Obama For President - Economic Plan to Provide Real Relief for NH Families

MANCESTER, NH— Today, the Bureau of Labor Statistics reported that the unemployment rate in New Hampshire jumped to 4%, the fifth straight month of unemployment rate increases or stagnation. This new data is just the latest confirmation that our economy is failing New Hampshire’s families, and that we need to change course from the Bush economic policies that John McCain is intent on continuing. With the price of gas over $4.10 a gallon nationally, the cost of health insurance rising, and national job losses mounting for six straight months and totaling 438,000 since January, America’s working families need real relief.

“Barack Obama will offer change and real solutions for working middle class families while John McCain offers more of the same failed policies of the Bush administration that has led to record gas prices, soaring food costs, subsidies for oil and gas companies, tax breaks for millionaires and billionaires, and higher unemployment,” Rep. Paul Hodes said. “These numbers show why we need a change in the White House to a new leader who will stand up for working middle class families and Barack Obama is that leader.”

The Obama economic plan would reverse the economic contraction in New Hampshire, stimulate job growth, and relieve the burden on working families. The Obama plan would:

Enact an immediate economic stimulus plan that would provide New Hampshire’s economy with over $218 million dollars in immediate assistance to help families and jumpstart job growth.  Provide 800,000 New Hampshire workers with a Making Work Pay tax cut of $500 per worker, and $1,000 per family.

In addition, Senator Obama’s plan will provide new tax cuts to help families afford healthcare, mortgages, college and save for retireIn contrast, Senator John McCain’s economic plan would:

Provide New Hampshire’s economy with $0 in direct fiscal stimulus. Senator McCain has repeatedly refused to join Senator Obama in supporting an additional round of stimulus. Provide $0 in tax relief for 508,000 households in New Hampshire: 70% of New Hampshire’s households would receive no benefit from the McCain tax plan. Even the conservative National Review concludes that the McCain tax plan “offers very little in the way of direct benefits to Americans in the middle of the income scale.”