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Obama Campaign Press Release - The Candidates on Middle Class Tax Relief: A Side-by-Side Look

April 30, 2008

Chicago, IL - With energy prices skyrocketing, middle class Americans are feeling more strained than ever. The Washington politicians are embracing a gas tax holiday-a short term measure that would only save consumers about 30 cents a day, without addressing the long-term problem. In fact, USA Today calls the proposal "political pandering." [USA Today, 4/29/08]

Barack Obama knows that working people aren't looking for gimmicks-they're looking for solutions that work for them. That's why he's the candidate proposing the most tax relief for the middle class: providing tax credits for college, health care, retirement, and expending the dependent child tax credit, the child care tax credit and the earned income tax credit, and providing a mortgage interest tax credit for homeowners who don't itemize their taxes. And Barack Obama is the only candidate offering a broad-based tax cut for the middle class. He'll enact a Making Work Pay tax credit worth $500 per individual or $1,000 per family. And he'll eliminate income taxes for seniors making less than $50,000.

Here's a side-by-side chart to help you compare the candidates' plans.




• $500 per individual, $1000 per family "Making Work Pay" tax credit to offset payroll tax. Benefits 95 percent of America's workers.

• None



• $500 universal mortgage interest tax credit for middle-class homeowners who do not itemize their taxes. Benefits 10 million Americans.

• None


• None

• Supports windfall profits tax on oil selling at or over $80 per barrel. Proceeds from the penalty would go toward relief mechanisms for consumers, funding and expanding LIHEAP

• Supports gas tax holiday that will save each driver only 30 cents a day and cost up to $10 billion

Barack Obama, Obama Campaign Press Release - The Candidates on Middle Class Tax Relief: A Side-by-Side Look Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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