Organizing for America | Sam Graham-Felsen's Blog: Where Obama Stands: On the Economy

Where Obama Stands: On the Economy

By Sam Graham-Felsen - Jan 13th, 2008 at 6:50 pm EST

Comments | Mail to a Friend | Report Objectionable Content

Tags: economy

"Where Obama Stands" is a series of posts highlighting Obama's innovative approaches to challenge the status quo and get results on the issues that matter most to Americans. For a full list of Senator Obama's detailed policy positions, check out BarackObama.com/issues and/or download Obama's complete booklet of policy positions, "The Blueprint for Change." We are also looking for your feedback and suggestions on the issues; if you want to share your ideas, please submit your thoughts through our MyPolicy page.

Plan to Strengthen the Economy

“I believe that America’s free market has been the engine of America’s great progress. It’s created a prosperity that is the envy of the world. It’s led to a standard of living unmatched in history. And it has provided great rewards to the innovators and risk-takers who have made America a beacon for science, and technology, and discovery…We are all in this together. From CEOs to shareholders, from financiers to factory workers, we all have a stake in each other’s success because the more Americans prosper, the more America prospers.”

— Barack Obama, New York, NY, September 17, 2007

Barack Obama's Plan

As president, Barack Obama will implement a 21st century economic agenda to help ensure that America can compete in a global economy, and ensure the middle class is thriving and growing. He will increase investments in infrastructure, energy independence, education, and research and development; modernize and simplify our tax code so it provides greater opportunity and relief to more Americans; and implement trade policies that benefit American workers and increase the export of American goods.

Tax Fairness for the Middle Class

Provide a “Making Work Pay” Tax Cut for America's Working Families: The American people work longer and harder than those in any other wealthy nation in the world. But their hours are getting longer and their wages aren't getting any higher. In addition they are being squeezed by rising health care, education and energy costs. Rather than relieving the burden on working families, the current administration has provided tax cut after tax cut to the wealthiest Americans and enacted tax breaks for the most well-connected corporations. Barack Obama will restore fairness to the tax code and provide 150 million workers the tax relief they deserve. Obama will create a new “Making Work Pay” tax credit of up to $500 per person, or $1,000 per working family. This refundable income tax credit will provide direct relief to American families who face the regressive payroll tax system. It will offset the payroll tax on the first $8,100 of their earnings while still preserving the important principle of a dedicated revenue source for Social Security. The “Making Work Pay” tax credit will completely eliminate income taxes for 10 million Americans. The tax credit will also provide relief to self-employed small business owners who struggle to pay both the employee and employer portion of the payroll tax. The “Making Work Pay” tax credit offsets some of this self-employment tax as well.

Create a Universal Mortgage Credit: Owning a home is the culmination of the American dream for so many Americans. The tax code is supposed to encourage home ownership with a mortgage interest deduction, but it goes only to people who itemize their tax deductions. Like so much in our tax code, this tilts the scales toward the well-off. The current mortgage interest deduction excludes nearly two-thirds of Americans who do not itemize their taxes. Barack Obama will ensure that anyone with a mortgage, not just the well-off, can take advantage of this tax incentive for homeownership by creating a universal mortgage credit. This 10 percent credit will benefit an additional 10 million homeowners, the majority of whom earn less than $50,000 per year. Non-itemizers will be eligible for this refundable credit, which will provide the average recipient with approximately $500 per year in tax savings. This tax credit will also help homeowners deal with the uncertain state of the housing market today.

Expand the Earned Income Tax Credit: In the Illinois State Senate, Obama led the successful effort to create the $100 million Illinois Earned Income Tax Credit (EITC). As president, Obama will reward work by increasing the number of working parents eligible for EITC benefits, increasing the benefit available to parents who support their children through child support payments, increasing the benefit for families with three or more children and reducing the EITC marriage penalty which hurts low-income families. Under the Obama plan, full-time workers making minimum wage would get an EITC benefit up to $555, more than three times greater than the $175 benefit they get today. If the workers are responsibly supporting their children on child support, the Obama plan would give those workers a benefit of $1,110. The Obama plan would also increase the EITC benefit for those families that are most likely to be in poverty &endash; families with three or more children.

Eliminate Income Taxes for Seniors Making Less Than $50,000:
Since the New Deal we’ve had a basic understanding in America: If you work hard and pay into the system, you’ve earned the right to a secure retirement. But too many seniors aren’t getting that security, even though they’ve held up their end of the bargain. Lower and middle income seniors are struggling as their expenses on health and energy skyrocket while their incomes do not keep pace. This strain has been greater since 1993, when taxes on social security benefits were raised. Millions of seniors saw their net benefits go down.

Seniors also had to take on the added strain – and sometimes cost – of filing a complicated tax return. And after going through all of these complicated calculations, many seniors find that they owe little or no tax, meaning that all of the hassle was for naught.

Barack Obama will eliminate all income taxation of seniors making less than $50,000 per year. This will eliminate any income tax for nearly seven million seniors at a savings of roughly $1,400 each year. For many seniors, this will eliminate the need to hire a tax preparer, resulting in even larger savings.
Enable Millions of Americans to Complete Tax Returns in 5 Minutes: The tax code has become too complicated. Too many Americans have to pay for expert advice to fill out long forms and comply with complex requirements. The Internal Revenue Service (IRS) estimated in 2004 that it took more than 28 hours for an individual to complete his/her tax filing, and that half of the taxpayers filing the “easy” forms ended up paying a tax preparer to do it for them. Barack Obama will dramatically simplify tax filings so that millions of Americans will be able to do their taxes in less than 5 minutes. Currently, the IRS receives Americans’ financial information directly from employers and banks. Obama will ensure that the IRS uses this information to give taxpayers the option of a pre-filled tax forms to verify, sign and return to the IRS or online. This will eliminate the need for Americans to hire expensive tax preparers and to gather information that the federal government already has on file. 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.

