Obama to Propose $100 Billion Permanent Extension of Research Tax Credit
(Bloomberg) — President Barack Obama this week will urge Congress to permanently extend and expand a research and development tax credit to encourage job growth. Obama will lay out the proposal, which would cost about $100 billion over the next decade, in a Sept. 8 speech on the economy in Cleveland, Ohio, according to two administration officials speaking on condition of anonymity before the announcement. Obama has promised to roll out “new ideas” to boost growth and spur hiring as he focuses on the economy with less than two months until the November congressional elections.
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