Federal Housing Administration guaranteed loan from a lender.
To investigate possible wrongdoing in the mortgage industry, McCain is calling for a task force to investigate potential criminal activity and to bring to justice any who violated the law.
Tax reform:
McCain plans to permanently repeal the Alternative Minimum Tax. According to the candidate, repealing this tax will save middle-class families nearly $60 billion in a single year. Under his plan, a middle class family with children set to pay the AMT will save an average of more than $2,700. He wants to make it harder for the federal government to raise taxes, by requiring a 3/5 majority vote in Congress.
McCain proposes reducing the federal corporate tax rate to 25% from 35%. According to McCain, the U.S. currently has the second-highest combined corporate-tax rate in the industrialized world, and it is driving many businesses and the jobs they create overseas. The Republican also has plans for small businesses. McCain plans to maintain the current income and investment tax rates as a benefit to entrepreneurs and small businesses.
War in Iraq:
The war in Iraq is just one facet of the war against Islamic extremists, McCain says. The U.S. faces an enemy that has repeatedly attacked it and remains committed to killing Americans and the destruction of our values. This election is about who is best prepared to lead and defend our nation and its global allies as Commander-in-Chief from Day 1.
A greater military commitment now is necessary if we are to achieve long-term success in Iraq. However, he also believes there must be a greater emphasis on non-military components promoting economic development and representative, accountable governance.
A renewed effort at home starts with explaining precisely what is at stake in this war to ensure that Americans fully understand the high cost of a military defeat.
Immigration debate:
McCain has always believed that the U.S. border must be secure and that the federal government has failed in its responsibility to ensure that it is secure. If we have learned anything from the recent immigration debate, it is that Americans have little trust that their government will honor a pledge to do the things necessary to make the border secure, he says. As president, he will secure the border and restore the trust Americans should have in the basic competency of their government. A secure border is an essential element of our national security. Tight border security includes not just the entry and exit of people, but also the effective screening of cargo at our ports and other points of entry.
Basic tenets of a McCain administration:
McCain plans to restore the trust that Americans have lost in their government spending their hard earned money wisely. Wasteful spending in Washington has gone from irresponsible to indefensible, he says. Special interests have too much influence in Washington. McCain believes the U.S. needs a president who will provide strong moral leadership, and says a Democrat president will appoint judges who make law with disregard for the will of the people, but to