FACTBOX: Obama, McCain proposals for economy

(Reuters) - Trouble in the subprime mortgage market, a wave of home foreclosures, a broader economic slowdown and spiraling gas prices have heightened voter anxiety before the November election.

Following are some of the economic positions of Sen. John McCain, the presumptive Republican nominee, and Sen. Barack Obama, who has clinched the Democratic nomination for November's U.S. presidential election.

REPUBLICAN SEN. JOHN MCCAIN OF ARIZONA

* Proposed to spend up to $10 billion to allow some homeowners to trade high-interest, adjustable-rate mortgages for safer, fixed-rate loans.

* Proposed a suspension of the 18.4 cent federal gas tax and 24.4 cent diesel tax during the summer.

* Supports a middle-class tax cut to help those who are trying to raise a family by doubling the personal tax exemption for dependents to $7,000.

* Called for a simpler tax system with two tax rates and a generous standard deduction.

* Supports making permanent the 2001 and 2003 income tax cuts and has proposed cutting the corporate tax rate to 25 percent from 35 percent and allowing businesses to immediately write off capital expenses.

* Believes government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and economy.