Obama Touts Benefits of the Tax Cuts Compromise in the New Year

Jan 8, 2011 6:00am

From Sunlen Miller:

 

President Obama uses his weekly radio address to highlight how in the New Year Americans will benefit from the tax cut package signed during the lame-duck session of Congress last year.

 

“We’re seeing more optimistic economic forecasts for the year ahead, in part due to the package of tax cuts I signed last month,”  President Obama says in his weekly address, “I fought for that package because, while we are recovering, we plainly still have a lot of work to do.”

 

Mentioning his stop Friday at the Thompson Creek Window Company in Maryland, the president says that businesses like this one, will be able to benefit from the compromised deal, and encouraged all businesses to do the same.

 

“For one year, any business, large or small, can write off the full cost of most of their capital investments,” Obama said, “So, if you’re a business owner, I’d encourage you to take advantage of this temporary provision. It will save you money today and help you grow your business tomorrow. “

 

Also included in the tax cut package was a payroll tax holiday, which the president in his weekly address touts that a typical family will see $1,000 more in their paycheck this year.

 

“In fact, 155 million workers will see larger paychecks this month as a result of this tax cut.”

 

Taken as a whole the president says the tax cuts package will accelerate the pace of the economy, spurring additional jobs and growth.

 

“That is our mission.  That should be the focus, day in and day out, of our work in Washington in the coming months, as we wrestle with a challenging budget and long-term deficits. “

 

The president said that the tax cut bill, along with other passed legislation in December in the waning days of the last session of Congress were a “much-needed departure” from the pattern of politics where “symbolic battles” consumed Washington, “while the rest of America waits for us to solve problems.”

 

-Sunlen Miller

 

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