Obama announces $300bn in business tax breaks
September 7, 2010
LARA MARLOWE in Washington US PRESIDENT Barack Obama will today announce $300 billion (Euro236 billion) in tax breaks for businesses as part of his campaign to restore the Democratic Party’s flagging fortunes before midterm elections on November 2nd. Mr Obama will explain the measures at a community college in Cleveland, Ohio, this afternoon. Businesses will be allowed to deduct all investment in new equipment through the end of 2011 from their federal taxes, at an estimated cost of $200 billion. The White House said Mr Obama will emphasise that it took years to create the economic crisis and “it will take more time than any of us would like to fully…
