Treasury Orders Paycheck Tax Reductions

Barack Obama Taxes Your next paycheck could be a little bit bigger thanks to the economic stimulus package.

by Associated Press

Published: Sat, February 21, 2009 - 1:03 pm CST Last Updated: Sat, February 21, 2009 - 1:10 pm CST

WASHINGTON (AP) - The Treasury Department has begun directing
employers to reduce the amount of taxes withheld from people's
paychecks.
It's part of the economic stimulus package President Barack
Obama signed into law this week. Treasury is directing employers to
make the changes as soon as possible and no later than April 1.
In his weekly radio and Internet message, Obama says the measure
will mean a typical family will bring home at least $65 more every
month.
His ambitious $787 billion package of federal spending and tax
cuts aims to revive the economy and save or create 3.5 million or
more jobs. It's intended to inject a sudden boost of cash into
transportation, education, energy and health care. It also offers
extended unemployment benefits.
Obama says the stimulus bill is "only a first step on the road
to economic recovery." He says the country also needs to repair
the banking system, get credit flowing again and stem foreclosures.

WKRG.com » News Stream » Financial

Photo

WKRG.com Related

Data –› Unclaimed IRS Tax Rebates

Discuss this in the forum

Email to a Friend

Printer Friendly

Wait4Me Says:

Sun, Feb 22, 2009 at 5:03 pm

Hope,
Helping
Ourselves to the
Pockets of
Everyone that works

Change,
Common
Hardworking
Americans
Need to
Give
Everything

southfan1981 Says:

Sun, Feb 22, 2009 at 12:09 pm

My favorite presidential declaration had to do with MISSION ACCOMPLISHED.

I vote for the Constitution.

Wait4Me Says:

Sun, Feb 22, 2009 at 8:20 am

South, its not the fact that 65 dollars will pay or will not pay for the items you listed, its the fact that in due time with the type of government we have in charge right now (that being democratic) has no problem and wants to raise taxes on all. So far the many campaign promises and comments made by our President that have not come to fruition, therefore we should expect the 65 dollars to be taken away in taxes before the end of the year.

carl Says:

Sun, Feb 22, 2009 at 7:54 am

What in the world do you have Southfan? a 200 square foot house and a five gallon hot water heater,2 florescent bulbs and drive a motor scooter and live off of peanut butter and crackers ? Just pulling your leg a little,sounds like you are really coserving on everything.

southfan1981 Says:

Sun, Feb 22, 2009 at 2:55 am

That’s two tanks of gas, it’s enough to pay two months of water bill, half my monthly winter electric bill, basic groceries for the pantry, more I can tithe. IF American’s paid AT THE PUMP what gas really costs, there would be riots. Exactly what would make you happy?

Mom2AngelBaby Says:

Sat, Feb 21, 2009 at 11:21 pm

$65 bucks more a month is just the cushion for the gas prices that are slowly on the rise again..So typically its not going back into our pockets, but back into the governments!