Obama: unstoppable Following are energy and tax proposals listed by Sen. Barack Obama in a speech accepting the Democratic Party nomination for president on Thursday, according to excerpts of the speech released in advance.
Energy policy
– Investing $150 billion over the next decade in affordable, renewable sources of energy, wind power and solar power and the next generation of biofuels. Obama says that will lead to new industries and 5 million new well-paying jobs.
– Ending U.S. dependence on oil from the Middle East in 10 years.
– Helping U.S. auto companies re-tool so that fuel-efficient cars of the future will be built in America.
– Tapping U.S. natural gas reserves, investing in clean coal technology and finding ways to safely harness nuclear power. Further domestic drilling is just a stop-gap measure, he says.
Tax changes
– Reductions that would mean a tax cut for 95% of working families.
– An end to tax breaks for corporations that move jobs overseas, and new breaks for companies that create jobs at home.
– Eliminating capital gains taxes for small businesses and start-up companies, which Obama said would “create the high-wage, high-tech jobs of tomorrow.”
“Tonight, more Americans are out of work and more are working harder for less. More of you have lost your homes and more are watching your home values plummet,” Mr Obama said in remarks prepared for delivery.
The atmosphere outside Invesco stadium resembled a rock concert or a sports event. By late afternoon, the queue outside was more than a mile long. Tickets to the 75,000 capacity stadium, which were originally given away for free online on a first come-first served basis, were going for $200 on the black market.
Inside the stadium, a succession of speakers and entertainers occupied the stage from mid afternoon onwards, ranging from former Colorado governor Bill Ritter and civil rights leader John Lewis to musicians John Legend, Sheryl Crow and Stevie Wonder.
