By the Numbers: 97 Percent
03:32 PM EST
President Obama is calling on Congress to extend the middle class tax cuts for the 98 percent of Americans making less than $250,000 for another year—a proposal that will also extend tax cuts for 97 percent of all small business owners in America. If Congress fails to act, a typical middle-class family of four will see its taxes go up by $2,200, and America’s small business owners would take a big hit.
President Obama believes that entrepreneurs and small businesses are engines of economic growth and are at the forefront of the nation's economic recovery, which is why he’s already cut taxes for small businesses 18 times. And most people—including the President—agree that now is not the time to raise taxes on middle class families or small businesses.
Middle class families should have the certainty and security of knowing their taxes won’t go up in six months, and President Obama's message to Congress is clear: Pass a bill extending the tax cuts for the middle class and small businesses and he’ll sign it tomorrow.