DNC - Senator McCain Watch: The Fine Print on McCains Jobs For America Plan

Profits for Corporations before Jobs for America

Washington, DC - This week the McCain campaign has been pushing McCain's "Jobs for America" plan through conference calls and interviews. At yesterday's town hall in Nevada, McCain went out of his way to talk about American jobs and small businesses. But there are a few facts about the negative effects of McCain's same-as-Bush economic policies on small businesses and working Americans that McCain and his surrogates have been omitting on the campaign trail. McCain has a long record of opposing policies that would help small businesses and working Americans.

In Colorado and Missouri today, McCain won't mention that NAFTA, an agreement he's long supported, has displaced more than a million jobs so far - including more than 13,000 from Colorado and 18,000 from Missouri. As he pays lip service to economic security for working Americans, he'll pass over his long record of opposing legislation to provide assistance and retraining to Americans whose jobs have gone overseas.

When McCain brings up energy policy, expect him to leave out the fact that his gas tax plan would divert billions in funding for American jobs from the Highway Trust Fund into the pockets of Big Oil - at a cost of more than 3,000 jobs in Colorado and nearly 3,000 jobs in Missouri alone. And it's a sure bet that McCain will skip over his history of voting against legislation that would create new energy jobs.

McCain has been behind Bush every step of the way on economic policies that have caused six straight months of job losses so far this year -- that's 435,000 American jobs. Even as he talks about promoting economic growth and job creation, McCain is offering more of the same Bush policies that created the current economic crisis and continue to add to Americans' economic struggles.

McCain's plan offers more of the same failed Bush-McCain economic policies that have hurt small businesses and cost Americans more than a million jobs already. Like Bush, McCain puts profits for corporations before jobs for Americans.

MCCAIN'S BAD RECORD ON SMALL BUSINESS

McCain Opposition to Farm Bill Would Threaten $250 Million in Grants and Loan Guarantees for Renewable Energy, Energy Efficiency Systems for Agriculture and Rural Small Business.  The farm bill "provides $300 million in mandatory funding for payments to support production of advanced biofuels including cellulosic ethanol and biodiesel." There is also "$250 million in grants and loan guarantees for renewable energy and energy efficiency systems for agriculture and rural small businesses." [McCain Prepared Remarks, 5/19/08; Reuters, 5/15/2008]

2003: McCain Voted Against Increasing Small Business Expensing
. McCain voted against Carper-Chafee-Feinstein substitute amendment, which provided immediate tax relief by (1) making 10 percent and 27 percent bracket cuts effective immediately, (2) increasing child tax credit to $700, (3) setting a family exclusion of $6 million from estate taxes, and (4) increasing small business expensing for 2003 and 2004; offsets by deferring additional tax cuts in 35 percent and 38.6 percent brackets; adopts aggregate spending levels in President's budget for discretionary and mandatory spending, except in case of defense spending, where it adopts Senate budget resolution's funding levels; and allocates $76 billion to non-defense discretionary spending (difference between Senate Budget Committee and White House defense spending projections). [2003 Senate Vote #95, 3/25/03]

MCCAIN IS FOR FREE TRADE, AGAINST WORKING AMERICANS

McCain Told Steel Workers in Ohio That Their Jobs Were Not Coming Back.
During a campaign event in Youngstown, Ohio, McCain touted free-trade policies, a member "of the audience asked Sen. McCain what he would do to avoid a collapse like that of the steel mills in the future, he replied, "I can't look you in the eye and tell you that I believe those jobs are coming back."" [Wall Street Journal, 4/23/2008]

McCain Told Michigan Voters That Their Jobs Aren't Coming Back. While campaigning during the primary, McCain told Michigan voters "I've got to give you some straight talk: Some of the jobs that have left the state of Michigan are not coming back… They are not. And I am sorry to tell you that." [Boston Globe, 1/10/2008]

NAFTA Net Displacement Was One Million Workers. A 2006 Economic Policy Institute study found that NAFTA had displaced just over 1 million jobs in this country, including a net job loss of 18,566 in Missouri and net job loss of 13,354 in Colorado. [Scott, Salas & Campbell, Revisiting NAFTA, 9/28/2006; http://www.epi.org/content.cfm/bp173 ]

