Obama hosting Twitter chat Monday at 2 p.m. ET

Beth Fouhy

President Barack Obama is set to do a Twitter chat on Monday at 2 p.m.

Obama announced on his @barackobama Twitter page that he would discuss his tax plan on the social networking website, where information is shared in 140-character microbursts known as tweets.

"Good to see lots of folks on twitter speaking out on extending middle class tax cuts. I'll answer some Qs on that at 2ET," the president tweeted. He signed the tweet "-bo," indicating he had composed the tweet himself.

Obama is asking people to use the hashtag #My2k when posting a question or comment.

The White House and the Obama re-election campaign have made extensive use of social media to promote the president's agenda. Obama and congressional Republicans are currently locked in a standoff over tax policy that must be resolved by Jan. 1 to prevent the so-called fiscal cliff of tax increases and broad government spending cuts from being triggered.