Midterm Madness

Obama Reaches For Tax Credits

Some good news for Labor Day: President Obama will propose a new $100 billion tax credit for businesses in a Cleveland speech Wednesday. The cut would permanently boost cuts for research and development for companies that create new technology that’s produced stateside, keeping jobs in the U.S. Corporate tax loopholes will be closed to pay for the credits, The Washington Post reports. As midterm elections approach, Obama wants to show he’s doing concrete things to help the economy, encourage hiring, and show he’s not anti-business, as Republicans claim.