Posts Tagged ‘Tax cut’
President Obama remarks on Extending Middle Class Tax Cuts – Nov. 28, 2012
REMARKS BY THE PRESIDENT ON EXTENDING TAX CUTS FOR THE MIDDLE CLASS South Court Auditorium 12:01 P.M. EST THE PRESIDENT: Thank you so much. Thank you, everybody. Please have a seat. Thank you very much. Everybody, please have a seat -- except you guys. Don't sit down. (Laughter.) Well, good morning, everybody. AUDIENCE: Good morning. THE PRESIDENT: There’s been a lot of talk here in Washington about the deadlines we’re facing on taxes and deficits -- these deadlines are going to be coming up very soon, in the coming weeks. But today is important because I want to make sure everybody understands this debate is not just about numbers. It's a set of major decisions that are going to affect millions of families all across this [...]
WEEKLY ADDRESS: Extending the Payroll Tax Cut for the Middle Class
WEEKLY ADDRESS: Extending the Payroll Tax Cut for the Middle Class WASHINGTON, DC—In this week’s address, President Obama urged Congress to quickly pass the payroll tax cut extension to prevent a tax hike on 160 million hardworking Americans who are still recovering from the worst economic downturn since the Great Depression. This is not the time for a self-inflicted wound on the recovery or placing an added burden on middle class families, so Democrats and Republicans must pass this commonsense tax cut without drama or delay. We overcame the same standoff over the payroll tax cut extension in December with the help of the American people, and President Obama once again calls on all Americans to tell their elected leaders to do their jobs, put aside partisanship, and extend [...]
Statement by President Obama on Full-Year Extension of Payroll Tax Relief Deal
THE WHITE HOUSE December 22, 2011 Statement by the President For the past several weeks, I’ve stated consistently that it was critical that Congress not go home without preventing a tax increase on 160 million working Americans. Today, I congratulate members of Congress for ending the partisan stalemate by reaching an agreement that meets that test. Because of this agreement, every working American will keep his or her tax cut – about $1,000 for the average family. That’s about $40 in every paycheck. Vital unemployment insurance will continue for millions of Americans who are looking for work. And when Congress returns, I urge them to keep working to reach an agreement that will extend this tax cut and unemployment insurance for all of 2012 without drama or [...]
CBO: Obama Jobs Bill will increase the budget deficit
This afternoon CBO released a cost estimate for S. 1549, the American Jobs Act of 2011, as introduced by Senator Majority Leader Harry Reid on September 13, 2011. That legislation corresponds to the plan put forth by President Obama. We also released a cost estimate for S. 1660, the American Jobs Act of 2011, as introduced by Senator Reid on October 5, 2011. Senator Reid’s alternative bill, S. 1660, includes the same tax cuts and spending increases as S. 1549, but it offsets the budgetary impact of those provisions in a different way, as described below. Those estimates represent joint work by CBO and the staff of the Joint Committee on Taxation (JCT). CBO anticipates that enacting either bill could have a noticeable impact on economic growth and employment in the next few years. [...]
Democrats didn't file Obama's "American Jobs Act" so a Conservative Nabs Name for his own bill
I guess when the GOP passes Rep. Louie Gohmert’s (R-TX) legislation they will be able to tell America they passed the Jobs bill. President Obama repeatedly asked members of Congress to pass the American Jobs Act last week. But when no Democrat filed Obama’s bill after he presented it to Congress, a conservative congressman swiped the name for his own legislation. The American Jobs Act introduced in the House of Representatives looks quite different from the version President Obama outlined in his speech to Congress. Instead of hiking taxes on working Americans to pay for another stimulus, Rep. Louie Gohmert’s (R-TX) legislation offers a tax cut. UPDATE: Gohmert’s bill now has a number. It’s HR 2911. Text of the legislation is below. via Conservative Nabs Naming Rights to [...]
Fact: Revenue increased by $785B following Bush Tax Cuts
Via Byron York Over an over again the mantra is "we don't have a revenue problem in Washington, We have a spending problem". Despite more money going out than coming in the Democrats want to squeeze more money out of the Rich to develop or fund programs. These programs should be dealt with from the local level where people can see the actual problems close up. DC continues to think they know better. Judging by the pundits and the talking heads, Republicans have already lost the message war over the debt ceiling. Conventional wisdom portrays them as intransigent, refusing Democratic offers of huge spending cuts in exchange for modest tax -- or "revenue" -- increases. When Reps. John Boehner, Eric Cantor and their colleagues go to the White House, President Obama is "the adult in the [...]
