President Obama’s plan would save American families an average of $1,500
Sacramento — Continuing the effort to help put more money into the pockets of the middle class, the Obama-Biden campaign has released a new online calculator that computes what an extension and expansion of the payroll tax cut would mean for American families.
View the calculator at: http://barackobama.com/tax-
“The online tax calculator is an easy to use tool that allows California families to calculate exactly how much money the Congressional Republicans are going to cost them heading into the holidays,” said Shawnda Westly, Executive Director of the California Democratic Party. “The President has lowered the payroll tax so that working Americans can keep more of what they earn in this tough economy, and he wants to keep that rate low but Republicans are refusing to help.”
Under President Obama’s plan, most families would save $1,500 a year in taxes. The plan also provides incentives for nearly six million small businesses to grow and hire new workers. So far, Congressional Republicans have refused to extend the so-called payroll tax holiday which is slated to expire on December 31.
“Right now Republicans are demonstrating whose side they’re on and they certainly won’t end up on the side of working families if they let a tax increase take effect right now,” said Westly.
To view the tax calculator go to: http://barackobama.com/tax-
