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Press Release - McCain-Palin 2008 Launches New TV Ad: "Michigan Jobs"

September 18, 2008

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest television ad, entitled "Michigan Jobs." The ad highlights the McCain-Palin economic plan to create jobs in Michigan. The ad will be air in Michigan.


Script For "Michigan Jobs" (TV :30)

ANNCR: Michigan families depend on the auto industry.

John McCain and his Congressional allies know it.

Their plan:

Loans to upgrade assembly lines.

Tax credits to boost sales of clean vehicles.

Offshore drilling to reduce the cost of gas and spur truck sales.

And financial reforms to protect your retirement.

Change is coming.

JOHN MCCAIN: I'm John McCain and I approve this message.

AD FACTS: Script For "Michigan Jobs" (TV :30)

ANNCR: Michigan families depend on the auto industry. John McCain and his Congressional allies know it. Their plan: Loans to upgrade assembly lines.

  • John McCain Supports Loans For Auto Companies To Upgrade Facilities. "'Our auto companies are rising to the challenge building the next generation of American cars, but are doing so in times when credit conditions cripple the funding for the facilities and technologies to take the steps to the future,' McCain said in a statement. 'Washington has stepped in to help Wall Street face these conditions, and did pass the Advanced Technology Vehicles Manufacturing Incentive Program to provide low-cost loans. But Congress has also failed to fund it. I believe we should fund it and take action that will assist Detroit and its suppliers in making it through this difficult time of transition.' One auto executive called McCain's support 'huge' since it no longer made it a partisan issue." (David Shepardson, "McCain Supports Loan Guarantees For Automakers," Detroit News, 8/22/08)

ANNCR: Tax credits to boost sales of clean vehicles.

  • John McCain And Governor Palin Have Proposed A $5,000 Tax Credit For Each And Every American Who Buys A Zero Carbon Emission Car. John McCain will issue a Clean Car Challenge to the automakers of America, in the form of a single and substantial tax credit for the consumer based on the reduction of carbon emissions. He will commit a $5,000 tax credit for each and every customer who buys a zero carbon emission car, encouraging automakers to be first on the market with these cars in order to capitalize on the consumer incentives. For other vehicles, a graduated tax credit will apply so that the lower the carbon emissions, the higher the tax credit. (McCain-Palin 2008, "John McCain's Jobs For America Economic Plain," Press Release, 7/7/08)

ANNCR: Offshore drilling to reduce the cost of gas and spur truck sales.

  • John McCain And Governor Palin Will Expand Offshore Drilling To Reduce Gas Prices. McCain: "But I also believe that lifting the moratoria from offshore drilling or oil and natural gas exploration is something that we should place as a very high priority. And again, I don't want to dictate to the states what they should do, but I think that the states can be provided with additional incentives such as a greater share of the revenues than is presently the case." (Sen. John McCain, Remarks At Press Availability, Arlington, VA, 6/16/08)
  • CNN's Frank Sesno: "Expectations Of More Production Can Send Prices Down." FRANK SESNO: "Obama's criticized McCain for saying more drilling would have a positive psychological impact. But there is psychology in energy markets, worries about soaring demand in China or supply disruptions in Nigeria send prices up. Expectations of more production can send prices down." (CNN's "Situation Room," 6/26/08)
  • Harvard Professor And Former Council Of Economic Advisors Chairman Martin Feldstein: "Increasing The Expected Future Supply Of Oil Would Also Reduce Today's Price." "Any policy that causes the expected future oil price to fall can cause the current price to fall, or to rise less than it would otherwise do. In other words, it is possible to bring down today's price of oil with policies that will have their physical impact on oil demand or supply only in the future. For example, increases in government subsidies to develop technology that will make future cars more efficient, or tighter standards that gradually improve the gas mileage of the stock of cars, would lower the future demand for oil and therefore the price of oil today. Similarly, increasing the expected future supply of oil would also reduce today's price. That fall in the current price would induce an immediate rise in oil consumption that would be matched by an increase in supply from the OPEC producers and others with some current excess capacity or available inventories. Any steps that can be taken now to increase the future supply of oil, or reduce the future demand for oil in the U.S. or elsewhere, can therefore lead both to lower prices and increased consumption today." (Martin Feldstein, Op-Ed, "We Can Lower Oil Prices Now," The Wall Street Journal, 7/1/08)
  • BMO Financial Group Global Finance Strategist Andrew Busch Wrote That Long Term Solutions To Energy Such As Drilling Can Have A Short Term Affect On Markets. "We need longer term plans to solve the longer term energy problems of United States. In case you aren't familiar with how markets react, a coherent, logical plan of action towards providing long term solutions will have a positive impact now on the price of energy. Why? Because it will shift the short term psychology of the market away from doom and gloom towards a light at the end of the tunnel scenario. We only need to look at President Bush's lifting of the moratorium on off-shore drilling to see an example of this in the markets. Did this act significantly change the short term outlook for oil? No, but it changed the discussion on the subject at a time when it was needed. In turn, this aided the shift in market psychology back to some fundamentals like demand.....which is dro pping." (Andrew Busch, " Busch: Long Term Energy Plans Can Be Short Term Solutions," CNBC's "Guest Blog,", Posted 7/22/08)
  • Omer Bhatti, The Head Trader At WorldSpreads, Said That The U.S. Offshore Drilling Plan Will Help Lower The Price Of Oil. OMER BHATTI (Head Sales Trader at WorldSpreads): "I think the offshore drilling plan that was agreed in the U.S. kind of helped the scenario to create that pullback scenario." (CNBC's "Worldwide Exchange," 7/28/08)

