Obama wants new stimulus, small business tax cuts

Obama urges government to do more to create jobs during Washington speech

President Obama today just wrapped up a speech at the Brookings Institution in Washington urging the federal government to do more to help smaller businesses to help create jobs.

Obama’s new proposal aims at investing $50 billion for infrastructure, the removal of capital-gains taxes on new investments for up to a year, more investments in clean energy, and likely most importantly, a tax break for small businesses. The main hope, besides getting firms to increase capital spending, is to get small businesses to hire more people as U.S. unemployment remains above 10-percent.

The Obama administration did not specify how much money the new initiative would cost, but did confirm the money would come from new debt and not from TARP.

Obama said during his speech that there is, “an urgent need to accelerate job growth in the short term,”

The new urging of the President comes as Japan announces its own new $80.6 billion (Y7,200 billion) economic stimulus plan.

The White House says the 2009 $787 billion stimulus package (see our Feb 17, 2009 coverage when the bill was signed by the President) increased employment by 650,000.


tag TAGS: , ,
Short URL: http://business2press.com?p=4665
Recommended:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Tahir holds a Bachelor Commerce Finance degree from Ryerson University in Toronto. He is planning to purse an MBA in Finance. Write to tahir@business2press.com
checkmark
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
b2p
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions
  • Chris

    Here is what is actually happening – Higher Employee Income Tax Withholding in 2010
    New IRS 2010 tax tables increase employee federal tax withholding and employer 941 payment liability. read more and see tables at http://bit.ly/90FN8N

  • Chris

    Here is what is actually happening – Higher Employee Income Tax Withholding in 2010nNew IRS 2010 tax tables increase employee federal tax withholding and employer 941 payment liability. read more and see tables at http://bit.ly/90FN8N

  • sinkingship

    I don’t understand how this is actually a small business tax cut, when our bottom line decreased as usual while the IRS takes more out of our pocket with the 941 payments!!!

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo

StockFractions.com has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo

title

Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press