August 29, 2008 / 2:09 AM / 11 years ago

FACTBOX: Energy and tax proposals in Obama speech

(Reuters) - Following are energy and tax proposals listed by Sen. Barack Obama in a speech accepting the Democratic Party nomination for president on Thursday, according to excerpts of the speech released in advance.

Energy policy

- Ending U.S. dependence on oil from the Middle East in 10 years.

- Tapping U.S. natural gas reserves, investing in clean coal technology and finding ways to safely harness nuclear power. Further domestic drilling was just a stop-gap measure, he said.

- Helping U.S. auto companies re-tool so that fuel-efficient cars of the future would be built in America.

- Investing $150 billion over the next decade in affordable, renewable sources of energy, wind power and solar power and the next generation of biofuels. Obama said that would lead to new industries and 5 million new well-paying jobs.

Tax changes

- Reductions that would mean a tax cut for 95% of working families.

- An end to tax breaks for corporations that move jobs overseas, and new breaks for companies that create jobs at home.

- Eliminating capital gains taxes for small businesses and start-up companies, which Obama said would “create the high-wage, high-tech jobs of tomorrow.” (Editing by David Storey and David Wiessler)

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