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Posts Tagged ‘Obama Weekly Address’

Obama Weekly Address Slams Banks For Selfishness: ‘It’s A Sight To See’ (VIDEO)

First Posted: 01-16-10 08:05 AM   |   Updated: 01-16-10 09:42 AM

DARLENE SUPERVILLE, Associated Press

WASHINGTON – President Barack Obama on Saturday pitched his proposed tax on banks to recover the cost of bailing them out during the financial crisis, saying if they can afford billions more in bonuses, they can pay back the taxpayers, too.

The banks and Republican lawmakers oppose the tax, which Obama announced this week.

“We’re going to pass this fee into law,” the president said in his weekly radio and Internet address.

Congress must approve the tax and that was not assured, given the immediate opposition from Republicans. Democrats also appeared in jeopardy of losing their 60-vote majority in the Senate, with Democrat Martha Coakley in an unexpectedly close race against Republican Scott Brown in Massachusetts to fill the seat held for decades by the late Democrat Edward M. Kennedy.

Brown opposes Obama’s bank tax. Obama was heading to Massachusetts on Sunday to campaign for Coakley.

The White House’s decision to use the weekly address to speak about the proposed tax instead of the U.S. response to the suffering and devastation caused by the earthquake in Haiti suggested one line of attack Obama would use against Brown on Sunday.

VIDEO AND MORE HERE

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Obama: Tax Cuts Will Be Felt By April 1 (VIDEO)

AP |  LIZ SIDOTI   |   February 21, 2009 08:26 AM

WASHINGTON — The notoriously slow Congress passed the $787 billion economic stimulus package in a matter of weeks. President Barack Obama signed it into law less than one month into his presidency.

So, just how soon will Americans start reaping the benefits of tax cuts in it?

By April 1, according to the president.

“Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans,” Obama said Saturday in his weekly radio and Internet address.

He said the Treasury Department has begun directing employers to reduce the amount of taxes withheld from people’s paychecks in accordance with the new law, and that in six weeks, a typical family will start taking home at least $65 more every month.

Obama says his signature “Making Work Pay” tax break will affect 95 percent of working families.

The $400 credit for individuals is to be doled out through the rest of the year. Couples are slated to get up to $800. Most workers are to see about a $13 per week increase in their take-home pay. In 2010, the credit would be about $7.70 a week, if it is spread over the entire year.

MORE HERE

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Obama: Stimulus a ‘major milestone to recovery’

RAW STORY
Published: Saturday February 14, 2009

WASHINGTON (AFP) – US President Barack Obama early Saturday hailed a 787-billion-dollar economic stimulus plan passed by Congress, calling it “a major milestone on our road to recovery.”

“This is a major milestone on our road to recovery, and I want to thank the members of Congress who came together in common purpose to make it happen,” Obama said in his weekly radio address.

He promised to sign the package into law “shortly.”

The comments came after the US Congress late Friday approved a 787-billion-dollar package of tax cuts and fresh spending to salvage the broken US economy, handing the president his biggest yet political victory.

The Senate voted 60-38 to pass the measure hours after it cleared the House of Representatives by a lopsided 246-183 margin, setting the stage for Obama to sign the measure into law before his self-imposed February 16 deadline.

Obama expressed confidence that the plan “will save or create more than 3.5 million jobs over the next two years, ignite spending by business and consumers alike, and lay a new foundation for our lasting economic growth and prosperity.”

The legislation, a product of hard-fought negotiations this week, allocates 120 billion dollars to infrastructure spending, including monies for highways, trains and expanding broadband Internet access.

It also features nearly 20 billion dollars for renewable energy and 11 billion to modernize the US electrical grid — steps former vice president Al Gore warmly endorsed weeks ago as a major downpayment on Obama’s strategy for fighting climate change.

The bill includes tax cuts — expected to benefit 95 percent of US families — and tens of billions of dollars for extending unemployment benefits, bolstering healthcare for the least well-off and funds to help cash-strapped states avoid cuts in services like education.

MORE HERE

The following video was posted to WhiteHouse.gov on Feb. 14, 2009.

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