If the House of Representatives fails to extend the payroll tax cut in the next nine days, the typical family making $50,000 a year will have about $40 less to spend or save with each paycheck. Over the year, that adds up to about $1,000.
Opponents of the payroll tax cut dismissed its impact by insisting $40 isn’t a lot of money. We know that's not the case for many families who are already working hard to make ends meet, so on Tuesday, we asked them: What does $40 mean to you?
The response was overwhelming: more than 30,000 people have submitted responses through WhiteHouse.gov since Tuesday afternoon, and thousands more tweeted what $40 meant to them with the hashtag #40dollars. Responses came from all over the country and all 50 states, as represented on the map here. We’ve called out the stories of just a few of the many, many people who told us that losing $40 each paycheck would have serious consequences for them and their families.