On Thursday, House Speaker Nancy Pelosi (D-Calif.) addressed how the Recovery Act influenced 2010 Tax Day outcomes.
"It is important to note on this day that 36 percent of the Recovery Act went to tax cuts. Tax cuts for the middle-class, tax cuts for small businesses tax cuts for green energy jobs for the future," commented Pelosi. "Refunds are up 10 percent, averaging about $3,000 [per] tax payer and 98 percent of Americans will receive a tax cut for 2009."
The Speaker said the third quarter report given by President Barack Obama yesterday estimates that the Recovery Bill saved or created up to 2.5 million jobs. However, she says Democrats are waiting for more legislation to open up more jobs for Americans.
"There are many indicators of turnaround in our economy, but still, many people do not have jobs so our focus was on the legislation ... for further job creation," she said.
Pelosi echoed the sentiments expressed recently by Bruce Bartlett, a former Reagan Policy Advisor, on tax reductions under Obama.
"Federal taxes are considerably lower, by every measure, since Obama became President," she said.
Pelosi Touts Tax Cuts
On Thursday, House Speaker Nancy Pelosi (D-Calif.) addressed how the Recovery Act influenced 2010 Tax Day outcomes.
"It is important to note on this day that 36 percent of the Recovery Act went to tax cuts. Tax cuts for the middle-class, tax cuts for small businesses tax cuts for green energy jobs for the future," commented Pelosi. "Refunds are up 10 percent, averaging about $3,000 [per] tax payer and 98 percent of Americans will receive a tax cut for 2009."
The Speaker said the third quarter report given by President Barack Obama yesterday estimates that the Recovery Bill saved or created up to 2.5 million jobs. However, she says Democrats are waiting for more legislation to open up more jobs for Americans.
"There are many indicators of turnaround in our economy, but still, many people do not have jobs so our focus was on the legislation ... for further job creation," she said.
Pelosi echoed the sentiments expressed recently by Bruce Bartlett, a former Reagan Policy Advisor, on tax reductions under Obama.
"Federal taxes are considerably lower, by every measure, since Obama became President," she said.