White House Tool Helps American Taxpayers Save More, Maximize Recovery Act Tax Cuts NEWS FROM THE FLORIDA DEMOCRATIC PARTY
For Immediate Release: April 15, 2010
Thurman Highlights Recovery Act Tax Savings For Middle Class Families On Tax Day
White House Tool Helps American Taxpayers Save More, Maximize Recovery Act Tax Cuts
Today is the deadline for Floridians to file their 2009 taxes, and the White House is working hard to ensure that American families collect every dollar they’re owed, including money available under massive new Recovery Act tax breaks.
This year, largely because of Recovery Act savings programs, average tax refunds are up nearly 10 percent, despite Republican rhetoric to the contrary. In fact, President Obama and Democrats in Congress cut individuals’ federal tax bills for this year by approximately $173 billion. And over the life of the Recovery Act, Americans can expect to save around $300 billion in taxes. But with just hours left to file, some Americans have yet to claim their tax savings. Now, the White House is making it easier for Americans to figure out their tax benefits before they file with a new tax savings calculator, available here.
The savings calculator highlights new Recovery Act tax benefits including: the Making Work Pay tax credit; expanded tax credits for families; and tax savings for new home buyers, Americans who received unemployment payments, and Americans with children in college.
Today, Florida Democratic Party Chair Karen Thurman drew attention to the tax savings calculator and highlighted the many benefits available to Floridians.
“The Recovery Act authorizes almost $300 billion in tax benefits, which will help middle class families make ends meet and revitalize the American economy,” said Thurman. “As a result, families are receiving record tax refunds – on average $266 more than last year. Whether Americans bought a home or a car, sent their child to college, made green home improvements, or simply continued life as usual, they can expect a bigger tax break that will help them as our economy begins to recover. We want to make sure that every Floridians knows about and is able to take advantage of these incredible benefits that the President and Democrats in Congress fought so hard to give them.”