Tax Cuts For Small Businesses | featured news

The White House is threatening to veto an effort by House Republicans to cut taxes for millions of smaller businesses, calling it an unproductive giveaway to many of the country's most profitable companies.

The Obama administration is considering a range of new measures to boost economic growth, including tax cuts and a new nationwide infrastructure program, according to people familiar with the discussions. On the list of possible actions: additional tax cuts for small businesses beyond those included in a $30 billion small-business lending bill before the Senate. It's not clear what those tax breaks would target or how much they might cost in lost revenue to the government.

President Barack Obama proposed on Tuesday small business tax cuts, fresh infrastructure spending and energy efficiency rebates to boost jobs, but there were few details on the scale or cost of the measures.