WEEKLY ADDRESS: Extending and Expanding the Payroll Tax Cut

WASHINGTON — In this week’s address, President Obama told the American people that although the United States has created private sector jobs for the past 21 months in a row, that is not enough for struggling Americans. We must continue growing the economy by passing the payroll tax cut, which will give the middle class a tax cut of $1,500 and provide small businesses more money to hire workers by cutting their payroll taxes in half. The President urges all Americans to tell Congress not to raise taxes during the holidays and act in the best interests of middle class families and pass the tax cuts now.

Remarks of President Barack Obama
Weekly Address
The White House
December 3, 2011

This week, we learned that our economy added another 140,000 private sector jobs in November. Despite some strong headwinds this year, America’s economy has now created private sector jobs for the past 21 months in a row – almost three million new jobs in all, more than half a million of them in the past four months alone.

We need to keep this growth going and strengthen it. That’s why we’ve been fighting to pass a series of jobs bills through Congress – bills that independent economists say will create more jobs and grow the economy even faster. Because now is the time to step on the gas, not slam on the brakes.

Unfortunately, too many Republicans in Congress don’t seem to share that same sense of urgency. Over the last few months, they’ve said “no” to most of these jobs bills. “No” to putting teachers and firefighters back to work. “No” to putting construction workers back on the job. And this week, they actually said “no” to cutting taxes for middle-class families.

You see, last year, both parties came together to cut payroll taxes for the typical middle-class family by about $1,000. But that tax cut is set to expire at the end of this month. If that happens, that same family will see its taxes go up by $1,000. We can’t let that happen. In fact, I think we should cut taxes on working families and small business owners even more.

And we’re going to keep pushing Congress to make this happen. They shouldn’t go home for the holidays until they get this done. And if you agree with me, I could use your help.

We’ve set up a simple tax cut calculator on WhiteHouse.gov so that you can see exactly what the stakes are for your family. Try it out. Then let your members of Congress know where you stand.

Tell them not to vote to raise taxes on working Americans during the holidays. Tell them to put country before party. Put money back in the pockets of working Americans. Pass these tax cuts.

We’re all in this together. The more Americans succeed, the more America succeeds. And if we remember that and do what it takes to keep this economy growing and opportunity rising, then I’m confident that we’ll come out of this stronger than before.