The American Business Journal: Obama to push for tax break

Obama to push for tax break
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Canadian News on 07 September, 2010 10:01:00
 
ABJ Sep 7 - U.S. President Barack Obama is set to propose that companies be
allowed to more quickly write off 100 per cent of new investments in plants and
equipment through 2011.
The proposal tops a list of other announcements, from a proposed expansion of
the research and experimentation tax credit to $50 billion in additional
spending on roads, railways and runways.
Companies will be able to deduct new investment expenses, but over a longer
period of time, from three to 20 years. The proposed change, which would let
companies keep more cash now, is meant to give to those who may be hesitant to
invest an incentive to expand, spurring a currently stalled American economy.