Earlier this evening, President Obama announced the framework of a bipartisan deal between Congressional Democrats and Republicans on the tax cuts set to expire at the end of the year, as well as several other measures to accelerate the economic recovery. This compromise would extend the tax cuts for all income earners, extend unemployment benefits for an additional 13 months, and ensure numerous other benefits remain intact for those families hit hardest by the recession.

Watch the President’s remarks here.

The President acknowledged that there are provisions in this deal with which he disagrees, but his first priority remains restoring the economy and helping create jobs – and this agreement makes serious progress toward those ends.

This deal would make certain that in 2011 families keep their tax cuts and enacts a series of high yielding job-creation measures, including a 2 percent payroll tax cut for all working families. It also would provide extra incentives for investment by allowing business to completely write-off investments during 2011.

Many economists previously have argued that the provisions included in this agreement are among the most timely and effective methods for spurring job creation.

America’s economic recovery is the primary focus of President Obama and Congressional Democrats, and the President is committed to working with Congress to see this deal through to fruition.