Democrat Barack Obama is proposing lifting penalties for withdrawals of up to $10,000 from retirement accounts and imposing a 90-day moratorium on foreclosures on some homeowners as part of a plan to boost the economy and aid middle-income taxpayers.

Obama also wants the Federal Reserve and Treasury to lend money to state and municipal governments that are have having trouble raising money and for federal lawmakers to "keep all options open" to help struggling automakers.

The Democratic presidential candidate's advisers say all of the measures, including a $3,000 tax credit to companies for each new job they create in the U.S, should be done immediately, either through existing authority or emergency legislation.

"We need to pass an economic rescue plan for the middle class and we need to do it now," Obama will say in a speech today, according to excerpts released by the campaign. He is scheduled to speak at 1:30 p.m. local time in Toledo, Ohio.

The economic crisis is dominating the presidential campaign, and polls show voters are favoring Obama over Republican candidate John McCain to deal with it. The Illinois senator has opened a 10-percentage point lead over McCain, 53 percent to 43 percent, among likely voters nationally in a Washington Post-ABC News poll taken Oct. 8-11. That's up from a 4-point lead in a Post-ABC poll taken at the end of September.

Foreclosures

The foreclosure moratorium would apply to banks that are getting capital through the $700 billion rescue plan approved by Congress. It would impose a 90-day ban on foreclosures on homeowners who are trying to keep current on their mortgages.

Obama, 47, calls for a lending facility for states and localities that are having trouble borrowing.

Obama, 47, endorsed a proposal by McCain to suspend rules requiring retirees to begin liquidating Individual Retirement Accounts and 401(k)s at age 70 1/2 to avoid selling assets while markets are down. He would expand it to allow withdrawals of up to 15 percent, with a maximum of $10,000, without facing the tax penalties such withdrawals usually carry.

He also endorsed suspending taxes on unemployment insurance benefits.

McCain, an Arizona senator, held a rally in Virginia Beach this morning along with running mate Sarah Palin, the governor of Alaska. He portrayed himself as the underdog in the contest and emphasized his experience.

"The next president won't have time to get used to the office," McCain, 72, said. "He will have to act immediately."

McCain didn't present any new proposals on the economy. He repeated his plan to buy up troubled home loans as a way to help beleaguered borrowers.

"I'm not going to spend $700 billion of your money just bailing out the Wall Street bankers and brokers who got us into this mess," McCain said. "I'm going to spend a lot of that money to bring relief to you, and I'm not going to wait 60 days to start doing it."

The two candidates will stage their final debate before the Nov. 4 election on Wednesday.