[cnn-photo-caption image= http://i.cdn.turner.com/cnn/2008/images/04/29/art.add.cnn.jpg caption="Clinton is out with a critical ad in Indiana and North Carolina."] (CNN) - Hillary Clinton launched a new ad in North Carolina and Indiana Tuesday that directly criticizes Barack Obama’s proposals to address the explosion in home foreclosures and rising gas costs.
The negative spot comes a week before both states’ crucial May 6 primaries and specifically attacks Obama for not calling for a freeze on mortgage foreclosures and not supporting a suspension of the gas tax.
Clinton has called for a 90-day moratorium on home foreclosures and $30 billion for an Emergency Housing Fund. Obama has called for a $10 billion foreclosure prevention fund to help homeowners who are victims of mortgage fraud sell their homes or modify their loans, to avoid foreclosure and bankruptcy.
In response to rising gas costs, both McCain and Clinton have called for a suspension of the gas tax ahead of the summer driving season. McCain's plan would lift the 18.4 cents per gallon tax during peak summer travel months and would suspend the 24.4 cent diesel tax.
Clinton, who rejected a similar idea in 2000, said her plan is different from McCain's, claiming his proposal would cost the government up to $10 billion that would otherwise be used to improve roads. Clinton has said she'd make up for the lost revenue with a "windfall profits tax" on oil companies, meaning their profits over a certain amount would be subject to a 50 percent tax.
Obama does not support a suspension of the gas tax, which he described as a political scheme that would save the average driver $25 to $28. He's instead proposing a tax on oil companies to help low-income families pay energy bills.
"It’s time for a president who’s ready to take action now," the ad's announcer states.
(Full ad script after the jump)
Announcer: The economy’s in trouble, the housing crisis broke. Hillary Clinton called for action. Freeze on foreclosures.
Barack Obama said no.
Now gas prices are sky rocketing and she’s ready to act again. Hillary’s plan: use the windfall profits of the oil companies to pay to suspend the gas tax this summer.
Barack Obama says no again. People are hurting. It’s time for a president who’s ready to take action now.