November 30, 2012 at 15:30 PM EST
President Obama: The Sooner We Get This Done, the Sooner Our Economy Gets a Boost
President Barack Obama examines a K'NEX rollercoaster with Michael Araten, President and CEO of K'NEX and Rodon Group, right, during a tour of the company in Hatfield, Pa., Nov. 30, 2012. (Official White House Photo by Chuck Kennedy) Today, President Obama spoke at a toy factory in Hatfield, Pennsylvania about extending tax cuts for middle-class families . The Rodon Group, a third-generation family owned business, manufactures Tinkertoy and K’NEX building sets. The company depends on the many Americans who buy gifts for family and friends during the holiday season. But, if Congress doesn’t act before the end of the year, every family in America will see their income taxes automatically go up on January 1 , President Obama said. A typical middle-class family of four would see their income taxes go up by about $2,200. That’s for a typical family -- it would be more for some folks. That’s money a lot of families just can’t afford to lose. That’s less money to buy gas, less money to buy groceries. In some cases, it means tougher choices between paying the rent and saving for college. It means less money to buy more K’NEX. “And when folks are buying fewer clothes, or cars, or toys, that’s not good for our businesses; it’s not good for our economy; it’s not good for employment,” President Obama explained. read more
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