Obama Will Preview Package of Middle Class Tax Cuts

Hans Nichols
January 25, 2010

President Barack Obama today will preview a package of tax cuts for the middle class, including an increased tax credit for child care, limits on student loan payments, and an expansion of tax credits to match retirement savings, according to an administration official.

[efoods]The proposals preview one of the main themes the president plans to sound in his State of the Union Address on Jan. 27, said the official, who spoke on condition of anonymity. The plan was earlier reported by the New York Times.

The president will propose a requirement that all companies, regardless of size, allow their employees to enroll in direct-deposit retirement savings accounts.

At an event with Vice President Joe Biden this morning, Obama will announce a plan to enact new safeguards to protect retirement savings.


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