring aides and purchasing care-related services and goods. Keep in action two programs that are already in existence: Cash and Counseling or the Program of All-Inclusive Care for the Elderly (PACE).
SOCIAL SECURITY: BO: Opposes Social Security privatization; favors bi-partisan plan phased in over many years that would ask those making over $250,000 to pay in the range of two-to-four percent more in total (combined employer and employee) towards Social Security. JM: Among his objectives, he wants to restructure the system so that American youths are no longer paying for current retirees’ benefits. He is for keeping “everything on the table” to improve the system, including payroll tax increases and Social Security taxes on those earning more than $250,000. He said he is also for “no new taxes.”
BUSINESS AND LABOR: BO: Cut taxes for 95 percent of all working families; no tax breaks for those businesses that outsource; eliminate capital gains tax. He supports windfall tax, which would be collected from businesses that experience above-average profits such as commodity-based companies, primarily oil companies, and monies would then be reinvested into social programs. JM: Opposes windfall tax as a means of enabling oil companies to keep their profits and encourage further innovation in the industry. He believes individual states decide on own minimum wage and supported legislation in 2007 that allows employers to pay less than the federal minimum wage if the state’s minimum wages are less.
IMMIGRATION: BO: Bolster systematic employment verification, crack down on those businesses that employee illegal Immigrants; offer immigrant troops serving America expedited citizenship; look at the root cause of immigration and work with Mexico to promote economic development. JM: Bolster systematic employment verification, work with the Department of Labor to audit possible employers abusing the system, work with the Department of Homeland Security to prosecute employers who have hired illegal immigrants.
FINANCIAL MARKETS: BO: Provide $1000 to middle class families to begin economic restoration from the bottom up; develop new private sector regulations, create a mandate for banks to subsidize bad borrows to protect homeowners and the economy, develop a “globally coordinated effort” to improve the failing economy. Provide Treasury and the Federal Reserve with broad authority to stabilize markets and maintain credit. JM: Against government bail-out, but in cases where companies seek taxpayer bailout, the Treasury Department would follow consistent policies in determining whether or not to guarantee the loans. Federal Reserve should re-focus its efforts back to managing money supply and protecting strength of US dollar. Advocated for policies, such as the Gramm-Leach-Bliley Act in 1999 (which repealed part of the Glass-Steagall Act), which opened up competition among banks, securities companies and insurance companies; by allowing banks to offer insurance services. Previously, this was prohibited under the Glass-Steagall Act.
ENERGY AND ENVIRONMENT: BO: Sell 70 million barrels from reserve; establish one million plug-in hybrids or electric vehicles in US by 2015 as part of a $150 billion investment in environmentally-friendly technology; $7000 tax credit for buyers of plug-in hybrids or electric cars; require all new vehicles to run on ethanol or fuel other than petroleum by 2012, and end Middle East oil dependency by 2018. Against offshore drilling. JM: Further oil exploration on US coasts; 45 new nuclear reactors by 2030 with federal aid to reduce reliance on oil imports and create domestic jobs; federal support for cleaner coal plans; $300 million prize for full commercial development of battery plug-in hybrid or fully electric vehicles; national strategy to combat global warming and end US dependence on foreign oil; mandates for vehicles to run on ethanol or alternative fuel by 2012. Against tapping into strategic petroleum reserves. Against requiring utilities to generate power from wind and solar and opposes tax credits for companies that generate power from those sources. Supports offshore drilling.
