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McCain, Obama Address Economy, Spar over Taxes

Both major U.S. presidential candidates are addressing the economy, stressing the need to help average Americans while offering different views on tax policies.

Republican John McCain told members of the League of United Latin American Citizens meeting in Washington Tuesday that he wants to reduce the tax rate corporations to help small businesses.

He says a lower tax rate will encourage companies to increase investment in the United States and to create more jobs.

Earlier, Democratic candidate Barack Obama, speaking to supporters in Georgia, said McCain's proposed tax cuts will only benefit rich corporations.

Obama outlined his own economic proposals that he says will help protect vulnerable people, including the sick and elderly who are facing bankruptcy.

Obama also is scheduled to address the League of United Latin American Citizens today. The group represents an important Latino voting bloc. At least nine million Latinos are expected to vote in the upcoming election.

Some information for this report was provided by AFP, AP and Reuters.