On Wed., Feb. 22, President Barack Obama signed the Middle Class Tax Relief and Job Creation Act of 2012, which he introduced as part of his jobs plan in September and extends the payroll tax cut and emergency jobless benefits through the end of the year.
At a White House event on Tuesday, the president credited those who urged Congress to pass the $143 billion effort which will mean an extra $40 per paycheck for a typical worker:
This got done because of you; because you called, you emailed, you tweeted your representatives and you demanded action. You made it clear that you wanted to see some common sense in Washington. And because you did, no working American is going to see their taxes go up this year. That’s good news. Because of what you did, millions of Americans who are out there still looking for work are going to continue to get help with unemployment insurance. That’s because of you.
View his remarks below, and visit BarackObama.com to see how the extension affects you.
President Obama Speaks on the Payroll Tax Cut Extension