McCain Warns of Obama's Impact on Small Businesses

WASHINGTON — Senator McCain said Democratic rival Senator Obama is bad for business in a speech to small business owners.

Mr. McCain said today that Mr. Obama's policies would mean higher taxes and higher overhead costs. The Republican presidential nominee-in-waiting also criticized Mr. Obama for pledging to renegotiate the North American Free Trade Agreement.

RELATED: Senator McCain's speech at the National Small Business Summit.

Mr. McCain said small businesses make the economy run and that his Democratic rival would slow the creation of new jobs.

"You work hard in small businesses to grow and create new jobs and opportunities for others," Mr. McCain said. "The federal government shouldn't make your work any harder."

Economic issues have taken center stage in the early presidential race. Mr. Obama argues that Mr. McCain's policies are no different from those of President Bush, and he blames those policies for the slumping economy.

Mr. Obama has pledged to end the Bush administration's tax cuts for upper-income workers and has called for new taxes on oil companies and wealthy individuals, along with $1,000 tax cuts for the middle class tax.

Mr. McCain said small businesses would bear the brunt of the tax increases proposed by Mr. Obama. Mr. McCain called for phasing out the alternative minimum tax and allowing businesses to write off some new investments.

"I don't want to send any more of your earnings to the government," the Arizona senator said.

Mr. McCain, who was introduced by the eBay Inc. CEO, Meg Whitman, was briefly interrupted by protesters who yelled that war is bad for small business. The protesters were booed, and Mr. McCain used the interruptions to call for a civil debate in the campaign.