Sunday, September 5, 2010

Obama plans $100 billion R & D tax credit

President Barack Obama will push Congress to pass a $100 billion plan to permanently expand the tax credit program for companies the invest in research and development.

The new proposal, which is part of the administration's overall plan to support job growth, was revealed today at a public address in Ohio. The plan will be partly funded by closing corporate tax loopholes.

However, many feel that the upcoming congressional session may see the Republicans continue to obstruct progress by filibustering bills in the Senate.  The Democrats will have an ever harder time passing legislation if they should lose control of the House or Senate in November.

Obama has been fundraising and stumping for candidates all around the country recently and this is likely to continue ot some degree all the way up until election time.  Currently there are plans for the president to attend an event with Pennsylvania senatorial candidate Joe Sestak, and to visit Minnesota for fundraising stops.

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