Printed in House
Paid for by Obama for America
BARACK OBAMA’S COMPREHENSIVE TAX PLAN
Barack Obama’s tax plan delivers broad-based tax relief to middle class families and cuts taxes for small
businesses and companies that create jobs in America, while restoring fairness to our tax code and returning to
fiscal responsibility. Coupled with Obama’s commitment to invest in key areas like health, clean energy,
innovation and education, his tax plan will help restore bottom-up economic growth that helps create good jobs
in America and empowers all families achieve the American dream. The Obama plan will:
• Cut taxes for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for
• Provide generous tax cuts for low- and middle-income seniors, homeowners, the uninsured, and families
sending a child to college or looking to save and accumulate wealth.
• Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create
jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward
investments in innovation.
• Dramatically simplify taxes by consolidating existing tax credits, eliminating the need for millions of
senior citizens to file tax forms, and enabling as many as 40 million middle-class Americans to do their
own taxes in less than five minutes without an accountant.
Under the Obama Plan:
• Middle class families will see their taxes cut – and no family making less than $250,000 will see
their taxes increase. The typical middle class family will receive well over $1,000 in tax relief under
the Obama plan, and will pay tax rates that are 20% lower than they faced under President Reagan.i
According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle
class families as the McCain plan.ii Indeed, according to the National Review, McCain’s plan “offers
very little in the way of direct benefits to Americans in the middle o