VIDEO, HIGHLIGHTS: President Obama on Extending Middle Class Tax Cuts
Earlier today, the president delivered remarks at an event at the White House with middle class Americans, saying they will see their taxes go up if Congress fails to act before the year-end fiscal cliff. Watch part of the remarks, and read highlights below:
Goal Is for Fair and Balanced Resolution
"Our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. That kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and I believe that both parties can agree on a framework that does that in the coming weeks."
Without Action, Taxes Will Go Up
"The place where we already have in theory at least complete agreement right now is on Middle Class taxes and as I've said before we've got two choices. If Congress does nothing, every family in America will see their taxes automatically go up at the beginning of next year."
Up to Congress to Prevent Tax Hike
"Now the good news is there's a better option. Right now, as we speak congress can pass a law that would prevent a tax hike on the first 250,000 dollars of everybody's income … everybody's. And that means that 98 percent of Americans and 97 percent of small businesses wouldn't see their income taxes go up by a single dime."
With GOP Agreement, Bill Can Be Signed
"If we can get a few House Republicans to agree as well, I'll sign this bill as soon as Congress sends it my way. I've gotta repeat, I've gotta pen (Obama waves pen), I'm ready to sign it."
Get It Done
"Optimistically ... I don't think we're going to get it done tomorrow. But I tell you, if everybody here goes out of their way to make their voices heard and spread the word to your friends, your family, your co-workers, your neighbors ... then I am confident we will get it done."