WASHINGTON — As the presidential campaign heads into its final three weeks, Republican John McCain plans to stress new tax cuts as a way to fight the sluggish economy that has threatened global credit markets and hampered his candidacy.

Campaign spokesman Tucker Bounds declined to say whether the GOP nominee would make any new economic proposals during an event today in Virginia Beach, Va. But McCain ally Sen. Lindsey Graham, R-S.C., said yesterday that McCain is looking at ways to "jump-start" the economy with tax cuts to encourage investment.

"Now is the time to lower tax rates for investors," Graham said on CBS' "Face The Nation." He said cuts in the capital gains and dividend tax rates could be part of a "very comprehensive approach."

Michigan GOP Chairman Saul Anuzis said yesterday the economy has put McCain on the defensive.

The latest Gallup daily tracking poll has Democrat Barack Obama leading McCain, 50 percent to 43 percent.

"We've got some strong messages that aren't connecting with people and Obama seems to be Teflon-like," said Anuzis, who represents a state where McCain has stopped campaigning. "That's what's creating the frustration."

For his part, McCain told supporters at a GOP phone bank in a Virginia suburb that "we're right in this game." He said the financial credit crisis "has hurt us a little bit," but predicted a comeback because voters "want experience."

McCain also alluded to Wednesday's third and final debate with Obama, saying he would "whip his you-know-what." They meet at Hofstra University in Hempstead, N.Y.

Republican strategists said McCain can prevail if he presents himself as the optimistic visionary the public wants at deeply worrisome economic times.

"He needs to come forward with a serious new plan and announce it in a serious manner," said Scott Reed, who managed Bob Dole's 1996 campaign.

"He has an opportunity to step up and be a forceful leader during these challenging times," said Ron Kaufman, a veteran party operative who also worked for GOP primary rival Mitt Romney. "McCain got the nomination because that's what his brand is, but somehow it's gotten muddled."

Senior advisers insist McCain is trying to be such a leader. They note that his daily speeches are devoted heavily to the economy, including taxes and healthcare, and that he's been rolling out a series of prescriptions. They complain that McCain's not getting credit for those and argue that the media holds McCain to a higher standard than Obama, who they contend is getting a free pass.

ECONOMIC SOLUTIONS

McCain's economic plan already proposes a cut of the corporate tax rate and making permanent the Bush tax cuts that are scheduled to expire in 2010.

McCain also has laid out a $300 billion plan for the federal government to buy distressed mortgages and renegotiate them at a reduced price.

The Arizona senator has said his plan is necessary to get thousands of bad mortgages off the books to stabilize home values and open up credit. But critics said the plan would do little more than reward financial institutions that made the bad loans in the first place.

On Friday, McCain called for legislation that suspends for one year the requirement that investors age 70 1/2 begin to liquidate their retirement accounts. He said it would be unfair to force seniors to sell their stocks when stock prices have tumbled so severely. Obama aides said the Illinois senator favors a similar effort.

Obama also has offered plans to address the fiscal crisis, but nothing as sweeping or controversial as McCain's mortgage proposal.

On Friday, Obama announced a $900 million plan to temporarily extend an expiring tax break that lets small businesses write off investments up to $250,000 immediately, rather than over the course of several years.

Aides said Obama also wants to extend the Small Business Administration's disaster loan program to help small businesses that cannot access other sources of capital, as well as eliminate fees on SBA loan guarantees and increase the size of loans that could be covered. They put the cost at $5 billion.

Both candidates voted for the $700 billion bailout proposal Congress passed and President Bush signed into law earlier this month.

TRADING BARBS

Obama spent part of yesterday knocking on doors in an Ohio neighborhood. The Democratic nominee also got some high-profile help from former primary rival Hillary Rodham Clinton and her husband, former President Bill Clinton, in the battleground state of Pennsylvania.

The Clintons were in Scranton, where Democratic vice presidential nominee Joe Biden was born and Hillary Clinton has family ties.

"Sending the Republicans to clean up this financial crisis is like sending the bull to clean up the china closet," the former first lady said, adding that Obama and Biden would clean up the mess left behind by President Bush.

The two campaigns again traded charges over the tone at some GOP rallies last week. A few of McCain's supporters yelled "terrorist" and "traitor" at the mention of Obama's name. McCain rebuked the crowds.

On "Fox News Sunday," McCain campaign manager Rick Davis said a statement by Rep. John Lewis, D-Ga., a civil rights leader, was "reprehensible." Lewis accused the GOP on Saturday of "sowing the seeds of hatred and division" and appeared to imply that McCain was in line with segregationist George Wallace. He later said that was not his intent.

Obama senior adviser David Axelrod, also on Fox, said "parameters have been crossed" and cited GOP vice presidential nominee Sarah Palin's remark that Obama "is not a man who sees America like you and I see America" as one example.

The Associated Press contributed to this report.