from BBC News Online, 21 February 2009
President Barack Obama has said US tax bills will begin to fall from April, hailing a tax cut he called the fastest ever to take effect.
In his weekly radio and internet address, President Obama said the typical American family would gain by at least $65 (£46) a month.
He also pledged to cut America's trillion-dollar deficit.
The tax cuts announced on Saturday are part of a $787bn stimulus plan approved by Congress earlier this week.
The stimulus plan, aimed at reviving the US economy amid a global economic crisis, is split into 36% for tax cuts and 64% percent allocated for spending on social programmes.
Mr Obama said the US treasury had already begun directing employers to reduce the amount of taxes claimed from pay cheques.
The savings will reach 95% of American families, he said.
"Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," the president said.
In his weekly radio and internet address, President Obama said the typical American family would gain by at least $65 (£46) a month.
He also pledged to cut America's trillion-dollar deficit.
The tax cuts announced on Saturday are part of a $787bn stimulus plan approved by Congress earlier this week.
The stimulus plan, aimed at reviving the US economy amid a global economic crisis, is split into 36% for tax cuts and 64% percent allocated for spending on social programmes.
Mr Obama said the US treasury had already begun directing employers to reduce the amount of taxes claimed from pay cheques.
The savings will reach 95% of American families, he said.
"Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans," the president said.
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