ANNCR: And financial reforms to protect your retirement. Change is coming. JOHN MCCAIN: I'm John McCain and I approve this message.

  • John McCain: "And Under My Reforms, All Aspects Of A CEO's Pay, Including Any Severance Arrangements, Must Be Approved By Shareholders." "In times of hardship and distress, we should be more vigilant than ever in holding corporate abuses to account, as in the case of the housing market. Americans are right to be offended when the extravagant salaries and severance deals of CEO's -- in some cases, the very same CEO's who helped to bring on these market troubles -- bear no relation to the success of the company or the wishes of shareholders. Something is seriously wrong when the American people are left to bear the consequences of reckless corporate conduct, while the offenders themselves are packed off with another forty - or fifty million for the road. If I am elected president, I intend to see that wrongdoing of this kind is called to account by federal prosecutors. And under my reforms, all aspects of a CEO's pay, including any sever ance arrangements, must be approved by shareholders." (John McCain, Remarks, Washington, D.C., 6/10/08)
  • John McCain And Governor Palin Will Reform Our Mortgage And Financial Markets. "Fixing Fannie and Freddie, and reforming our mortgage and financial markets, is critical to getting the housing market and the entire economy moving again. A great deal of the savings and wealth of American families is wrapped up in the value of their homes. A house has traditionally been the wealth-building course to retirement. The housing industry employs millions of Americans. One of us, John McCain, said over two years ago, 'If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose.'" (John McCain and Governor Sarah Palin, Op-Ed, "We'll Protect Taxpayers From More Bailouts," The Wall Street Journal, 9/9/08)
  • John McCain And Governor Palin Will Address The Role Speculation Is Playing In Energy Prices. "Congress already has investigations underway to examine this kind of wagering in our energy markets, unrelated to any kind of productive commerce, because it can distort the market, drive prices beyond rational limits, and put the investments and pensions of millions of Americans at risk. John McCain believes that where we find abuses, they need to be swiftly punished. To make sure it never happens again, we must reform the laws and regulations governing the oil futures market, so that they are just as clear and effective as the rules applied to stocks, bonds, and other financial instruments." (McCain-Palin 2008, "John McCain's Lexington Project: A Comprehensive Plan To Break Our Dependence On Foreign Oil," Press Release, 6/25/08)
  • John McCain Fought For Financial Transparency In Stock Option Expensing. "U.S. Senator John McCain (R-AZ) today offered an amendment to the Accounting Reform Bill that would require companies to record the stock options that they grant to their employees as an expense on their financial statements. His floor statement follows: 'Mr. President, I rise today to offer an amendment that requires companies to record the stock options that they grant to their employees as an expense on their financial statements. If companies want to claim these expenses as a deduction for tax purposes, they ought to be noted as expenses on a company's income statement. We must end the double standard for stock options.'" (Office Of U.S. Senator John McCain, "We Must End Double Standard For Stock Option," Press Release, 7/11/02)
  • John McCain Has Long Fought For "Transparency Of Our Financial Markets." "As the incoming Chairman of the Commerce Committee, I plan to conduct rigorous oversight over those aspects of corporate governance that fall under the panel's purview. I also plan to pursue further reforms that are desperately needed such as expensing stock options. We have an obvious, pressing obligation to investors to ensure the transparency of our financial markets. Reform is a process. It is not a one-time fight." (Office Of U.S. Senator John McCain, "McCain Declares Reform Crusade Continues," Press Release, 11/14/01)

John McCain, Press Release - McCain-Palin 2008 Launches New TV Ad: "Michigan Jobs" Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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