At a glance, the following were among Democratic presidential candidate Barack Obama's 2008 campaign promises to repair the U.S. economy for middle-class Americans.
(Also see a quick-reading SUMMARY of Obama's 12-Point Plan to Repair the U.S. Economy.)
- Provide Middle Class Americans Tax Relief
- Technology, Innovation and Creating Jobs Labor
- Change U.S. Trade Practices
- Protect Homeownership and Crack Down on Mortgage Fraud
- Address Predatory Credit Card Practices
- Reform Bankruptcy Laws
- Expand Help for the Work/Family Balance
Provide a Tax Cut for Working Families: Obama will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. The "Making Work Pay" tax credit will completely eliminate income taxes for 10 million Americans.
Simplify Tax Filings for Middle Class Americans: Obama will dramatically simplify tax filings so that millions of Americans will be able to do their taxes in less than five minutes. Obama will ensure that the IRS uses the information it already gets from banks and employers to give taxpayers the option of pre-filled tax forms to verify, sign and return.
Experts estimate that the Obama proposal will save Americans up to 200 million total hours of work and aggravation and up to $2 billion in tax preparer fees.
Technology, Innovation and Creating Jobs
Support Job Creation: Barack Obama believes we need to double federal funding for basic research and make the research and development tax credit permanent to help create high-paying, secure jobs.
Obama will also make long-term investments in education, training, and workforce development so that Americans can leverage our strengths - our ingenuity and entrepreneurialism - to create new high-wage jobs and prosper in a world economy.
Invest in U.S. Manufacturing: The Obama comprehensive energy independence and climate change plan will invest in America's highly-skilled manufacturing workforce and manufacturing centers to ensure that American workers have the skills and tools they need to pioneer the first wave of green technologies that will be in high demand throughout the world.
Obama will also provide assistance to the domestic auto industry to ensure that new fuel-efficient vehicles are built by American workers.
Create New Job Training Programs for Clean Technologies: The Obama plan will increase funding for federal workforce training programs and direct these programs to incorporate green technologies training, such as advanced manufacturing and weatherization training, into their efforts to help Americans find and retain stable, high-paying jobs.
Obama will also create an energy-focused youth jobs program to invest in disconnected and disadvantaged youth.
Boost the Renewable Energy Sector and Create New Jobs: The Obama plan will create new federal policies, and expand existing ones, that have been proven to create new American jobs.
Obama will create a federal Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable sources by 2025, which has the potential to create hundreds of thousands of new jobs on its own.
Obama will also extend the Production Tax Credit, a credit used successfully by American farmers and investors to increase renewable energy production and create new local jobs.
Deploy Next-Generation Broadband: Obama believes we can get broadband to every community in America through a combination of reform of the Universal Service Fund, better use of the nation's wireless spectrum, promotion of next-generation facilities, technologies and applications, and new tax and loan incentives.
Protect the Openness of the Internet: Obama supports the basic principle that network providers should not be allowed to charge fees to privilege the content or applications of some web sites and Internet applications over others.
This principle will ensure that the new competitors, especially small or nonprofit speakers, have the same opportunity as big companies to innovate and reach large audiences.
Invest in Rural Areas: Obama will invest in rural small businesses and fight to expand high-speed Internet access. He will improve rural schools and attract more doctors to rural areas.
(Also see Barack Obama's Plan for Financial Markets Reform, which includes college affordability, health care and Social Security.)