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THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

July 25, 2012

Statement by President Obama on the Passage of the Middle Class Tax Cut Extension

With the Senate’s vote, the House Republicans are now the only people left in Washington holding hostage the middle-class tax cuts for 98% of Americans and nearly every small business owner.  The last thing a typical middle class family can afford is a $2,200 tax hike at the beginning of next year.  It’s time for House Republicans to drop their demand for another $1 trillion giveaway to the wealthiest Americans and give our families and small businesses the financial security and certainty that they need.  Our economy isn’t built from the top-down, it’s built from a strong and growing middle class, and that’s who we should be fighting for.

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