BARACK OBAMA: BUILDING AN ECONOMY THAT WORKS FOR ALL

Barack Obama says working families’ current economic hardships were not “inevitable.” Th ey resulted from irresponsible economic policies by the Bush administration that gave tax breaks to the rich while cutting working family priorities. Obama is committed to putting fairness and opportunity for working families back in America’s economy.

Obama Proposed $10 Billion to Help Homeowners Refinance Mortgages. “Obama pledged $10 billion to increase pre-foreclosure counseling and help ‘responsible homeowners’ refinance their mortgages or sell their homes.” (Boston Globe, 1/14/08)

Obama Would Create Mortgage Credit to Help Struggling Families. Obama proposes a “10 percent universal mortgage credit to provide homeowners who do not itemize tax relief. This credit will provide an average of $500 to 10 million homeowners, the majority of whom earn less than $50,000 per year.” (Obama for America )

Obama Voted Twice Against Bush Tax Cuts for the Wealthy. Obama voted against tax cuts of $60 billion and $70 billion that would be paid for by huge cuts to programs vital to working families. Three-quarters of the benefits would go to families making $100,000 or more a year. (S. 2020, Vote 347, 11/18/05; H.R. 4297, Vote 118, 5/11/06)

Obama Voted Against $50 Billion in Spending Cuts for Vital Working Family Programs. Obama voted against $50 billion in spending cuts for programs vital for working families. The cuts included $39.7 billion for Medicaid, Medicare, student aid and child-support enforcement. (S. 1932, Vote 363, 12/21/05)