Obama: We'll Feel Tax Cuts by April 1

Americans will see tangible results from the stimulus—more money in their wallets—by April 1, President Obama said today in his weekly radio address. “Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans,” he said. The Treasury department has begun ordering employers to withhold less from paychecks, and the average US family will take home $65 more per month, the AP reports.

The cut will help 95% of American families, Obama said, thanking leaders across the country for their help in passing the stimulus bill. But “it is only a first step on the road to economic recovery.” He planned a bipartisan “fiscal responsibility summit” for Tuesday and said he would send a budget to Congress Thursday “that's sober in its assessments” and “honest in its accounting.”
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