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VoteGopher | President Obama on Taxes and Spending
PRES. OBAMA VS. CAND. OBAMA
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President Obama on Taxes and Spending

PRESIDENT OBAMA
ACTIONS IN OFFICE

  • NEW: Released a budget plan to cut the deficit from over $1 trillion to about $500 million by 2013

  • Signed economic stimulus bill containing $301 billion in tax cuts, including a $400 tax cut for any worker making less than $75,000 per year

  • Will raise revenue by allowing the Bush tax cuts on upper-income earners to expire after 2010, keeping the estate tax at 2009 levels, and increasing IRS pursuit of tax shelters and loopholes

  • Will cut spending on the war in Iraq and Medicare Advantage payments to insurance companies
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