New Business Tax Breaks To Be Backed By Obama This Week

WASHINGTON — President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of showing action on the economy ahead of the November elections.An administration official said the tax breaks would save businesses $200 billion over two years, allowing companies to have more cash on hand.

 

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