Create the American Opportunity Tax Credit: Barack Obama will make college affordable for all Americans by creating a new American Opportunity Tax Credit. This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university. And by making the tax credit fully refundable, Obama’s credit will help low-income families that need it the most. Obama will also ensure that the tax credit is available to families at the time of enrollment by using prior year’s tax data to deliver the credit at the time that tuition is due, rather than a year or more later when tax returns are filed.

Expand the Child and Dependent Care Tax Credit: The Child and Dependent Care Tax Credit provides too little relief to families that struggle to afford child care expenses. Currently the credit only covers up to 35 percent of the first $3,000 of child care expenses a family incurs for one child and the first $6,000 for a family with two or more children. And the credit is not refundable, which means that upper-income families disproportionately benefit while families who make under $50,000 a year receive less than a third of the tax credit. Barack Obama will reform the Child and Dependent Care Tax Credit by making it refundable and allowing low-income families to receive up to a 50 percent credit for their child care expenses. Coupled with Obama’s “Making Work Pay” tax credit, this proposal will help put more money directly in the pockets of hardworking low and middle-income parents.

Click on the title of this post for the rest of Obama's plan to strengthen our economy.

Strengthen America’s Workforce

Expand Early Childhood Education: Research shows that half of low-income children start school up to two years behind their peers in preschool skills and that these early achievement gaps continue throughout elementary school. Obama has been a champion of early childhood education since his years in the Illinois legislature, where he led the effort to create the Illinois Early Learning Council. Obama has introduced a comprehensive “Zero to Five” plan to provide critical supports to young children and their parents by investing $10 billion per year to create: Early Learning Challenge Grants to stimulate and help fund state “zero to five” efforts; quadruple the number of eligible children for Early Head Start and increase Head Start funding and improve quality for both; work to ensure all children have access to pre-school; provide affordable and high-quality child care that will promote child development and ease the burden on working families; and create a Presidential Early Learning Council to increase collaboration and program coordination across federal, state, and local levels.

Improve Our Schools: From the moment our children step into a classroom, the single most important factor in determining their achievement is their teacher. Barack Obama values teachers and the central role that they play in education. He will work to ensure competent, effective teachers in schools that are organized for success. Obama’s K-12 plan will expand service scholarships to recruit and prepare teachers who commit to working in underserved districts. To support teachers, Obama will foster ongoing improvements in teacher education, provide mentoring for beginning teachers, create incentives for shared planning and learning time for teachers. To retain teachers, Obama will support career pathways that provide ongoing professional development and reward accomplished teachers for their expertise. This Career Ladder initiative will help eliminate teacher shortages in hard-to-staff areas and subjects, improve teacher retention rates, strengthen teacher preparation programs, improve professional development, and better utilize and reward accomplished teachers.

Produce More Math and Science Graduates: Barack Obama believes we must strengthen math and science education to help develop a skilled workforce and promote innovation. Obama will work to increase our annual number of science and engineering graduates, encourage undergraduates studying math and sciences to pursue graduate studies, and work to increase the representation of minorities and women in the science and technology talent pipeline, tapping the diversity of America to meet the increasing demand for a skilled workforce.

For more information on Barack Obama’s education plan

Strengthen and Enforce International Trade Agreements

Be a Tough Negotiator for Smart Trade Agreements: The process of globalization is bringing millions of people into the global economy, increasing the efficiency of resource allocation through stronger capital markets, raising productivity by putting new technologies to work, and exploiting efficiencies of integrated supply networks. But globalization also leaves some Americans behind as patterns of production change, jobs relocate, and wage pressures intensify. Barack Obama supports trade agreements that lower prices for American consumers while also opening up fair and competitive markets for the sale of American-made goods and services abroad. Obama will ensure that trade agreements include strong labor and environmental protections and that all Americans share the rewards of globalization. As president, he will lead a proactive strategy to make sure that those who lose their jobs to globalization have the tools and resources to find other work and share in the benefits of the global marketplace.

Promote American Businesses Abroad: Trade can create wealth and drive innovation through competition. Barack Obama supports a trade policy that ensures our goods and services are treated fairly in foreign markets. At the same time, trade policy must stay consistent with our commitment to promote improved labor and environmental practices. In its first six years, the Bush Administration has filed only 16 cases to enforce its rights under WTO agreements. This compares to 68 cases filed during the first six years of the Clinton Administration. President Bush has failed to address the fact that China has engaged in ongoing currency manipulation that undercuts US exports; that China fails to enforce US copyrights and trademarks and that some of our competitors create regulatory and tax barriers to the delivery and sale of technology goods and services abroad. Barack Obama will fight for fair treatment of our companies abroad.

Protect American Intellectual Property Abroad: The Motion Picture Association of America estimates that in 2005, more than nine of every 10 DVDs sold in China were illegal copies. The U.S. Trade Representative said 80 percent of all counterfeit products seized at U.S. borders still come from China. Barack Obama will work to ensure intellectual property is protected in foreign markets, and promote greater cooperation on international standards that allow our technologies to compete everywhere.

Improve Transition Assistance: To help all workers adapt to a rapidly changing economy, Barack Obama would update the existing system of trade adjustment assistance by extending it to service industries, creating flexible education accounts that workers could use to retrain, and providing retraining assistance for workers in sectors of the economy vulnerable to dislocation before they lose their jobs.

Support Small Businesses

There are approximately 25.8 million businesses in the United States and 99.7 percent of all employers are small businesses. Barack Obama will help these businesses by cutting their health care costs, improving their access to capital and investing in innovation and development.

Fix our Health Care Crisis for Small Businesses: Nearly 47 million Americans have no health coverage today. Skyrocketing health care costs are making it increasingly difficult for employers, particularly small businesses, to provide health insurance to their employees. Barack Obama’s health care plan will help small businesses that want to cover their employees by letting small firms buy into a new low-cost, high-quality national health plan similar to the one offered to members of Congress. For small businesses, having a single employee with catastrophic expenditures can make insurance unaffordable to all of the workers in the firm. The Obama plan would reimburse employer health plans for a portion of the catastrophic costs they incur above a threshold if they use the savings to reduce the cost of workers’ premiums. It is estimated that Obama’s health plan will save businesses $140 billion annually in insurance premiums.

