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Oct 14, 2008 11:00 am US/Eastern

McCain: Eliminate Taxes On Unemployment Benefits

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Timeline: U.S. Credit Crunch & Financial Failures

BLUE BELL, Pa. (AP) ― Republican presidential candidate John McCain is proposing that the government eliminate taxes on unemployment benefits.

That's one part of an economic plan the Arizona senator is announcing Tuesday during a campaign swing in Pennsylvania.

McCain also is proposing that taxes be lowered on seniors when they tap their retirement accounts, and he's pushing for an acceleration of the tax write-off for people who are forced to sell at a loss in the current market.

McCain also wants to see capital gains taxes lowered for 2009 and 2010 as an incentive to save and invest.

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