President Obama spokeabout his plan to extend middle-class tax cuts that would prevent a tax hike on all families earning less than $250,000 in a speech at Kirkwood Community College in Cedar Rapids, Iowa. According to the Obama campaign, the President will "continue to outline his plan to build an economy that is grown from the middle out, not from the top down, where everyone has a fair shot to succeed and plays by the same set of rules."
Prior to this event, the President visited the home of Jason and Ali McLaughlin in Cedar Rapids where he will discuss his middle-class tax cut plan which would "ask millionaires and billionaires to pay their fair share and let the Bush-era tax cuts for the wealthiest expire, which would help families like the McLaughlins send kids to college, buy new homes, pay for health care and child care, and help the economy recover from the worst financial crisis since the Great Depression. This is part of the President’s plan to cut the deficit by more than $4 trillion and make investments that strengthen the middle class while cutting spending and ensuring that everyone pays their fair share."
On Monday at the White House, the President called Congress to extend tax cuts for only low and middle income earners while allowing taxes to increase for families that make more than $250,000 a year. "Let's not hold the vast majority of Americans and our economy hostage while we debate the merits of another tax cut for the wealthy," he said.