White House Office Hours: Agreement to Extend Middle Class Tax Cuts

Update: This session of Office Hours has concluded. Check out the full Q&A below, or at Storify.com/whitehouse.

This week, President Obama signed the American Taxpayer Relief Act of 2012 into law. That means middle-class families won't see an increase in their income tax rates, and the fiscal cliff has been avoided.

Do you have questions about the deal and how it will impact you? Brian Deese, Deputy Director of the National Economic Council, will be on hand to answer your questions during a session of White House Office Hours on Twitter with Yahoo! Finance.

Join us on Friday, January 4th at 11:30 a.m. ET for a live Twitter Q&A. Here’s how it works:

  • Ask your questions now and during the chat with the hashtag #fiscalcliff411
  • Follow the Q&A live through @WHLive and @YahooFinance
  • If you miss the Q&A, the full session will be posted on WhiteHouse.gov
Brian Deese Twitter Office Hours

During a session of White House Office Hours on Twitter, Brian Deese, the Deputy Director of the National Economic Council, answers questions about the new agreement to extend tax cuts for the middle class. January 4, 2013.


WH Office Hours: Agreement to Extend Middle Class Tax Cuts

Brian Deese, Deputy Director of the National Economic Council, answered your questions about the tax deal during a session of White House Office Hours on Twitter with Yahoo! Finance.

Storified by The White House· Fri, Jan 04 2013 10:03:50

Good morning! Ready for #FiscalCliff411? In a few min. we'll be joined by @WHLive's NEC's Brian Deese to answer Qs on the #FiscalCliff deal.Yahoo! Finance
Good morning everyone, Brian here. Happy to be joining @yahoofinance for this #fiscalcliff411White House Live
Q via @Farnoosh: #FiscalCliff deal addressed #taxes but not much re: #debt ceiling. What spending cuts will POTUS fight for? #FiscalCliff411Yahoo! Finance
POTUS will do more spending cuts & has specific proposals eg: http://www.whitehouse.gov/omb/budget/Overview. But needs to be balanced w new revenues #fiscalcliff411White House Live
Q from @YahooFinance's Facebook community: "What is on table to help cut #spending? Will we see #Veterans #benefits go away? #FiscalCliff411Yahoo! Finance
One impt piece of the tax deal was extending vets tax credit to give employers $5k+ incentive to hire returning heroes #fiscalcliff411White House Live
More generally, POTUS has firm commitment to protect core vets benefits even as we work to put in place addtl spending cuts #fiscalcliff411White House Live
Q via @aarontask: CBO says #fiscalcliff deal will increase the #deficit by $4T in next decade. How is that good policy? #FiscalCliff411Yahoo! Finance
Appreciate the q and chance to clarify bc CBO and green eyeshade budget baseline issues can be hard to interpret (1/2) #fiscalcliff411White House Live
But the deal's bottom line: wealthiest 2% pay higher taxes; that cuts deficits $737bn over 10yrs: http://wh.gov/U9hR (2/2) #fiscalcliff411White House Live
Members of @YahooFinance community planning to attend college ask: how does FiscalCliff deal help or hurt my financial aid? #FiscalCliff411Yahoo! Finance
Impt for anyone thinking of college: Deal extended $2500 college tax cut, so it's there for you to get through school. #fiscalcliff411White House Live
Q via @LaurenLyster: Has #MintTheCoin chatter over creation of trillion $ platinum coin re: debt ceiling reached West Wing? #FiscalCliff411Yahoo! Finance
Your tweet suggests we have...But congress has job to do re debt ceiling; its time they deal w bills they already racked up #fiscalcliff411White House Live
@WHLive Can you address the concern that #payroll #tax expiration might be harmful to the #economy? (via @RebeccaStropoli) #FiscalCliff411Yahoo! Finance
Payroll cut provided impt temporary econ support; this deal provides much-needed permanent certainty for midclass tax rates #fiscalcliff411White House Live
I need to run, but thanks for all the questions and to @yahoofinance. -Brian #fiscalcliff411White House Live
Thank you for tuning in to @YahooFinance's #FiscalCliff411 Twitter chat with the @WhiteHouse / @WHLive. Miss anything? Summary to follow...Yahoo! Finance
Learn more about what's in the Taxpayer Relief Act of 2012 in the latest White Board video:
White House White Board - American Taxpayer Relief Act of 2012whitehouse

Want to learn more about the deal? Here are seven things you need to know:

The Seven Things You Need to Know About the Tax Deal

To learn more about this agreement and what comes next, be sure to watch President Obama's full remarks.

Having trouble reading the graphic? Check out the text here.

Related Topics: Economy, Taxes