MCCAIN OPPOSES ASSISTANCE FOR WORKERS WHOSE JOBS MOVE OVERSEAS

2004: McCain Voted Against An Amendment To Provide Assistance, Including Training, To Service And High-Tech Workers Whose Jobs Move Overseas.
McCain voted against an amendment that provides that existing Trade Adjustment Assistance (TAA) benefits be made available to service and high-tech workers; clarifies that TAA benefits are available to workers whose company moves overseas to any other country; increases training funds to match anticipated enrollment; increases health care subsidy available to TAA beneficiaries from 65 percent to 75 percent; and provides economic adjustment plan assistance to communities that have significant trade-related layoffs. [2004 Senate Vote #80, 5/4/2004]

2002: McCain Voted Against Community College Training Programs For Trade Displaced Workers.
McCain voted against an amendment that would outline additional trade negotiating objectives regarding textiles and establish an emergency assistance grant program for community colleges that provide training programs for displaced or endangered workers, and to allow community colleges to expand and create new retraining programs customized to immediate needs of communities. [2002 Senate Vote #111, 5/15/2002]

1995: McCain Voted Against Job-Retraining For Workers Displaced By International Trade Agreements.
McCain voted against an amendment to maintain the worker retraining assistance part of the Trade Adjustment Assistance program, which provides job retraining for workers laid off as a direct result of an international trade program such as NAFTA. [1995 Senate Vote #482, 10/10/1995]

MCCAIN VOTES AGAINST JOB CREATION


Recent Study Concluded More than 116,000 Jobs Could be Lost If the Tax Credit is Not Extended
. A 2008 economic study by Navigant Consulting found that "over 116,000 U.S.jobs and nearly $19 billion in U.S.investment could be lost in just one year if renewable energy tax credits are not renewed by Congress… The study concluded that over 76,000 jobs are put at risk in the wind industry, and approximately 40,000 jobs in the solar industry." [Forbes, 12/13/07]

2006: McCain Voted Against Extending The Renewable Energy Production Tax Credit And Over $290 For Renewable Energy Research
. McCain voted against an amendment to extend the renewable energy production tax credit and clean renewable energy bonds programs for four years including $290 million for renewable energy R&D on Solar, wind, geothermal, biomass, hydropower. Obama: Y, McCain: N [2006 Senate Vote #42, 3/14/2006]

MCCAIN BRINGS FAILED BUSH-MCCAIN POLICIES TO COLORADO

Unemployed Up 140%.
The number of unemployed workers in Colorado has increased by 140% under President Bush. The number of unemployed has gone up from 58, 211 in January of 2001 and preliminary figures for June of 2008 are 139,716, an increase of 81,505  workers, or 140%. The unemployment rate similarly increased from 2 .5% to 5.1%.  [Local Area Unemployed Statistics, (Seasonally Adjusted), Bureau of Labor Statistics, accessed 7/20/08, data.bls.gov

Income Down 6.1%. 
Median household income in Colorado decreased from $57,376 in 2000 to $53,900 in 2006, a loss of $3,476 per household. [Joint Economic Committee Fact Sheet, 8/29/07, (Bureau of the Census, U.S. Department of Commerce), jec.senate.gov]

Gas Tax "Holiday" Would Cost Colorado More than 3,000 Jobs. A state-by-state projection of highway-related job losses from a 90-day suspension of federal gasoline and diesel fuel taxes shows Colorado would lose 3,351 jobs over the course of three to four years. [Boston Globe, 7/19/08]

MCCAIN BRINGS FAILED BUSH-MCCAIN POLICIES TO MISSOURI

Unemployed Up 35%
. The number of unemployed workers in Missouri has increased by 35% under President Bush. The number of unemployed has gone up from 126,463 in January of 2001 and preliminary figures for June of 2008 are 170,904, an increase of 44,441 workers, or 35%. The unemployment rate similarly increased from 4.2% to 5.7%.  [Local Area Unemployed Statistics, (Seasonally Adjusted), Bureau of Labor Statistics, accessed 7/24/08, data.bls.gov]

Income Down DRASTICALLY by 13.5%.
  Median household income in Missouri has decreased drastically from $51,427 in 2000 to $44,487 in 2006, a decrease of $6,940 per household--the highest decrease (13.5%) of any state.   [Joint Economic Committee Fact Sheet, 8/29/07, (Bureau of the Census, U.S. Department of Commerce), jec.senate.gov

Gas Tax "Holiday" Would Cost Missouri Almost 3,000 Jobs. A state-by-state projection of highway-related job losses from a 90-day suspension of federal gasoline and diesel fuel taxes shows Colorado would lose 2,952 jobs over the course of three to four years. [Boston Globe, 7/19/08]