JEFFERSON CITY, Missouri – Sen. Barack Obama on Friday unveiled a plan to help rescue small-business owners struggling to stay afloat in the sinking economy.
Obama, the Democratic presidential nominee, called for a program of loans for small businesses made through either the federal Small Business Administration's Disaster Loan Program or by private lenders. The private loans also would be guaranteed by the SBA, Obama said.
Watch: Obama blasts GOP tactics
The plan also would eliminate all capital gains taxes for small businesses and start-ups, Obama said during a rally in Chillicothe, Ohio. He said a similar program was created after the September 11 terrorist attacks.
"This is not a time for ideology. This is a time for common sense and a politics of pragmatism," Obama said. "The test of an idea must not be whether it's liberal or conservative - whether it's Republican or Democrat. The test should be whether it works for the people of Chillicothe, the people of Ohio and the American people."
Saying "it's easy to rile up a crowd by stoking anger and division," Obama also chided his Republican rival, Sen. John McCain, for running "misleading ads" and pursuing "the politics of anything goes."