McCain pushes extension of tax cuts as economic stimulator

Sen. John McCain (R-Ariz.) on Sunday led the GOP charge for extending the Bush administration's tax cuts aimed at the wealthy, arguing that doing so will stimulate the economy.

 

McCain, who just survived a primary challenge by former Rep. J.D. Hayworth, said he endorsed the idea of a payroll tax holiday that President Obama is reportedly considering. But McCain also said the country needs the "certainty" of knowing the Bush tax cuts won't expire.

 

"Then maybe the American people will have some confidence," McCain said on "Fox News Sunday." "The American people have lost confidence in this administration's ability and this president's ability to get this economy going again... You can argue about jobs created, jobs saved, but the fact is that when they passed the stimulus package, they said unemployment would be a maximum of 8 percent. It's now 9.6 percent. Enough said."

 

The Labor Department on Friday released statistics that showed the national unemployment rate upticked from 9.5 to 9.6 percent July to August.