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New Tool Lets Families Calculate How Much Money Middle Class Tax Cut Would Put In Their Pockets

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NEWS FROM THE FLORIDA DEMOCRATIC PARTY
For Immediate Release: December 5, 2011
Contact: Brannon Jordan, (850) 222-3411

New Tool Lets Families Calculate How Much Money Middle Class Tax Cut Would Put In Their Pockets
President’s plan would save American families an average of $1,500

Tallahassee, FL - Continuing the effort to put more money into the pockets of the middle class, the Obama-Biden campaign has released a new online calculator that computes what an extension and expansion of the payroll tax cut would mean for American families.

View the calculator at: http://www.barackobama.com/tax-calculator

“In these tough economic times, the last thing the people of Florida need is for Republicans in Congress to raise taxes on working families,” said Florida Democratic Party Chairman Rod Smith. “I urge you to contact your members of Congress and tell them to pass these tax cuts that will save Florida families on average $1,500.”

Under President Obama’s plan, most families would save $1,500 a year in taxes. The plan also provides incentives for nearly six million small businesses to grow and hire new workers.

This is in stark contrast to a plan from Mitt Romney, which overwhelmingly favors the richest Americans. Almost half of the money he'd give away each year would go to the wealthiest 1-percent.