Today, President Obama is traveling to my hometown of Scranton, Pennsylvania to meet with residents to discuss the importance of extending and expanding the payroll tax cut that has given crucial tax breaks to millions of families across the country over the past year. If Congress passes the proposal laid out by the President, families in Scranton – including my friends and neighbors– would see that tax cut continued, and could receive more than $500 in addition to what they are currently receiving next year. However, if they fail to act, all those families in the Lackawanna River valley – and millions of others across the country – will see their taxes increase – potentially by $1,000 a year! That is just plain unacceptable.
As he has shown time and time again over the last three years, President Obama will continue to fight to strengthen the economy and rebuild the middle class by restoring the basic values that made our country great. America prospers when hard work pays off and responsibility is rewarded – and when everyone, from workers in the Electric Cityto Wall Street, does their fair share and plays by the same rules.
The fact is, our economic problems weren’t caused overnight, and they won’t be solved overnight. It will take time to rebuild our economy. It will take time to rebuild an economy that restores security for the middle class and renews opportunity for folks trying to reach the middle class. We need to rebuild an economy that’s based not on outsourcing, tax loopholes, and risky financial deals, but one that’s built to last – one where we invest in things like education and small businesses and manufacturing things the rest of the world buys.
The President and this Administration have spent the past three years cutting taxes for ordinary, middle class Americans, and he’ll continue to fight for the middle class. As Vice President Joe Biden – another Scranton native – has said over and over again, “a strong middle class equals a strong America… we can’t have one without the other.” An extension of the payroll tax cut is an important step to rebuilding and strengthening America’s middle class in places like Scranton, and all across America.
Rebuilding our nation will take time. But we are going to get it done. We are going to keep fighting. It’s time for Congress to get to work and extend and expand the payroll tax cut for millions of Americans across the nation.