Skip to content
Subscriber Only

Obama Delivers on Tax Cut Promises

President Barack Obama campaigned in 2008 on tax cuts for most Americans and tax increases for the fortunate few. He has delivered on the breaks and, for the most part, been unable to follow through on attempts to raise taxes.

Obama turned his call for middle-income tax breaks into law within a month of taking office, incorporating a $400-a-person tax credit for workers into the 2009 stimulus law. In late 2010, with the economy still weak and Republicans gaining political clout, Obama agreed to an $858 billion tax cut that extended all of the George W. Bush-era tax cuts for two years.