President Barack Obama
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Obama: Tax cut expiry would be massive blow

President Barack Obama warned there would be a "massive blow" to the American economy if Republicans refuse to back an extension of a payroll tax cut due to expire next month.

During a speech in Scranton, Pennsylvania, President Obama said most middle-class Americans would see their taxes go up by $1,000 "at the worst possible time" if Congress did not act to extend the tax cut.

  • 30 Nov 2011
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