Reduce the Self-Employment Tax: Obama’s “Making Work Pay” tax credit will also provide relief to self-employed small business owners who struggle to pay both the employee and employer portion of the payroll tax. The tax credit offsets some of this self-employment tax.

Eliminate Capital Gains Taxation on Start-Up Businesses: Obama will also eliminate the capital gains taxation of start-up businesses to encourage innovation and job creation. These provisions, combined with reducing the self-employment tax for small business measures, will ensure that the corporate tax code is not only fair, but also promotes continued economic growth and innovation.

Expand Loan Programs for Small Businesses: Access to capital is a top concern among small business owners. Barack Obama cosponsored the bipartisan Small Business Lending Reauthorization and Improvements Act. This bill expands the Small Business Administration’s loan and micro-loan programs which provide start-up and long-term financing that small firms cannot receive through normal channels. Obama will work to help more entrepreneurs get loans, expand the network of lenders, and simplify the loan approval process.

Invest in American Innovation

Invest in the Sciences: Barack Obama supports doubling federal funding for basic research. As a share of the Gross Domestic Product, American federal investment in the physical sciences and engineering research has dropped by half since 1970. Yet, it often has been federally-supported basic research that has generated the innovation to create markets and drive economic growth. For example, one recent report demonstrated how federally supported research in fiber optics and lasers helped spur the telecommunications revolution.

Make the R&D Tax Credit Permanent: Barack Obama wants investments in a skilled research and development workforce and technology infrastructure to be supported here in America so that American workers and communities will benefit. Obama wants to make the Research and Development tax credit permanent so that firms can rely on it when making decisions to invest in domestic R&D over multi-year timeframes.

Deploy Next-Generation Broadband: Barack Obama believes that America should lead the world in broadband penetration and Internet access. He believes we can get true 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. Full broadband penetration can enhance competition, provide economic growth, and bring significant consumer benefits. Obama has supported Chicago’s citywide wireless broadband initiative and believes national policy should support state, local, and public-private partnerships as well as private efforts to make high speed access to the Internet available to all Americans. As a key step to achieving full broadband access, Obama believes the Federal Communications Commission (FCC) should provide an accurate map of broadband availability using a true definition of broadband instead of the current 200 kbs standard and an assessment of obstacles to fuller broadband penetration.

Promote Digital Inclusion: The lack of affordable, high-speed Internet access in rural, urban, and minority communities has created a digital divide between those who have access to the Internet and those who do not. This severely limits the growth potential of many urban and rural companies. Barack Obama believes we can get true 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 technologies, and new tax and loan incentives.

Address the Subprime Mortgage Issue

Combat Mortgage Fraud and Subprime Loans: The implosion of the subprime lending industry threatens to bring foreclosure to over two million households, including many families with children. Barack Obama has been closely monitoring this situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama’s STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity. This bill also provides counseling to homeowners and tenants to avoid foreclosures. Finally, Obama’s bill requires the Government Accountability Office to evaluate and report to Congress on various state lending practices so that state regulations that undermine consumer’s rights can be identified and hopefully eliminated.

Create Fund to Help Homeowners Avoid Foreclosures:
In addition to taking important steps to prevent mortgage fraud from occurring in the future, Barack Obama will establish policies to help Americans currently facing foreclosure through no fault of their own. For instance, in communities where there are many foreclosures property values of innocent homeowners are often also negatively impacted, driving them toward foreclosure, too.

Obama will create a fund to help people refinance their mortgages and provide comprehensive supports to innocent homeowners. The fund will also assist individuals who purchased homes that are simply too expensive for their income levels by helping to sell their homes. The fund will help offset costs of selling a home, including helping low-income borrowers get additional time and support to pay back any losses from the sale of their home and waiving certain federal, state and local income taxes that result from an individual selling their home to avoid foreclosure. These steps will ensure that individuals who have to sell their homes will be able to quickly regain stable financial footing. The fund will be partially paid for by Obama’s increased penalties on lenders who acted irresponsibly and committed fraud.
Create a Credit Card Rating System to Improve Disclosure:Barack Obama will create a credit card rating system, modeled on five-star systems used for other consumer products, to provide consumers an easily identifiable ranking of credit cards. Under the Obama plan, the Federal Trade Commission (FTC) will assess the degree to which credit cards meet consumer-friendly standards. The FTC will test for a set of credit card features that are deemed the most dangerous for consumers, including the underwriting standards used to issue the card, the card’s interest rate spread between the introductory rate and the maximum rate allowed, and transaction fees. The FTC will assign ratings so that consumers can easily understand if a credit card agreement meets or exceeds standards of safety. Credit card companies will be required to display the rating on all application and contract materials, enabling consumers to quickly understand all of the major provisions of a credit card without having to rely exclusively on fine print in lengthy documents. Credit card companies will also be required to disclose in simplified, clear language all of the major features of the card in addition to their FTC rating to provide consumers with additional information to compare credit card products.

