4. Tax Relief for Every American Worker and Family
In order to allow young Americans to keep more of their hard-earned money, Obama plans to cut the payroll tax in half next year. This will benefit the 45.5 million people under 30 who pay payroll taxes.
5. Fully Paid For As Part of the President’s Long-Term Deficit Reduction Plan
One concerned Open Questions participant asked about how all these programs and tax cuts will be paid for. Pyle described how the American Jobs Act is included in Obama’s long-term plans for deficit reduction.
All of this sounds great, and I would love to jump on the bandwagon for the American Jobs Act. But my question (which did not get selected) is: How are we going to make sure that the American Jobs Act ensures long-term improvements in the economy and unemployment rate?
I am 23 years old and have few responsibilities. I only need to feed and clothe myself. I could move back in with my parents if I really needed to. While it would be great to have a permanent, salaried job with benefits right now, I am more concerned about ten or fifteen years down the road when I am married, have a family and need to save for retirement while making mortgage payments.
The American Jobs Act is a step in the right direction, but next year’s tax cuts don’t give me a lot of hope that the President is laying down infrastructure for the next twenty years. I am glad that the White House provided America’s youth with the opportunity to ask questions about how this proposed act will affect us over the next year or two — but there ultimately needs to be more focus on the long-term for the American Jobs Act to succeed.
Photo Credit: TexasGOPVote.com
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