Within a month of the 2010 midterm elections, Obama announced a compromise deal with the Congressional Republican leadership that included a temporary, two-year extension of the 2001 and 2003 income tax rates, a one-year payroll tax reduction, continuation of unemployment benefits, and a new rate and exemption amount for estate taxes. The compromise overcame opposition from some in both parties, and the resulting $858 billion Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 passed with bipartisan majorities in both houses of Congress before Obama signed it on December 17, 2010.
On November 6, 2012, Obama won 332 electoral votes, exceeding the 270 required for him to be reelected as president. With 51.1% of the popular vote, Obama became the first Democratic president since Franklin D. Roosevelt to win the majority of the popular vote twice. Obama addressed supporters and volunteers at Chicago's McCormick Place after his reelection and said: "Tonight you voted for action, not politics as usual. You elected us to focus on your jobs, not ours. And in the coming weeks and months, I am looking forward to reaching out and working with leaders of both parties."More Info
In December 2007, Money Magazine estimated Obama's net worth at $1.3 million (equivalent to $1.6 million in 2019) . Their 2009 tax return showed a household income of $5.5 million—up from about $4.2 million in 2007 and $1.6 million in 2005—mostly from sales of his books. On his 2010 income of $1.7 million, he gave 14% to non-profit organizations, including $131,000 to Fisher House Foundation, a charity assisting wounded veterans' families, allowing them to reside near where the veteran is receiving medical treatments. Per his 2012 financial disclosure, Obama may be worth as much as $10 million.More Info
In December 2006, President Bush signed into law the Democratic Republic of the Congo Relief, Security, and Democracy Promotion Act, marking the first federal legislation to be enacted with Obama as its primary sponsor. In January 2007, Obama and Senator Feingold introduced a corporate jet provision to the Honest Leadership and Open Government Act, which was signed into law in September 2007. Obama also introduced two unsuccessful bills: the Deceptive Practices and Voter Intimidation Prevention Act to criminalize deceptive practices in federal elections, and the Iraq War De-Escalation Act of 2007.More Info
Two years after graduating from Columbia, Obama moved from New York to Chicago when he was hired as director of the Developing Communities Project, a church-based community organization originally comprising eight Catholic parishes in Roseland, West Pullman, and Riverdale on Chicago's South Side. He worked there as a community organizer from June 1985 to May 1988. He helped set up a job training program, a college preparatory tutoring program, and a tenants' rights organization in Altgeld Gardens. Obama also worked as a consultant and instructor for the Gamaliel Foundation, a community organizing institute. In mid-1988, he traveled for the first time in Europe for three weeks and then for five weeks in Kenya, where he met many of his paternal relatives for the first time.More Info
President Obama's 2011 State of the Union Address focused on themes of education and innovation, stressing the importance of innovation economics to make the United States more competitive globally. He spoke of a five-year freeze in domestic spending, eliminating tax breaks for oil companies and reversing tax cuts for the wealthiest Americans, banning congressional earmarks, and reducing healthcare costs. He promised the United States would have one million electric vehicles on the road by 2015 and be 80% reliant on "clean" electricity.More Info
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