Obama Adds $60 Billion to Economic Plan; McCain Expected to Unveil Proposals Today

· A temporary tax credit for firms that create jobs in the United States.

· Penalty-free 401(k) and IRA withdrawals through 2009, to allow struggling families to withdraw up to 15 percent of their savings, up to $10,000. (Obama acknowledged that McCain had earlier proposed a similar but more limited plan.)

· A 90-day foreclosure moratorium for homeowners making "good-faith efforts" to keep up with their mortgage payments.

· A new entity created to lend to state and local governments, allowing for an effort similar to the liquidity assistance that the Federal Reserve recently extended to commercial banks.

· The temporary elimination of taxes on unemployment insurance benefits.

[McCain economic policy adviser Douglas Holtz-Eakin told the Reuters news service Tuesday morning that the senator from Arizona would outline an estimated $52.5 billion in new proposals. Most of that would go to pay for a lower tax rate of 10 percent on money that seniors withdraw from IRAs and 401(k) retirement plans in 2009 and 2010, Holtz-Eakin said. McCain would also propose expanding the tax deduction for investment losses to $15,000 a year for the tax years 2008 and 2009, the aide told Reuters.]

Obama also raised the prospect of government aid to the automobile industry and more aggressive federal action to help banks and free up consumer credit. He has already outlined benefits such as a middle-class tax break -- delivered immediately in the form of a check -- and small-business incentives that would total about $115 billion over two years.