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Post by bot on Jul 30, 2013 14:37:20 GMT -5
Obama to call for business tax overhaul
WASHINGTON (MarketWatch) -- President Barack Obama on Tuesday will call for a restructuring of business taxes to generate revenue to fund job-creation programs. In a speech at an Amazon.com Inc. distribution center in Chattanooga, Tenn., Obama will propose using a one-time transition fee associated with the $2 trillion in foreign earnings now held overseas to fund job-creation efforts. Obama senior adviser Dan Pfeiffer said the president will call on lawmakers to work on a so-called grand bargain focused on middle-class jobs, pairing business-tax reform with jobs investment. Obama has previously called for rewriting individual and business-tax law at the same time.
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