Monday, September 6, 2010

President Barack Obama fought for business development tax incentives

President Barack Obama fought for business development tax incentives : United States President Barack Obama will urge Congress to approve the expansion of policy coverage and tax incentives for research and business development. Two government officials who are unwilling to reveal unnamed Obama will announce detailed plans in tax incentives in a speech on 8 September in Cleveland. The facility is expected to swallow the tax budget of U.S. $ 100 billion for a decade.

White House economic advisor is also preparing the proposed provision of more tax deductions for small businesses and additional spending for infrastructure.

Previously, the United States economic recovery is expected following a slowdown choked on a number of indicators, ranging from the housing sector up to U.S. dollar exchange rate.

Among analysts, including JPMorgan Chase & Co. in New York, cut its estimate for U.S. economic growth rate to 2.1% in quarter II/2010 or down from previous forecast of 3.2%. Semester II/2010 expected to grow only 2.75%.

The median forecast of 61 economists surveyed by Bloomberg, released today says the housing sector is expected back in June because of weaker construction and sales decrease performance.

Tu Meanwhile, new home construction is estimated only 580,000 units, down 2.2% from the record in May The rate was the weakest this year. Actual data at the Commerce Department is scheduled to be announced July 20.

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