Obama proposes a tax shift

As part of Barack Obama's rollout of his economic agenda, the Illinois senator yesterday proposed a revamp of the nation's tax code that shifts more of the tax burden onto the wealthy.

Speaking at the Tax Policy Center in Washington, Obama proposed an $80 billion to $85 billion tax cut for the middle class that includes a tax cut of up to $1,000 for 150 million people and their families; a homeowner's tax credit for those who do not itemize deductions; eliminating the income tax for seniors who make less than $50,000; and streamlining tax filings so that many Americans could complete tax returns in less than five minutes.

Obama says he would pay for his overhaul in part by closing corporate loopholes, cracking down on corporate overseas tax havens, and boosting the tax rate on dividends and capital gains for those in the top income bracket.

"When folks are hurting out there on Main Street, that's not good for Wall Street," Obama said in prepared remarks. "When that dream of opportunity is denied to too many Americans, then ultimately that pain has a way of trickling up."

SCOTT HELMAN

Radio rivalry

Mitt Romney and Rudy Giuliani are starting new radio ads in Iowa that try to press what their campaigns see as advantages in the tightly fought caucus race.

Romney’s ad, which begins airing today, reminds listeners of his support for a federal constitutional amendment defining marriage as between one man and one woman and of his quick condemnation of an Iowa judge’s decision last month that allowed same-sex marriage.

‘‘The court ruling in Iowa is just another example of an activist judge trying to find things in the Constitution that aren’t there,’’ says Romney, who has been criticized by conservatives for his past support for gay rights in Massachusetts.

Giuliani’s ad, meanwhile, tries to capitalize on the fight he picked with the antiwar group MoveOn.org.

After he excoriated the group for placing a newspaper ad last week questioning the honesty of General David H. Petraeus, MoveOn.org’s political action committee started a TV ad in Iowa this week accusing Giuliani of being AWOL from the Iraq Study Group.

In the radio ad that began airing yesterday, the narrator says: ‘‘Why is MoveOn attacking Rudy Giuliani? Because he’s their worst nightmare. They know Rudy is a Republican who can beat the Democrats.’’

FOON RHEE

Edwards slams luncheon

WASHINGTON — In its most direct attack on Hillary Clinton, the campaign of Democratic presidential contender John Edwards yesterday denounced a fund-raising luncheon that included sessions for Clinton donors with members of Congress who have expertise in homeland security.

‘‘Today’s Clinton fund-raising event is a ‘poster child’ for what is wrong with Washington and what should never happen again with a candidate running for the highest office in the land,’’ Edwards’s senior adviser Joe Trippi said in a letter to supporters.

The Clinton fund-raiser was held yesterday in the Washington offices of Jones Day, which has more than 2,200 lawyers in 30 offices worldwide. Some of the luncheon chairs and members of the host committee have been lobbyists for a wide range of business interests.

In response to the criticism, Clinton campaign spokesman Phil Singer said, ‘‘Increasingly negative attacks against other Democrats aren’t going to end the war, deliver universal healthcare, or turn John Edwards’ flagging campaign around.’’

ASSOCIATED PRESS

No endorsement intended

COLUMBIA, S.C. — Former president George H.W. Bush backs John McCain’s efforts to increase support for the Iraq war in a new video, but aides to both men say it shouldn’t be construed as an endorsement of McCain’s candidacy.

On Monday night, Bush appeared in the video shown at the military college in South Carolina, The Citadel, during the final stop of the Arizona senator’s ‘‘No Surrender’’

tour. ‘‘The bottom line is we must persevere; we must not surrender; we must not quit and run away,’’ Bush said, according to a transcript provided by the McCain campaign.

Jean Becker, chief of staff for the former president, said the video was ‘‘intended to support the troops and not intended as an endorsement for Senator McCain.’’ McCain’s campaign hasn’t misrepresented the video, she said, and Bush remains neutral in the race.

ASSOCIATED PRESS