(CNN) -- Sen. Barack Obama on Monday detailed what his campaign called a four-part "economic rescue plan" for the middle class.

"I'm proposing a number of steps that we should take immediately to stabilize our financial system, provide relief to families and communities, and help struggling homeowners," Obama said at a campaign event in Toledo, Ohio. "It's a plan that begins with one word that's on everyone's mind, and it's easy to spell: J-O-B-S."

Obama's plan comes as aides to Sen. John McCain said their candidate would likely wait to lay out any further plans until the Treasury issues a report or recommendations on what to do with the bailout.

McCain has already unveiled a plan to buy $300 billion in troubled mortgages and renegotiate the terms directly with homeowners. On Friday, he endorsed the idea of suspending the current requirement that seniors start drawing down their retirement plans -- IRAs and 401(k)s -- once they reach age 70½.

Obama on Monday proposed a temporary tax credit for firms that create new jobs in the United States over the next two years, and penalty-free withdrawals from IRAs and 401(k)s in 2008 and 2009.

The Democratic candidate called for new legislation that would give families the option of withdrawing as much as 15 percent of their retirement savings --- up to a maximum of $10,000 --- without facing a tax penalty this year or next.  He also called for a temporary lifting of taxes on unemployment insurance benefits.

The Illinois senator also proposed a 90-day foreclosure moratorium for homeowners acting in good faith, and a new effort to address the growing credit crisis at the state and local level.

Under the Obama plan, the Federal Reserve and the Treasury would provide much the same kind of backing to state and municipal governments as the recent federal bailout did to the commercial credit market.

"We can't wait to help workers and families and communities who are struggling right now -- who don't know if their job or their retirement will be there tomorrow; who don't know if next week's paycheck will cover this month's bills," Obama said. "We need to pass an economic rescue plan for the middle-class ... and we need to do it right now."

The McCain campaign said Obama's economic rescue plan was a political move that would not provide solutions.

"It is clear that the economy is hurting, that Americans need across-the-board tax relief, and yet Barack Obama has proven unwilling to break with the left-wing of his party and stand up for the American taxpayer," spokesman Tucker Bounds said. Fact check: Obama's tax plan and small businesses

"Interestingly, Barack Obama called [for] a moratorium on foreclosures, which is a policy he had previously labeled 'disastrous' when it was proposed by a political opponent. Proving yet again that Barack Obama's positions on the issues are tied to elections, not solutions for the American people," he said.

During the primaries, Obama criticized Sen. Hillary Clinton's plan, which, unlike his, included a freeze on interest rates.

Earlier Monday, McCain delivered a speech that a senior aide predicted would "begin a turnaround for the campaign."

On the new tone, the aide said the campaign decided to go "back to basics" with McCain on what he can offer.

McCain told voters Monday that they should elect him because "what America needs in this hour is a fighter."

"I will fight to take America in a new direction from my first day in office until my last. I'm not afraid of the fight, I'm ready for it," McCain said at a rally in Virginia Beach, Virginia.  Watch what's going on in battleground Virginia »

"Let me give you the state of the race today and some straight talk. We have 22 days to go. We're 6 points down. The national media has written us off," McCain said to a sea of boos.

CNN's most recent poll of polls
who lays out four part plan? What is Barack Obama laying out? how many days is the moratorium? what does mccain say? what is part 1? What does he propose a moratorium on? What did McCain say about it?
Sen. a four-part "economic rescue 90-day "what America needs in this hour is a fighter." provide relief to families and communities, foreclosures, "I will fight to take America in a new direction from my first day in office until my last. I'm not afraid of the fight, I'm ready for it,"
question: who lays out four part plan?, answer: Sen. | question: What is Barack Obama laying out?, answer: a four-part "economic rescue | question: how many days is the moratorium?, answer: 90-day | question: what does mccain say?, answer: "what America needs in this hour is a fighter." | question: what is part 1?, answer: provide relief to families and communities, | question: What does he propose a moratorium on?, answer: foreclosures, | question: What did McCain say about it?, answer: "I will fight to take America in a new direction from my first day in office until my last. I'm not afraid of the fight, I'm ready for it,"