President Barack Obama continues his push Tuesday to get Congress to extend a payroll tax cut, a day after House Republican leaders agreed to remove an obstacle in the passage of the tax cut extension.<\/p>\n
Obama released Tuesday a video about what he called the need to extend the tax cut by the end of the month or a family making about $50,000 a year could lose $40 in every paycheck.<\/p>\n
In the video, Obama urges people to go to social networking sites to speak about how this loss of income would affect them.<\/p>\n
“We all need you to speak out,” Obama said. “Because if Congress does not act soon taxes on the middle class will go up.”<\/p>\n
On Monday, House Republican leaders dropped a key demand that the cost of extending the payroll tax cut be offset by spending cuts elsewhere in the budget.<\/p>\n
That decision, a sharp turnaround for House Republicans, removes a major obstacle to passage of the tax cut extension for the rest of the year — a move that has been in question.<\/p>\n
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