Tax Cuts

President Obama is calling on lawmakers to extend the middle-class tax cuts that are set to expire in 2012 so that 98 percent of Americans and 97 percent of small businesses don’t pay higher taxes next year.

Nearly everyone in Washington agrees that this is the right thing to do, and the Senate has already passed the extension. Republicans in Congress, however, are holding middle-class tax cuts hostage, refusing to extend them unless tax cuts to the wealthiest 2 percent of Americans are also extended.


President Obama to Congress: Extend Middle-Class Tax Cuts


11 Facts About the Tax Debate

Nearly $1 trillion would be added to our deficit over 10 years under the Republicans’ proposal to continue tax cuts exclusively to households making more than $250,000 a year and to the wealthiest estates.

Only 2% of American households will benefit from the Republicans’ proposal to extend tax cuts for those with incomes higher than $250,000 a year.

Under the President's proposal, only the wealthiest 3 in 1,000 estates would owe any estate tax.

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