No. 1: Increase the capital gains and dividends taxes for higher-income taxpayers
Increase capital gains and dividends taxes from 15 to 20 percent for those making more than $250,000 (couples) or $200,000 (single)
No. 2: Eliminate all oil and gas tax loopholes
"Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms."
No. 4: Extend child tax credits and marriage-penalty fixes
Will extend aspects of the Bush tax cuts such as child credit expansions and changes to marriage bonuses and penalties.
No. 7: Double funding for the Manufacturing Extension Partnership, a program that encourages manufacturing efficiency
"The Manufacturing Extension Partnership (MEP) works with manufacturers across the country to improve efficiency, implement new technology and strengthen company growth. This highly-successful program has engaged in more than 350,000 projects across the country and in 2006 alone, helped create and protect over 50,000 jobs. But despite this success, funding for MEP has been slashed by the Bush administration. Barack Obama and Joe Biden will double funding for the MEP so its training centers can continue to bolster the competitiveness of U.S. manufacturers."
No. 8: Include environmental and labor standards in trade agreements
"He will use trade agreements to spread good labor and environmental standards around the world"
No. 12: Create an international tax haven watch list
Create an international tax haven watch list of countries that do not share information returns with the United States.
No. 17: Require economic justification for tax changes
Adopt the economic substance doctrine, a policy that states that tax changes must have significant economic justification, as a federal law.
No. 20: Make permanent the Research & Development tax credit
The Research & Development tax credit and the renewable energy production tax credit are intended to spur innovation in the private sector, but the tax credits have expiration dates under current law. Obama would make them permanent.
No. 21: Require automatic enrollment in 401(k) plans
Automatic enrollment in 401(k) plans for workers whose employers offer retirement plans.
No. 22: Require automatic enrollment in IRA plans
Require employers who do not offer retirement plans to offer their workers access to automatic IRAs and contribute via payroll deduction.
No. 23: Create a retirement savings tax credit for low incomes
A tax credit for retirement savings up to $500 (couples) or $250 (singles). Phases out when incomes exceed $65,000 (couples) or $32,500 (single). Indexed for inflation.
No. 26: Implement "Women Owned Business" contracting program
"Will implement the Women Owned Business contracting program that was signed into law by President Bill Clinton, but has yet to be implemented by the Bush Administration." The program seeks to get more women-owned businesses to compete for federal contracts.
No. 27: Change standards for determining broadband access
Will direct the Federal Communications Commission to "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."
No. 28: Create a consumer-friendly credit card rating system
"The Federal Trade Commission (FTC) will assess the degree to which credit cards meet consumer-friendly standards … (such as) 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. ... 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."
No. 31: Create a $60 billion bank to fund roads and bridges
"Will address the infrastructure challenge by creating a National Infrastructure Reinvestment Bank to expand and enhance, not supplant, existing federal transportation investments. This independent entity will be directed to invest in our nation's most challenging transportation infrastructure needs. The Bank will receive an infusion of federal money, $60 billion over 10 years, to provide financing to transportation infrastructure projects across the nation. These projects will create up to two million new direct and indirect jobs and stimulate approximately $35 billion per year in new economic activity."
No. 37: Extend the Bush tax cuts for lower incomes
Extend the Bush tax cuts for those making less than $250,000 (couples) or $200,000 (single)
No. 38: Repeal the Bush tax cuts for higher incomes
Repeal the Bush tax cuts for those making more than $250,000 (couples) or $200,000 (single)
No. 39: Phase out exemptions and deductions for higher earners
Restore the phaseouts of personal exemptions and itemized deductions for those making more than $250,000 (couples) or $200,000 (single), with threshholds indexed for inflation.
No. 42: Tax carried interest as ordinary income
Carried interest is a way of compensating executives by giving them ownership stakes, or "interest," in a business. Carried interest is taxed as a capital gain, which has a lower tax rate than ordinary income. Obama proposes taxing carried interest at the same rate as regular income.
No. 43: Sign the Employee Free Choice Act, making it easier for workers to unionize
"Obama is a cosponsor and strong advocate of the Employee Free Choice Act (EFCA), a bipartisan effort to make the unionization process more transparent and increase penalties on companies that violate employee rights. He will sign EFCA into law as president."
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