Establish a Credit Card Bill of Rights to Protect Consumers: Credit cards could turn into the next subprime market crisis. In addition to being able to easily understand how risky a given credit card is, every American should have a uniform set of rights while dealing with credit card companies, no matter their financial status or credit history. To protect those rights, Barack Obama will require the Federal Trade Commission to analyze credit card company compliance with these basic rights, and provide the Department of Justice with the full authority to investigate and penalize non-compliant companies. The Obama credit card bill of rights will:
- Ban Unilateral Changes: Currently, credit card companies can unilaterally change the terms of a credit card agreement at any time for any reason with only a 15-day notice to the consumer. Barack Obama will ban these unilateral changes in credit card agreements unless companies have obtained written consent from consumers and have followed the rules and terms of the agreement.
- Apply Interest Rate Increases Only to Future Debt: Credit card companies often apply increased interest rates to both new debt incurred by the cardholder, as well as previously incurred debt. Barack Obama will require increased interest rates to apply only to future credit card debt, and not to debt incurred prior to the increase.
- Prohibit Interest on Fees: Credit card companies often charge interest on transaction fees, such as late fees or paying a bill by telephone. Barack Obama will prohibit credit card issuers from charging interest on transaction fees.
- Prohibit ”Universal Defaults”: ”Universal defaults” are a practice in which a credit card company raises an individual’s interest rate based on failure to pay a different creditor on time. Barack Obama will prohibit this practice.
- Require Prompt and Fair Crediting of Cardholder Payments: Barack Obama will require credit card issuers to apply payments first to the credit card balance with the highest rate of interest and to minimize finance charges.

Level the Playing Field for American Businesses

Make the Corporate Tax Code More Fair and Efficient: The tax code is filled with corporate loopholes and preferential regulations that benefit a handful of companies at the expense of the rest of the business community as well as ordinary people who are hit with higher effective tax rates. Some large companies have managed to secure tax breaks or to hide their profits in overseas tax havens and not pay any American corporate taxes at all. Barack Obama will level the playing field for all businesses by eliminating special interest loopholes and deductions, such as those for the oil and gas industry, as well as by limiting the ability of large multi-national corporations to use tax havens to hide income overseas. He will firmly institutionalize the economic substance doctrine so we can stop companies from creating abusive tax shelters.

Crack Down on Offshore Tax Havens: Obama will also crack down on the offshore tax havens engaged in shielding tax evaders from justice by refusing to share tax information with us the way all other nations do. This costs us tens of billions of dollars every year. Obama will create an International Tax Evasion Watch List to monitor these countries and will use economic pressure to make them comply. And Obama will penalize any company that reports income from tax havens on the list.

Eliminate Taxes on Investments in Start-Ups and Small Businesses: Obama will also eliminate the capital gains taxation of start-up businesses to encourage innovation and job creation. These provisions, combined with reducing the self-employment tax for small business measures, will ensure that the corporate tax code is not only fair, but also promotes continued economic growth and innovation.

Create a Climate that Promotes Business Innovation

Promote a Regulatory Environment that Enhances Competitiveness: It is important that the U.S. have a robust regulatory system that protects consumers and investors without preventing legal and appropriate entrepreneurial activity. Obama will make sure regulation properly addresses these issues.

Ensure Competitive Markets: Barack Obama believes we need a business and regulatory landscape in which entrepreneurs and small businesses can thrive, start-ups can launch, and all enterprises can compete effectively – while investors and consumers are protected against bad actors that cross the line. Obama supports the principles behind Sarbanes-Oxley reforms and believes compliance should not be overly burdensome for smaller firms and start-ups. He believes that, because of the importance of competition to our economy, the government has a crucial role to play in ensuring competitive markets.

Investigate Potential Conflict of Interest between Credit Rating Agencies and Financial Institutions: Credit agencies are paid by the issuers of securities, not by the buyers of securities, which creates a potential conflict of interest in favor of issuing strong securities ratings. This problem was illustrated in the subprime market crisis in which credit rating agencies strongly rated subprime mortgage securities even as there were significant indications of large numbers of foreclosures and a weakening housing market. Barack Obama supports an immediate investigation into the ratings agencies and their relationships to securities’ issuers, similar to the investigation the EU has recently announced.

Protect Intellectual Property at Home: Intellectual property is to the digital age what physical goods were to the industrial age. Barack Obama believes we need to update and reform our copyright and patent systems to promote innovation and investment while ensuring that intellectual property owners are fairly treated. He supports reforming our patent laws and using technology to improve the quality of patents the government approves. Patent reform would promote enhanced scientific research and discourage excessive litigation hindering innovation.

Help Low-Income Workers

Help Low-Income Americans Enter the Job Market: Obama’s commitment to helping low-income workers began early in his life. After college, Obama worked for a church-based group in Chicago to improve living conditions in poor neighborhoods plagued by high unemployment. Obama worked with a group that used charitable grants to assess skills of unemployed workers and help them find jobs. As president, Obama will increase federal investments into transitional jobs, which are a promising way to help chronically unemployed people break into the workplace. This approach places participants into temporary, subsidized wage-paying jobs. It also offers mentoring and social services designed to address the work-blocking problems like personal and family conflicts. Obama also supports funding for bridge programs that partner the federal government with employers and community-based organizations to identify job opportunities, develop customized training programs, and place low-income employees in better jobs. He also supports funding for apprenticeship programs and investments in community college programs that target adults looking to gain new skills.

Create Career Pathways for Workers to Move up the Ladder: Barack Obama believes that all workers who want a job should not only be able to gain meaningful employment, but also be able to move up the career ladder to further support their families and serve as role models for their children. Obama has introduced legislation to help strengthen career ladders by first identifying regions and industries where career pathways are not fully developed and then establish public-private partnerships to lift up low-wage workers. Obama supports using the successful organized labor model of providing workers with additional skills and opportunities, and looks forward to working with organized labor to build more opportunities for low-income workers to reach economic security.

Provide a Living Wage: Barack Obama believes that people who work full time should not live in poverty. Before the Democrats took back Congress, the minimum wage had not changed in 10 years. Even though the minimum wage will rise to $7.25 an hour by 2009, the minimum wage’s real purchasing power will still be below what it was in 1968. As president, Obama would further raise the minimum wage, index it to inflation and increase the Earned Income Tax Credit to make sure that full-time workers can earn a living wage that allows them to raise their families and pay for basic needs such as food, transportation, and housing -- things so many people take for granted.

