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Monday, September 06, 2010
Obama to call for $100 billion business tax credit
Anne E. Kornblut and Lori Montgomery ―
Washington Post
Under mounting pressure to intensify his focus on the economy ahead of the midterm elections, President Obama will call for a $100 billion business tax credit this week, using a speech in Cleveland on Wednesday to launch what administration officials said was a new policy push.
The business proposal - what one aide called a key part of a limited economic package - would increase and permanently extend research and development tax credits for businesses, rewarding companies that develop new technologies domestically and preserve American jobs.
It would be paid for by closing other corporate tax loopholes, said the official, speaking on condition of anonymity because the policy has not yet been unveiled.
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