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Wed 09 Sep 2010Obama announces $300bn in business tax breaks
US PRESIDENT Barack Obama will today announce $300 billion (€236 billion) in tax breaks for businesses as part of his campaign to restore the Democratic Party’s flagging fortunes before midterm elections on November 2nd.
Mr Obama will explain the measures at a community college in Cleveland, Ohio, this afternoon. Businesses will be allowed to deduct all investment in new equipment through the end of 2011 from their federal taxes, at an estimated cost of $200 billion.
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