The Associated Press
President Barack Obama stands with, from left to right, Denise Gibson from Brooklyn, N.Y., Jim Chukalas from Fredon Township, N.J., and Leslie Macko from Charlottesville, Va., all unemployed, as he speaks about the unemployment insurance and the economy in the Rose Garden of the White House on Monday in Washington.
WASHINGTON (AP) - A White House official says President Barack
Obama will ask Congress to permanently extend research and
development tax credits for businesses as a way to spur economic
Obama will outline the proposal Wednesday during a speech on the
economy in Cleveland. The official says the $100 billion proposal will be paid for by closing other corporate tax breaks.
The official spoke on the condition of anonymity because the proposal has not been formally announced.
The proposal was first reported by The New York Times.
(Copyright 2010 by The Associated Press. All Rights Reserved.)