Obama Reminds Americans as Tax Day Nears: ‘I Kept a Promise’ to Cut Taxes
April 10, 2010
(ChattahBox)—As the tax filing deadline nears, President Obama used his weekly address to remind Americans they can look forward to a bigger tax return this year. Despite the falsehoods spewed by Fox News and Republican opponents, the Recovery Act, more commonly known as the Stimulus, saved jobs, staved off a depression and provided tax cuts for 95 percent of working Americans. During tough economic times, Americans can expect “welcome relief,” said Obama.
To keep up with all of the new tax credits this year, Obama is providing a Tax Savings Tool on the White House Web site, helping taxpayers to figure out “what savings they’re owed and how to collect them.” And the unemployed have not been forgotten this tax season. Obama reminds jobless Americans that the first $2,400 in unemployment benefits are tax free. And they are also eligible for a 65 percent tax credit to help cover the cost of health care.
With all of the new tax credits courtesy of the the Recovery Act, most Americans can expect to see their average refund increase by nearly ten percent:
“So far, Americans who have filed their taxes have discovered that the average refund is up nearly ten percent this year – to an all-time high of about $3,000. This is due in large part to the Recovery Act. In fact, one-third of the Recovery Act was made up of tax cuts – tax cuts that have already provided more than $160 billion in relief for families and businesses, and nearly $100 billion of that directly into the pockets of working Americans.”
President Obama points out the across the board new tax credits to help new home owners, college students and families:
“No one I’ve met is looking for a handout. And that’s not what these tax cuts are. Instead, they’re targeted relief to help middle class families weather the storm, to jumpstart our economy, and to bring the fundamentals of the American Dream – making an honest living, earning an education, owning a home, and raising a family – back within reach for millions of Americans.”
Obama also noted that the new healthcare reform law will also provide an additional middle-class tax cut when it’s fully implemented into law, because Americans making less than $250,000 will not see their taxes go up:
“It’s also important to note that the new health reform law includes the largest middle class tax cut for health care in history, and once it’s implemented; millions of Americans will finally be able to purchase quality, affordable care and the security and peace of mind that comes with it.”