President Obama Wednesday praised Congress for extending a cut to the payroll tax credit.
Obama credited the success in part to an effort by his administration to have citizens around the country contact their members of Congress to let them know what the estimated extra $40 per paycheck would mean to them.
Congressional Republicans had initially held out reservations about how the proposed extension could add to the deficit, but relented last week.
"Congress did the right thing here. They listened to the voices of the American people," Obama said. "We passed some important reforms to help turn unemployment insurance into reemployment insurance, so that more people get training and the skills they need to get back in a job."
He added, "We passed an initiative that will create jobs by expanding wireless broadband and ensuring that first responders have access to the latest lifesaving technologies."
Obama said that the bill had shown what can be done when everyone in Washington works in the interests of the middle class and those striving to reach it.
"That's what Americans expect, and that's what Americans deserve," he said. "Now my message to Congress is: Don't stop here. Keep going."
He added, "Keep taking the action that people are calling for to keep this economy growing."
Obama said that Congressional Republicans might be tempted to block further action in an effort to help his potential GOP presidential rivals, but he urged them away from that course of action.
"This may be an election year, but the American people have no patience for gridlock and just a reflexive partisanship, and just paying attention to poll numbers and the next election instead of the next generation and what we can do to strengthen opportunity for all Americans," he said.
He added, "Americans don't have the luxury to put off tough decisions. … There's a lot more we can do -- and there's plenty of time to do it -- if we want to build an economy where every American has a chance to find a good job that pays well and supports a family."
Specifically, Obama said he wants to see Congress do more to help homeowners refinance their mortgages, support small business exports and reform the tax code so that the wealthiest Americans pay more.
"These are things we can do today," he said. "It shouldn't be that difficult."
But should Congress refuse to act, Obama said his administration would work to take whatever steps it can to keep the economic recovery going.
"We've got a choice right now," he said. "We can either settle for a country where a few people are doing very well and everybody else is having to just struggle to get by, or we can build an economy where everybody gets a fair shot, and everybody is doing their fair share, and everybody is taking responsibility, and everybody is playing by the same set of rules."
He added, "That's the economy that I want."
Obama noted that while there had been progress, there are still challenges and struggles ahead.
"We've got to have a return to some homespun American values: hard work, fair play, shared responsibility. That's who we are as a people," he said. "When times are tough, Americans don't give up. They push ahead. They do whatever it takes to make their lives better, their communities better and their countries better."
He added, "And with or without Congress, every day I'm going to be continuing to fight for them."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.