President Obama's Weekly Address 7/14/12: It’s Time for Congress to Pass the Middle Class Tax Cut Extension

WASHINGTON, DC— In this week’s address, President Obama called on Congress to act now to extend tax cuts for the 98% of Americans making less than $250,000 for another year. If Congress fails to act, taxes will go up on January 1st and will be a blow to millions of middle class families and to our economy. Both parties agree on extending the tax cuts for the middle class, and the President believes it’s time for Congress to act so that we can give the middle class and our small businesses the certainty they need as we work to create an economy that is built to last.