2/21/09: Your Weekly Address from White House on Vimeo.

Obama: Americans to See Tax Cuts by April 1

U.S. President Barack Obama says starting Saturday, February 21 2009 employers begin reducing taxes for 95 percent of working Americans who will see the benefits in paychecks by April 1.

In his weekly address, Mr. Obama said the average U.S. family will keep an extra $65 a month.

President Obama says that the tax cut will reach more Americans more quickly than at any time in the nation's history.

The tax cuts, which fulfill Mr. Obama's campaign promise, will be funded by a $787 billion stimulus package, the American Recovery and Reinvestment Act, adopted last week to create jobs and revive the deeply troubled economy.

In the weekly Republican response, Representative David Camp of Michigan said his party wants to work with Mr. Obama to rescue the nation's economy, but in what he called "a responsible way" that does not burden future generations with a mountain of debt.

Republicans in the Democratic-controlled Congress largely opposed the stimulus bill, complaining it has too much federal spending and too few tax cuts.

The president warned Saturday that the stimulus measure is only a first step toward turning around the economy, which has been hit hard by problems in the banking and housing sectors.


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