"My number one priority is to do what’s right for the American people, for jobs, and for economic growth," said President Obama during a press conference this afternoon on the middle class tax cuts and unemployment insurance agreement.
The agreement secures vital tax relief and investments in our workers that will create jobs and accelerate economic growth. The plan has three key accomplishments:
- Working families will not lose their tax cut: A typical working family faced a tax increase of over $3,000 on January 1st. That’s avoided under this framework agreement, and working families won’t see their tax cuts go away next year.
- Focused on high impact job creation measures: The framework agreement includes some of the best measures for jumpstarting growth and job creation, including a full year of emergency unemployment insurance benefits, an about $120 billion payroll tax cut for working families and a continuation of tax credits for working families. This is on top of growth generated by extension of the middle-class income tax rates.
- Does not worsen the medium- and long-term deficit. These are responsible, temporary measures to support our economy that will not add costs by the middle of the decade. The President does not believe it is affordable to make the high-income tax cuts permanent and will continue to have that debate in the years ahead.
Fonte: White House