Last year, millions of Americans received unemployment checks. Which makes for millions of people with some tax-free income. Congress made the first $2,400 of unemployment benefits exempt from federal income tax for last year.
President Barack Obama's push to create jobs includes a new tax credit for small businesses that add employees, an idea that has appeal as the nation struggles with an unemployment rate topping 10 percent.
Previewing key elements of his State of the Union address, President Barack Obama is announcing on Monday a series of initiatives aimed at calming some of the economic fears of struggling middle class families.