Obama Administration

Accomplishments on Taxes

  • Families with three or more children have their taxes reduced $200-$600 through the permanent expansion of the Child Tax Credit
    Dec 18 2015
  • College students can claim $2,500 towards tuition, fees, and course material on their taxes after the extension of the American Opportunity Tax Credit
    Dec 18 2015
  • Employee social security payroll tax reduction from 6.2% to 4.2 % extended through 2012
    Feb 22 2012
  • Self-employed social security payroll tax reduction from 12.4% to 10.4 % extended through 2012
    Feb 22 2012
  • $186 billion in tax relief for all tax payers by extending the Bush income tax cuts for 2010 & 2011
    Dec 17 2010
  • $136 billion in tax relief for 21 million middle class households through patch to the Alternative Minimum Tax for 2010 & 2011
    Dec 17 2010
  • $111 billion in tax relief for workers by a reducing social security payroll tax from 6.2% to 4.2% for 2011.
    Dec 17 2010
  • Tax credits to employers who keep new hires for 52 weeks to encourage retention of new hires
    Mar 18 2010
  • $28.6 billion net public benefit in income taxes and social security taxes paid because liquidation of GM and Chrysler avoided
    2009