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President Obama's Tax Policy "Guiding Principles"


President Obama's Tax Policy
Roger Wollenberg/Getty Images
Updated April 07, 2010
The following article sets forth President Obama's basic goals and underlying principles for tax policies and plans under his administration.

The White House
Taxes - Guiding Principles

Restoring Fairness

"For too long, the U.S. tax code has benefited the wealthy and well-connected at the expense of the vast majority of Americans. President Obama’s aims to restore fairness to the tax system by providing the Making Work Pay tax cut to 95 percent of working families while closing loopholes that prevent wealthy companies and individuals from paying a fair share.

Supporting the Middle Class

"The President will also make it easier for more Americans to save for college education, homeownership, and retirement by expanding tax preferences that currently benefit only the wealthy.

Making Taxes Consistent and Simple

"In addition, the President supports making refundable tax credits permanent and simplify confusing provisions in the tax code, encouraging saving and creating a tax system that works for all Americans."

Source - The White House website, April 2010

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