POLICY SNAPSHOT

Progress

  • Prevented an income tax hike for 98 percent of Americans and nearly every small business, saving the typical family from paying about $2,000 more in taxes starting in 2013.
    Read about: keeping taxes low for middle-class families
    Read about keeping taxes low for middle-class families: http://wh.gov/UNjo
  • Provided tax relief to 95 percent of working families through the Recovery Act.
    Read about: the Making Work Pay Tax Credit
    Read about the Making Work Pay Tax Credit: http://wh.gov/3RJ
  • Created and extended a tax credit worth $10,000 over four years that helps 9 million families cover the cost of college.
    Read about: the American Opportunity Tax Credit
    Read about the American Opportunity Tax Credit: http://wh.gov/HaZk
  • Extended a tax credit that helps workers keep more of what they earn by continuing an expansion of the credit for married couples and larger families.
    Read about: the Earned Income Tax Credit
    Read about the Earned Income Tax Credit: http://wh.gov/jmb
  • Extended expanded tax relief for 35 million families with children. 12 million working families receive a larger child tax credit, including 5 million previously ineligible families.
    Read about: the Child Tax Credit
    Read about the Child Tax Credit: http://wh.gov/jmb
  • Launched a Federal Taxpayer Receipt to help American taxpayers understand exactly how their federal tax dollars are being spent.
    Read about: the Federal Taxpayer Receipt
    Read about the Federal Taxpayer Receipt: http://wh.gov/Qa5
Stop taxes from going up on 160 million workers

What's Next

  • Ensure the wealthiest Americans do their fair share by paying at least the same tax rate as middle class families so we can reduce the deficit in a balanced way while preserving investments in education, clean energy, manufacturing, and small businesses.
    Read about: balanced deficit reduction
    Read about balanced deficit reduction: http://wh.gov/UNjo
A full 22,000 households that made more than $1 million in 2009 paid less than 15% of their income in income taxes & 1,470 households managed to pay $0

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