Barack Obama's Plan to Provide Universal Health Care Access

Fix Our Health Care Crisis: Nearly 47 million Americans lack health coverage today. In addition to the social costs of worse health, the health care crisis makes many American firms less competitive in global markets, and exacerbates our nation's long-term fiscal imbalances. Barack Obama is committed to signing universal health legislation by the end of his first term in office that ensures all Americans have high-quality, affordable health care. His plan will save a typical American family up to $2,500 a year by providing affordable, comprehensive, and portable health coverage for every American and modernizing the U.S. health care system to contain spiraling health care costs and improve the quality of patient care.

Barack Obama’s health care plan

Barack Obama’s Plan for Energy Independence and Creating New Jobs

Barack Obama will implement a cap-and-trade program to reduce greenhouse gas emissions to the level recommended by top scientists. Obama will invest $150 billion over ten years to deploy clean technologies, protect our existing manufacturing base and create millions of new jobs. And the Obama plan will reduce oil consumption overall by at least 35 percent, or 10 million barrels of oil, by 2030 to put America on the path to energy independence.

Invest in U.S. Manufacturing: The Obama comprehensive energy independence and climate change plan not only help strengthen America’s energy security and tackle global climate change, but it will also make strategic investments in American workers and American businesses to create millions of new jobs. The Obama 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 specific tax assistance and loan guarantees to the domestic auto industry to ensure that new fuel-efficient cars and trucks are build in the U.S. with 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 Green Jobs Corps to engage disconnected and disadvantaged youth. This program will provide youth participants with energy efficiency and environmental service opportunities to improve the energy efficiency of homes and buildings in their communities, while also providing them with practical skills and experience in important career fields of expected high-growth employment. Participants will not only be able to use their training to find new jobs, but also build skills that will help them move up the career ladder over time.

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. This measure, which builds off what many states across the nation have enacted, has the potential to create hundreds of thousands of new jobs on its own. Barack Obama will also extend the federal Production Tax Credit (PTC), a measure which has been used successfully for years by American farmers and investors to increase renewable energy production and create new local jobs.
The Obama plan will also enact bold new energy efficiency goals for buildings and appliances, which will both reduce middle class American’s monthly electricity bills and help jumpstart the construction and manufacturing industries. Additionally, the Obama plan will provide tax credits for locally-owned biofuel refineries – which have already started to strengthen the economic vitality of rural America.

For more information on Barack Obama’s energy independence plan

For More Information about Barack’s Plan

Read the plan
Read the Speech

Reader Comments	Comments RSS
Comments are closed for this post.

Specifics | Report to Admin

By Bye-Partisan Jan 13th 2008 at 9:43 pm EST

I like it keep em coming

Re: Specifics | Report to Admin

By Lori in WI Jan 13th 2008 at 9:44 pm EST

Yes!

Re: Specifics | Report to Admin

By Aaron Jan 13th 2008 at 9:45 pm EST

hi lori!!!

GOBAMA!

Re: Specifics | Report to Admin

By Global Citizen Linda Jan 13th 2008 at 10:14 pm EST

I like it when he keeps bring our the details.

Now people, let us have all our hands on deck to help close this race to the White House

Re: Specifics | Report to Admin

By Steven R Jan 13th 2008 at 11:04 pm EST

thanks Sam!

Please cross post these later at dKos, maybe one a day for the whole week.

Re: Specifics | Report to Admin

By Steven R Jan 13th 2008 at 11:05 pm EST

thanks Sam!

Please cross post these later at dKos, maybe one a day for the whole week.

Re: Specifics | Report to Admin

By Katy from Greeley, CO Jan 13th 2008 at 10:39 pm EST

We need to get out and tell all our friends, get people out to vote or caucus. We make the change happen.

Great Proposals! | Report to Admin

By Tommy Ates from Austin, TX Jan 13th 2008 at 9:45 pm EST

I love these economic documents. Hopefully, Barack will specifically discuss these ideas at the debate and on the stump in Nevada! He's said he's going to be there all week folks!!

Did Anyone Know TN will begin Voting this week.? | Report to Admin

By Ethel Jan 13th 2008 at 9:46 pm EST

Tennesseans will begin casting their first votes for president on Wednesday, when early voting begins.

Link

Does anyone know how the GOTV is going in TN?

Re: Did Anyone Know TN will begin Voting this week.? | Report to Admin

By Marbwi Jan 13th 2008 at 11:10 pm EST

Go to STATES/TN at top of this page
Link

Re: Did Anyone Know TN will begin Voting this week.? | Report to Admin

By Benjamin Vos, Nashville Jan 14th 2008 at 12:02 am EST

Shhh... it's a big secret! ;-)

HE IS THE ONE | Report to Admin

By Marbwi Jan 13th 2008 at 9:46 pm EST

Take a look at the speeches/slogans/ tone of discussion/campaign tactics etc of all the prez candidates and see Barack Obama effect. I heard Fred Thompson(a few weeks ago) almost copying B Obama words//we know about HRC//and the other Dems. Today, I saw a Guiliani ad which started out almost borrowing Obama theme(of course it ended with fear and 911). Mitt Romney's campaign had a big red signs saying 'change'(plus something else). Of course, Huckabee is talking about unity etc.
Romney referred to Barack Obama as the 'Senate Slayer'(my title) a few days ago. Basically, he was warning his fellow Repubs not to nominate another senator. Barack had already disposed(in Iowa) of Biden/Dodd/working on Clinton.LOL

ps...Why did the other more 'Washington- experienced' candidates allow her to claim that title?

Need Some Help With DeBunking An Obama Muslim Smear! | Report to Admin

By K E K Jan 13th 2008 at 9:48 pm EST

Hi everyone,

These are great blog posts on where Barack stands! Great idea.

On a side note, I just came across another blog that is attempting to spread the Obama Muslim smear. Could you help me out and leave a comment letting this blogger know that he/she is spreading slanderous and inaccurate information. Let's stop this dead in it's tracks. :)

Link

Re: Need Some Help With DeBunking An Obama Muslim Smear! | Report to Admin

By Leila Jan 13th 2008 at 9:59 pm EST

Here ya go:

FACT CHECK
Link

NEWSWEEK:
Link

Re: Need Some Help With DeBunking An Obama Muslim Smear! | Report to Admin

By Rick Beaule' Jan 13th 2008 at 10:04 pm EST

Nice one! I couldn't find the link. Leila rocks!

