Obama has A Rescue Plan for People Like You and Me

He's working on getting a plan to boost you and me and our families.

I like this guy.

Excerpt ABC's Political Punch report "Obama Pitches Middle Class Rescue Plan ":

Taking a break from debate prep in the red state of Ohio, Sen. Barack Obama, D-Ill., this afternoon in Toledo, outlined a new rescue plan for the middle class intended to immediately stabilize the financial system and provide relief to struggling families.

Obama outlined four proposals that can be enacted quickly - and urged Congress to do just that.

“Congress should pass this emergency rescue plan – the rescue plan for Main Street - as soon as possible," Obama said... "If Washington can move quickly to pass a rescue plan for our financial system, there’s no reason we can’t move just as quickly to pass a rescue plan for our middle-class.”

There is a video, which I haven't watched since I assume it goes over the same ground covered by the article which I read, and they don't allow sharing the video on a blog (though you can email it).

Plan includes (Points are all excerpts from article.  Obama's explanations are included in article or see video):

• In the new proposal Obama calls for a temporary tax credit of $3,000 per job for firms that create new jobs in the US over the next two years.

• Second,... Obama called for legislation that would allow families the ability to withdraw 15% of their retirement savings from their IRAs and 401(k)s – up to a maximum $10,000 -- without facing a penalty.

• Third, Obama’s plan would require those companies receiving government aid from the recent $700 billion Troubled Asset Relief Program to bring relief to homeowners by providing a 90-day foreclosure moratorium for homeowners acting in “good faith” to pay their mortgages.
  

• Last, the Obama plan would urge the Federal Reserve and the Treasury Department to establish a facility to lend to state and municipal governments.
  

tags: barack  obama  rescue plan  wallstreet bailout  middle class rescue plan  

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