DES MOINES -- On Tuesday, July 10, President Obama will travel to Cedar Rapids, Iowa, where he will visit the home of Jason and Ali McLaughlin to discuss the need for Congress to extend middle-class tax cuts that would prevent a tax hike on all families earning less than $250,000. The President believes our economy grows from the middle out and that's why his plan would prevent a $2,200 tax burden on families like the McLaughlins. Currently, as a result of the tax cuts President Obama has already signed into law, the McLaughlins will receive a total of about $4,900 in tax relief over the President's first term.
In addition to the President's call to extend middle-class tax cuts, his plan would also 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.
Following his roundtable with the McLaughlins, the President will deliver remarks at a grassroots event at Kirkwood Community College in Cedar Rapids, where he 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.
