President Barack Obama told an audience in New Hampshire on Tuesday that their taxes would go up an average of $1,000 to $1,500 unless the payroll tax cut were extended and expanded as part of his jobs bill.
Speaking at a high school in Manchester, N.H., the day after a congressional supercommittee failed to produce a deal to cut the budget deficit and pass an extension of unemployment insurance and his payroll tax cut, Obama pointed out that he had signed into law two tax breaks on Monday that had been part of his jobs package (see Obama Signs Veterans Hiring Tax Credit Law). However, he noted that the majority of his jobs bill has been blocked by Republicans in Congress and he urged the audience to contact their lawmakers and press for an extension of the payroll tax cut.
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