What does $40 mean to you? If Republicans in the House of Representatives fail to extend the payroll tax cut by the end of this year, it will mean the average American family will see about $40 less every paycheck. As the White House blog points out:
“Opponents of the payroll tax cut dismiss its impact by insisting $40 isn’t a lot of money, but that’s not the case for many families who are already working hard to make ends meet. Forty dollars buys a tank of gas or a fridge and pantry full of groceries. It covers a water bill or the cost of a prescription.
“The payroll tax cut doesn’t just benefit the 160 million American workers who receive it, however. It also helps the economy as a whole. People spending money on goods and services generate business for stores and companies, who can then hire more workers, creating more jobs across the country.”
Find out more about how extending President Obama’s payroll tax cut will help middle-class families here.