Rick
Mustard seeds for everyone!!!

Re: Need Some Help With DeBunking An Obama Muslim Smear! | Report to Admin

By K E K Jan 13th 2008 at 11:03 pm EST

Leila,

Thanks I had found your link and already posted it as a comment on their blog but was hoping others would stop by and leave their comments as well.

Re: Need Some Help With DeBunking An Obama Muslim Smear! | Report to Admin

By Arizona Grandma who needs affordable health insurance Jan 13th 2008 at 10:05 pm EST

When I see this I just copy/paste this page and send it to the person posting or e-mailing this filth...

Link

Sen Patrick Leahy Endoresment? | Report to Admin

By Luis Jan 13th 2008 at 9:51 pm EST

I saw someone post this morning in another thread that Senator Patrick Leahy of VT would endorse Barack.But I havent seen anything more about it.Anyone knows about this?

OBAMA 08

About all proposals | Report to Admin

By Theresa in Maine Jan 13th 2008 at 9:52 pm EST

Does any and all these proposals require passage in both houses of Congress?

Re: About all proposals | Report to Admin

By Marbwi Jan 13th 2008 at 11:18 pm EST

The Constitution---Link

Re: About all proposals | Report to Admin

By ◎Desert Dove Dan◎ Jan 14th 2008 at 7:33 am EST

Theresa, from what I've seen I don't think the Republicans will try to block anything with the words "TAX CUT" in them, do you?

excellent | Report to Admin

By hopeful visions Jan 13th 2008 at 9:53 pm EST

nevermind the cohesive leadership B. Obama has to address and heal our deeper economic wounds

Re: Sen Patrick Leahy Endoresment? | Report to Admin

By Aaron Jan 13th 2008 at 10:28 pm EST

i heard that also....it would be nice :)

great info! | Report to Admin

By GeorgialovesObama Jan 13th 2008 at 9:56 pm EST

Thanks! I'm going to print this out to make copies!

Barack's Blueprint for Change | Report to Admin

By Claudia Jan 13th 2008 at 9:57 pm EST

This is great! Nothing will sway me from supporting Barack. I will print every page of Barack's Plan for Change and read it. I would recommend Barack hold it up at the next Debate showing America his Plan/Blueprint for validation where he as President will take us. This will help to ensure to the voters his message of Hope, A Real Plan for Change in Washington, America and the World.

Re: Barack's Blueprint for Change | Report to Admin

By Nathan "Mr.Independent Democrat" Banks Jan 13th 2008 at 10:03 pm EST

Me too.Let's hope that Barack explains more of this.

Kerry. | Report to Admin

By Kayla Jan 13th 2008 at 9:57 pm EST

Hey... Kerry did a wonderful job supporting Obama today on ABC's "This Week". I was so proud!! More people should watch that video.

Re: About all proposals | Report to Admin

By Petra from Tucson Jan 13th 2008 at 10:06 pm EST

Washington needs a leader who can secure a majority in both houses to pass meaningful legislation - Obama is the one!

The New Majority | Report to Admin

By Andres 'Hussein' Jan 13th 2008 at 10:00 pm EST

The great part of Sen Obama's approach is that he is working towards a new majority - inclusive to democrats, independents and reformed republicans.

What that kind of mandate.....he could seriously push for these kind of economic stimulus packages (and other policies).

It would be much harder with a 51% mandate that ran strictly along party lines ("that just won't do.")....such as if (G*d Forbid) HRC won the nomination and the presidency.

Obama 08!

Si, se puede!

Myspace Music | Report to Admin

By Greg from IL Jan 13th 2008 at 10:00 pm EST

Obama'08!

Link

Give me a "B" | Report to Admin

By Donna NH - Thank you my fellow Granite Staters! Yes we did! Jan 13th 2008 at 10:02 pm EST

Benevolent
Admirable
Real
Attentive
Compassionate
Knowledgeable

Optimistic
Balanced
Approachable
Moral
Aspiring

Re: Give me a "B" | Report to Admin

By Global Citizen Linda Jan 13th 2008 at 10:19 pm EST

Donna,

Can I borrow this please? I hope that the answer is yes in the spirit of Team Obama

Re: Give me a "B" | Report to Admin

By Donna NH - Thank you my fellow Granite Staters! Yes we did! Jan 13th 2008 at 10:21 pm EST

Of course, of course, of course. :)

Re: Give me a "B" | Report to Admin

By Global Citizen Linda Jan 13th 2008 at 10:27 pm EST

Thanks Donna. Let us go and Barack The Vote for Changing is Comming to America!!!!

Really Important Question | Report to Admin

By PJ Jan 13th 2008 at 10:05 pm EST

How is everyone feeling today?
No really...
I know we all get pulled and pushed by this whirlwind...
and its nice to take a second and look at yourselves and see everything you've done.

So How are you feeling?
and I hope you are doing well
PJ

Re: Really Important Question | Report to Admin

By marytnurse, supporting Barack Obama until I see his library built on donations from We The People Jan 13th 2008 at 10:10 pm EST

I'm doin really good PJ, but I am EXCITEDLY awaiting more details on your March in NYC!!!!

Re: Really Important Question | Report to Admin

By PJ Jan 13th 2008 at 10:14 pm EST

The march was great.
I posted details on another blog but it was awesome.
we had about 200 people join us (good considering it was kinda last minute) and we marched two miles and in a few circles!
We got loud and rowdy.
Cops kept telling us to keep quiet. I mean this city has a lot of people. and they were cheering...and we were loud and the taxis were tooting their horns.

we had some cool chants
"New York State...Obama 08"
"New York is...Obama Country"
and so on.

