McCain Expected to Propose Gas Tax Suspension, Spending Pause, Tax Cuts

John McCain is expected to propose, in an economic address scheduled for this morning in Pittsburgh, that the federal government suspend gasoline taxes for the summer, stop discretionary spending for one year to evaluate programs, and double the tax exemption for dependents.

The proposals were outlined in a release sent out by McCain's campaign ahead of the speech. According to the release, McCain wants to suspend the 18.4 cent gasoline tax from Memorial Day to Labor Day, double the tax exemption for dependents from $3,500 to $7,00, and stop discretionary spending on programs other than "essential military and veterans programs." The spending pause would not include entitlement programs such as Medicare and Social Security, for which spending is mandatory.

More in News

McCain calls for 'reassessment' of Afghan pullout

Read more »