Obama Continues Push for Payroll Tax Cut Extension
President Barack Obama continues his push Tuesday to get Congress to extend a payroll tax cut, a day after House Republican leaders agreed to remove an obstacle in the passage of the tax cut extension.
Obama released Tuesday a video about what he called the need to extend the tax cut by the end of the month or a family making about $50,000 a year could lose $40 in every paycheck.
In the video, Obama urges people to go to social networking sites to speak about how this loss of income would affect them.
“We all need you to speak out,” Obama said. “Because if Congress does not act soon taxes on the middle class will go up.”
On Monday, House Republican leaders dropped a key demand that the cost of extending the payroll tax cut be offset by spending cuts elsewhere in the budget.
That decision, a sharp turnaround for House Republicans, removes a major obstacle to passage of the tax cut extension for the rest of the year — a move that has been in question.