Obama to propose tax hikes for wealthy Americans

Increases designed to fund credit for middle class, community college plan

President Barack Obama delivers the State of Union address before a joint session of Congress in the House chamber Tuesday, Jan. 28, 2014, in Washington, as Vice President Joe Biden, and House Speaker John Boehner of Ohio, listen. (AP Photo/Larry Downing, Pool)

WEST SPRINGFIELD, Mass. (WWLP) – President Barack Obama will deliver his second-to-last State of the Union address Tuesday night. In it, the president is widely expected to talk about easing financial burdens on middle class families. His solution: tax hikes for the wealthiest Americans.

The proposal includes increasing the capital gains rate to 28%, for couples making more than $500,000 dollars per year. That money, along with other new taxes and fees on the wealthy, would go toward initiatives like a $500 tax credit for families with two working spouses, and a $60 billion dollar program to make community college free.

Senator Marco Rubio (R-Florida), who is considering a run for the White House, said increasing taxes on successful people, won’t help struggling people become more successful.

Voter Garrett Erwin of West Springfield told 22News Congress needs to compromise to help the true average American.

“The middle class, the politicians talk about helping the middle class but I do not think they’ve done a great deal,” Erwin said. “I tend to think the Democratic Party is a party more for the poor people than the middle class. Republicans are more for the rich.”

We also expect to hear from the president on topics such as the official end of the Afghan war, efforts to combat ISIS in Iraq and Syria, and an update on controlling the Ebola outbreak. You can watch the president’s state of the union and hear the Republican response Tuesday night at 9:00 on 22News and on WWLP.com.

Comments are closed.