President Barack Obama has ordered the US Treasury to implement tax cuts for "95% of Americans" by 1 April.
The tax cuts are part of a $787 billion economic recovery plan passed by Congress. The aim is to stimulate the economy by increasing consumer spending.
The package included $US282 billion in tax cuts.
In a weekly radio address on Saturday, Mr Obama claimed "a typical family" would take home "at least $65 more every month."
On Friday, former Federal Reserve Chairman Paul Volcker said the global economy may be deteriorating even faster than during the Great Depression of the 1930s.
