President Obama spoke this afternoon at Scranton High School in Scranton, Pennsylvania to inform the American people on the dire need to extend the payroll tax cut, a section in the American Jobs Act. Congresswoman Eddie Bernice Johnson offered the following statement:
“The President’s payroll tax cut is an important piece of legislation that will benefit 160 million Americans by giving families an extra $1,500 a year. This is a necessary act that will give relief to working families, businesses, and ignite economic growth.
The tax cuts will be paid by implementing a small 3.25 percent surtax on income over $1 million a year. I stand by President Obama and believe that it’s time for the wealthiest Americans to pay their fair share.
If we don’t act now, Americans will feel the weight of owing $1,000 or more in tax increases, at a time when the nation is experiencing 9 percent unemployment and continued financial insecurity.”
