FACTBOX - Economic proposals in McCain speech

(Reuters) - Following are economic proposals outlined by Sen. John McCain in a speech accepting the Republican Party nomination for president on Thursday.

Tax policy

- Keep taxes low to help small businesses grow and create new jobs

- Double the child tax exemption to $7,000 (3,975 pounds) from $3,500 (1,988 pounds)

Trade

- Modernize government assistance to unemployed workers

- Use community colleges to help train people for new jobs

- For those who lose their jobs due to outsourcing, make up part of the difference in wages between their old job and a temporary, lower paid one while they receive retraining

Energy

- Drill new wells offshore

- Build more nuclear power plants

- Develop clean coal technology

- Increase the use of wind, tide, solar and natural gas

- Encourage the development and use of flex fuel, hybrid and electric automobiles.

(Editing by Patricia Zengerle)