I think the main guys are going to organize a larger one and get permits from the cops so we can scream without getting in trouble
I like a little bit of rowdy! : )

Re: Really Important Question | Report to Admin

By marytnurse, supporting Barack Obama until I see his library built on donations from We The People Jan 13th 2008 at 10:23 pm EST

SWEET!!! lol rowdy is good...at our caucuses, when it was time to start and the line was all the way down the hall and out the main door about 50 yards down, my group asked me to start a cheer....but the ladies signing people in at the door, who were furious cuz HRC was clearly going to lose, didn't approve....oh well!!! lol

Re: Really Important Question | Report to Admin

By PJ Jan 13th 2008 at 10:24 pm EST

a shoutout to Lamond who organized it!

Re: Really Important Question | Report to Admin

By indyK Jan 13th 2008 at 10:14 pm EST

I was TERRIBLE this morning, spitting nails all the way to church about HRC's lies, and not getting any 'O' juice for a couple of days.

But the day got better and better- saw Barack talking to a church (wishing my preacher was as good) then saw the clip of Kerry singing his praises on Stephanopoulus - Link

Then happy to be back "home" with all of you guys. Thanks for all you do for the campaign, and all we do for each other.

I'm in this for the long haul!

Never leave the house without a button, pin, hat, or shirt. Obama shirt, that is..... tee hee...

Re: Really Important Question | Report to Admin

By PJ Jan 13th 2008 at 10:17 pm EST

thats what I wanna hear!
Because its tough...then its easy...but you got this goal and we keep working to it

So cmon everyone...just give me a few lines on how your day was...
its fun read...and we are all friends now

Re: Really Important Question | Report to Admin

By Donna No Shock Barack No Drama Obama of MD Jan 13th 2008 at 11:13 pm EST

PJ my day was an emotional roller coaster. You know who got the best of me earlier and then a couple of my Obama family friends (Reggie and GM) reminded me why we love Barack and need his leadership so I went to the action center and got some phone numbers and made some calls in CO and it really took the edge off. I felt much better afterwards and also felt like I really did something to counteract all that mess that you know who stirred up today so I can rest easy tonight knowing that we have Baracks back and that we will work hard for him to win every caucus and every primary election until he is nominated.

OH YES WE CAN!

Re: Really Important Question | Report to Admin

By Strong Heart Jan 13th 2008 at 10:16 pm EST

I feel like a Song...

Link

Re: Really Important Question | Report to Admin

By Strong Heart Jan 13th 2008 at 10:36 pm EST

My Sweet Lord...

Link

Re: Really Important Question | Report to Admin

By Strong Heart Jan 13th 2008 at 10:40 pm EST

When I Pray to God; Allah, Saguna Brahman and Budda listen In...

Re: Really Important Question | Report to Admin

By Sara Jan 13th 2008 at 11:00 pm EST

Thanks, that's beautiful, I've never thought of that, heard of that before.

Re: Really Important Question | Report to Admin

By Strong Heart Jan 14th 2008 at 7:27 am EST

Forgot the h in Buddha, I don't want to cut him short!!!

Where's the beef? | Report to Admin

By Michael from York, PA Jan 13th 2008 at 10:06 pm EST

I see so many comments on the news these days asking "where's the beef?" Can we just direct them here? Hey nation! HERE'S the beef!

Hope, not blind optimism. Its getting nasty out there.

Angry?....Volunteer. | Report to Admin

By Dutch in Georgia Jan 13th 2008 at 10:21 pm EST

It will help soothe your concerns about the increasing bile spewing from the Clinton campaign.

(and where a work in Atlanta, her offices are literally across the street...ugh!)

Anyway, phone banking today I spoke to this lovely lady in South Georgia. She was really undecided(some people say that just to get you off the phone). Anyway, instead of spewing forth a series of policy specific answers, I simply told her why I support Obama.

"I support Barack because I want to see change. And this means someone who can stop the warefare in Washington. I know, its sounds idealistic, but the same old players in Washington refuse to stop playing games, and nothing ever changes as a result. Barack, with us by his side, will change that."

Then she said...

"I agree. We need a change. But how is that going to help me?"

Then I said....

"Great question. Barack wants to open govenment back up to us, we the people. In doing so, the interests that block change-improving your life- won't hold court all the time. But that won't happen unless we empower each other and Barack. All the others say "vote for me and I'll try to get A, B, C, D, E, passed" but you know that wont' happen. Change requires that we empower each other and get involved. Barack is showing us the way, but we have to make the move and support him. Unless we band together to help each other and Barack, my life won't change, and neither will your's. Do you understand?"

She said she did. And that she would support Barack.

That's how we are going to do this folks, one voter at a time.

Peace

Si Se Puede

hi new people! | Report to Admin

By J. Lowe Jan 13th 2008 at 10:06 pm EST

Hi new people! In talking to new volunteers who are springing up after the important Iowa win, the surprising thing is that many do not know where to get the volunteer instruction manual that will show you how to get started.

It is great, it is wonderful, and best of all it is on the website, available for viewing at 2am with one too many cups off coffee and your dog sleeping at your feet.

As a BONUS, you dont have to listen to someone hard-sell you, or hope to get off work in time to attend a meeting across town.

WHAT TO DO: Look up at the top of this page, and you will see the word ACTION. Click on that. or click here: Link

Read the easy to follow instructions, or heck, dont read the instructions and get started anyways.

For the nerdy nerds, read the Grassroots Action Guide found under "Need Help Organizing?" Or click here: Link

And if you need someone to hold your hand, email me by clicking on my name (J. Lowe) at the top of my post and ask me questions. I will be happy to help you and promise not to hard sell you or get on your nerves too much. hee hee.

