On Tuesday, President Obama asked Americans to tell him what losing $40 per paycheck would mean to them. Of the thousands that responded, we heard from many families, who sent us photos, tweets, and emails that illustrate just how important decisions made in Washington are to regular people across the country. They told us losing that income would make it more difficult to pay for college, to pay for childcare and even to pay for basic necessities like milk and medication.
At the end of this month, a two-month extension of the payroll tax cut will expire. If Congress doesn't act, taxes will go up on 160 million hardworking Americans. For a family making about $50,000 a year, the payroll tax cut amounts to about $1,000 a year, or about $40 in every paycheck. It may not seem like a lot of money to some people, but for single moms who wrote to us today, that money can make a big difference. Here are some of their stories:
Forty dollars a paycheck means everything to my family. It would mean that we could afford to continue to give our twins the basic necessities like food and milk. We buy 3 gallons of milk a week for them. Not to mention daycare costs — Jocelyn from Maryland
The $40 a paycheck that my husband and I would lose (I guess that means we would be losing $80 between the two of us) would make the difference in childcare for us. It is becoming harder and harder for a middle class family to even afford children! Costs continue to rise, putting a strain on our family budget. Please don't tax us further — Ginny from Kentucky
I am a student at the University of Illinois at Urbana- Champaign, while my twin brother is at the University of Illinois at Chicago. With both of us starting college at the same time, every dollar we make, and every dollar (outside the cost of living) our parents make goes towards paying our tuition. We already have to take out loans for our 2nd semester. That $40 paycheck means a college education- and all that goes into it. This includes books, supplies, living, food, etc. — Jennifer from Illinois
Tell us what $40 means to your family
Read more stories:
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$40 Means No Extras for My Students
$40 Could Be the Difference Between Eating or Not Eating
$40 Means an Inhaler for My Little Girl
Fonte: White House
