Republican presidential nominee Sen. John McCain, speaking at the Wednesday, Oct. 15, debate at Hofstra University in Hempstead, New York, repeated a charge that his Democratic rival, Sen. Barack Obama, voted to raise taxes. "He voted twice for a budget resolution that increases the taxes on individuals making $42,000 a year," McCain said.
Get the facts!
McCain is referring to a June 5, 2008, vote on a resolution (Senate Concurrent Resolution 70) meant to outline the Senate's budget priorities through 2013, but the measure had no practical effect. Obama and running mate Sen. Joe Biden voted "yes" on the resolution. McCain did not vote.
According to a CNN review of the resolution, it assumes that most of the 2001 and 2003 tax cuts pushed by President Bush will expire in that time. That's what McCain calls a tax increase. However, the Democrats offered their own cuts in the 48-page resolution, which called for several tax cuts and breaks, including rolling back the alternative-minimum tax and the so-called "marriage penalty."
According to an analysis by the independent Tax Policy Center, the tax plan Obama has proposed during the campaign would increase taxes in 2009 on the wealthiest 20 percent of households, while offering tax cuts for the other 80 percent.