House Passes 20% Tax Cut For Businesses

By Lisa Mascaro and Don Lee, Los Angeles Times, Chicago Tribune: Business
Thu, 04/19/2012 - 5:36pm

Critics said the tax cuts for companies with fewer than 500 employees would add $46 billion to the deficit and do little to create jobs.WASHINGTON — Despite a veto threat from President Obama, the Republican-led House approved a 20% election-year tax cut for most companies intended to entice them to pick up the pace of hiring and, thus, boost the economy.

Topics: washington president obama republican-led house tax cut companies

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House Passes 20% Tax Cut For Businesses

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