Re: hi new people! | Report to Admin

By marytnurse, supporting Barack Obama until I see his library built on donations from We The People Jan 13th 2008 at 10:12 pm EST

J Lowe, not sure you saw my post to you earlier; I haven't seen you to tell you. There were HUNDREDS of great letters up on the walls, several with familiar names (and I have pics, if someone wants to post for me, I don't have a site and no time to put one up) but when I was phone banking in the Cedar Rapids office, I looked up halfway through a phone call and there, right over my head, was a very sweet card by J LOWE!!!! Thanks to ALL of you who wrote to PCs, it was marvelous to feel that support!!!

Re: hi new people! | Report to Admin

By J. Lowe Jan 13th 2008 at 11:46 pm EST

thank you maryt. i'm glad i was there for you via thank you card.

I am mailing out the next round to the wonderful people in NH this week, so if anyone wants to join me . . .

Here is the link to the NH field offices: Link

in love and grateful appreciation for everything you have done, j. lowe

Economic Plan | Report to Admin

By 08AMA! Jan 13th 2008 at 10:12 pm EST

Sounds like a New Deal to me!!!

Beats the heck out of Clinton's plan.

How will he infuse more $$$ in2 S.S. though?

His plan should win over the elderly vote.

Re: Economic Plan | Report to Admin

By 08AMA! Jan 13th 2008 at 10:14 pm EST

Hey democrats! You wanted to see the meat and potatoes of the Obama economic plan? Here it is!!

It does a heck of alot more than the Clinton plan.

Re: Economic Plan | Report to Admin

By marytnurse, supporting Barack Obama until I see his library built on donations from We The People Jan 13th 2008 at 10:15 pm EST

He's already said some sort of adaptation of repealing the 'over 95k tax break' on social security, maybe with some sort of donut hole, but will take it under advisement. He initially was the only one who was so "naive" (yes, that's what he was called) for recognizing SS was in a BIT of trouble. Now, guess who is parroting the same idea, but calling those making that amount middle/lower class?

Re: Economic Plan | Report to Admin

By 08AMA! Jan 13th 2008 at 10:26 pm EST

I've been saying for years that everyone should be paying into social security. Finally, someone has the balls to speak the truth.

Re: Economic Plan | Report to Admin

By IA for Obama ☮ Jan 13th 2008 at 10:25 pm EST

Barack on Social Security

Link

By the way, I love this series of threads on Where Barack Stands. Keep up the great work!

Re: hi new people! | Report to Admin

By Benjamin Vos, Nashville Jan 13th 2008 at 10:20 pm EST

Wow, I didn't know that. Do you have any sort of link or a way that we can learn more about Goldwater's opposition to the Civil Rights Act?

Re: hi new people! | Report to Admin

By Sara Jan 13th 2008 at 11:06 pm EST

Although I don't feel for a lot of reasons that Hiliary is right for our country right now, I really don't believe that she is against civil rights, even if it is true that she supported/worked for Goldwater in her younger years.

Re: hi new people! | Report to Admin

By Randy Jan 14th 2008 at 12:30 am EST

Oh guys, don't go there please. Hillary Rodham's father was a Repuclican and she was a 'Goldwater Girl' as a teenager. It's ugly to go after what amounts to someone's heritage.

We're in a serious political thingy here but we actually do worse when Obama supporters start talking like there are Purity tests opponents must face. Judge opponents by their careers. What do you think they were doing when they dug into Barack's past? This stuff is ugly and our candidate jokes about it and how OTHER campaigns do it and it's part of why this campaign is special. How can he laugh about them digging into his school papers if you're here digging on Hillary for what she did as a teenager?

We won in Iowa because we were a cleaner, smarter campaign led by a really smart community organizer extrodonaire. After all that, it looks awful to me to see this mucking around in the dirt. We've gotta be better than this crap. Look at our candidate for crying out loud.

Re: hi new people! | Report to Admin

By Christi in SoWal Jan 14th 2008 at 10:10 am EST

Beautiful sentiment. I too have been getting disgusted by the Clintons trying to drag race into the campaign, trying to make sure people in the February 5 states marginalize the Obama candidacy. Then, last night, I started re-reading Audacity of Hope, and remembered why I feel so strongly that Obama is the right man at the right time.

We all believe Americans are sick of Rovian politics, no? Then why not just point out how Rovian these attacks are...how they remind us of the sorts of things Obama is against, and let that speak for itself?

Respect and the Clintons | Report to Admin

By K Jan 13th 2008 at 10:16 pm EST

I would like to remind my friend here, as I tell my children, respect is EARNED not merely given.
Also NV snd SC how about 10,000 driver each carrying 2 BO sopporters. Come on NV we know you can do it.

Re: Respect and the Clintons | Report to Admin

By Global Citizen Linda Jan 13th 2008 at 10:34 pm EST

I think that the time has long passed to ask the Clintons this question:

"Leading to and during the Bill Clinton presidency, we in the African American and other racially diverse community gave the Clinton Administration more than 90% support. In exchange, where is the 90% of benefit that the Clinton supporters received in return for our support?"

Repeal Bush Tax Cuts | Report to Admin

By Benjamin Vos, Nashville Jan 13th 2008 at 10:18 pm EST

What's not mentioned directly, but implied in the pdf version of the plan, is that the Bush tax cuts will not be made permanent. The plan does note that part of the problem is that the Bush economic stimulus plan back in 2001 gave a tax cut that was 160 times greater for those who earn more than $1Million than for the rest of us.

The rich-poor gap has expanded way too fast, and workers are feeling the pressure of the fall of the dollar and the rise in prices of gas and groceries, as well as clothing.

Meanwhile, Bush's "Compassionate Conservative" agenda is neither compassionate nor conservative. Charitable contributions and job creation have not moved fast enough to help Americans in poverty.

This is where I like Obama over Huckabee, whose "Fair Tax" plan is unfair to people living paycheck to paycheck.

I Need An Answer... | Report to Admin

By Matthew Jan 13th 2008 at 10:22 pm EST (Updated Jan 15th 2008 at 8:44 am EST)

This post has been removed due to objectionable or disrespectful content.