Both Democrats and Republicans allowed the Payroll Tax Holiday to expire during the recent "Fiscal Cliff" negotiations. As a result, beginning in January, the net monthly disposable income of middle class families will decrease.
Middle class families are currently on track to lose roughly $1,000 in disposable income a year. This loss of income, of course, coincides with a slowly recovering and fragile economy--in short, an economy that could benefit from employees having more, and not less, money for investments, saving, and general spending.
This petition calls on President Obama to reinstate the 2012 payroll tax rate and, thus, allow middle class families to increase their net monthly pay.