McCain offers plan to help Americans through crisis

Republican presidential candidate John McCainJohn Sidney McCainPublisher announces McSally book planned for May release Democrats lead Trump by wide margins in Minnesota Here's what to watch this week on impeachment MORE on Tuesday unveiled his plan to help Americans weather the economic crisis.

The Arizona senator is seeking to portray himself as the only steady leader in the race who is able to steer the country through the troubled times, arguing that Democratic rival Barack ObamaBarack Hussein ObamaUK judge denies Assange bid to delay extradition hearing Trump's eye-opening scorecard on border security Why Americans should look at the Middle East through the eyes of its youth MORE would raise taxes and hurt the economy.

“What he promises today is the opposite of what he has done his entire career,” McCain said in Blue Bell, Pa. “Perhaps never before in history have the American people been asked to risk so much based on so little.”

McCain has fallen behind in national polls and in battleground states since the onset of the crisis and hopes showing leadership on the issue will make up ground in the three weeks remaining. On Tuesday, he promised “swift and bold action to lead this country in a new direction.”

Specifically, McCain proposes to protect Americans by helping them refinance troubled mortgages, guarantee all savings accounts for six months and help seniors by not requiring them to begin selling off their IRAs and 401(k)s.

In addition, McCain wants to cut the capital gains tax on stocks held for more than a year from 15 percent to 7.5 percent.

“This vital measure will promote buying, raise asset values, help companies and shore up the pension plans for workers and retirees,” he stated.

Seeking to counteract McCain’s proposal, Sen. Obama’s (Ill.) campaign released a memo saying that the GOP nominee has been “erratic” in handling the crisis.