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Obama going Dramatic for Tax Cut

In The Wall Street Journal by Jonathan Weisman and John D. McKinnon, Sept. 7, 2010. ({FP}pg. 1\4) President Obama is proposing that companies be permitted to deduct 100% of their new investment in plant and equipment through 2011. Currently, businesses can deduct new purchases over a five year period. Experts predict that the change could expand business purchases by 5% to 10%. President Obama is also pushing to add $50 million more in infrastructure investments to fix 1500 miles of roads, 4000 miles of high speed rail and 150 miles of airport runway. (President Obama, Mr. Hubbard, dean of the Columbia University School of Business, Mr. Hassett, economist, Mr. Emanuel, White House Chief of Staff, Mr. Otellini, CEO of Intel Corp, wsjreview.com).


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