Transcript: Obama's Speech To Congress

President Obama's Feb. 24 Speech To A Joint Session Of Congress

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Now, I know that the price of tuition is higher than ever, which is why if you are willing to volunteer in your neighborhood or give back to your community or serve your country, we will make sure that you can afford a higher education. (Applause.) And to encourage a renewed spirit of national service for this and future generations, I ask Congress to send me the bipartisan legislation that bears the name of Senator Orrin Hatch, as well as an American who has never stopped asking what he can do for his country -- Senator Edward Kennedy. (Applause.)

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In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2 percent of Americans. (Applause.) Now, let me be clear -- let me be absolutely clear, because I know you'll end up hearing some of the same claims that rolling back these tax breaks means a massive tax increase on the American people: If your family earns less than $250,000 a year -- a quarter million dollars a year -- you will not see your taxes increased a single dime. I repeat: Not one single dime. (Applause.) Not a dime. In fact, the recovery plan provides a tax cut -- that's right, a tax cut -- for 95 percent of working families. And by the way, these checks are on the way. (Applause.)

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