President Obama made the following promise:
"I will cut taxes — cut taxes — for 95 percent of all working families." — 8/28/08, Denver, Colorado
Other promises regarding taxes.
UPDATES:
Updated: February 17, 2009
Final Stimulus Includes a Tax Credit
An $800 tax credit per couple was included in the final version of the American Recovery and Reinvestment Act of 2009 signed by Obama. This is lower than the $1,000 per couple in hiss original plan, but it may still be possible for him to keep his promise. Check back for future updates.
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Updated: February 11, 2009
Stimulus Compromise Scales Back Tax Credits
The stimulus compromise includes an $800 tax credit for couples making up to $150,000; beyond that, the credit diminishes until it phases out at $200,000. This is a step down from Obama's original plan of $1,000 per couple.
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Updated: January 29, 2009
Houses Passes Stimulus Bill, Approves Tax Cuts
The House-approved stimulus bill includes a tax cut of $1,000 per married couple for two years. Taken with a $500 credit for single workers, this would cost about $145 billion.
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