Among the highlights of President Obama’s State of the Union address plans to pull the American family out of economic plight is a $500 tax credit for two-earner families.
Here’s how the White House presented it in a fact sheet: “Provide a new, simple tax credit to two-earner families. The president will propose a new $500 second earner credit to help cover the additional costs faced by families in which both spouses work — benefiting 24 million couples.”
The provision is included in his effort “to help middle class families get ahead.” Like who? Administration officials said families earning up to $210,000 would get a piece of the tax credit. That is four-times the earning of the “typical” middle class income of $51,939 calculated by the Obama-supporting Center for American Progress.