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Obama to propose research tax credit

09-06-2010 14:24 BJT

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US President Barack Obama will ask Congress to increase and permanently extend a tax credit for business research as a way to boost job growth.

Obama will call on Congress on Wednesday to ask for an increase to 17 percent from 14 percent, for one of two credit options available to businesses.

The proposal would cost 100 billion US dollars over 10 years. Obama said the plan would be paid for by closing other corporate tax breaks.

The US president has been recently pushing measure to create jobs in order to help his Democrats hold onto Congress, with the mid term elections just 2 months away.


Editor:Zhang Pengfei |Source: CNTV.CN

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