President Obama's weekly address

As Congress prepares to focus on taxes when it returns to work later this month, President Obama calls on both parties to work together and focus on the areas where all sides agree. First, the President underscores that middle-class families need permanent tax relief, so Congress should permanently extend tax cuts for all families making less than $250,000 a year – 98 percent of the American people. And second, he notes that, with the nation’s challenging fiscal situation, the country simply cannot afford to borrow another $700 billion on permanent tax cuts for millionaires and billionaires.