Obama to Congress: Pass Middle Class Tax Cuts
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President Barack Obama is calling on Congress to extend tax cuts for middle class families earning under $250,000 for one year, arguing that the expiration of the tax cuts would be a "big blow" to families and serve as a "drag on the economy." (July 9)

Transcript


(President Barack Obama)"we should not raise taxes on middle class families or small businesses. Not when so many folks are just trying to get by. Not when so many folks are still digging themselves out of the hole that was created by this great recession that we have and at a time when the recovery is still fragile. That's why I'm calling on Congress to extend the tax cuts for the 98 percent of Americans who make less than $250,000 for another year//The proposal I make today would extend these tax cuts for 97 percent of all small business owners in America. In other words, 97 percent of small businesses fall under the $250,000 threshold. So, so this isn't about taxing job creators. This is about helping job creators. I wanna give them relief. I wanna give those 97 percent a sense of permanence.//While I disagree on extending tax cuts for the wealthy because we just can't afford them. I recognize that not everybody agrees with me on this. On the other hand, we all say that we should extend the tax cuts for 97 percent of the American people. Alright, everybody says that.The republicans say they don't want to raise taxes on the middle class. I don't want to raise taxes on the middle class. So, we should all agree to extend the tax cuts for the middle class. Let's agree to do what we agree on. Alright.VIDEO SOURCE: AP Television-----------------------VIDEO RESTRICTIONS: AP Clients Only----------------------------------