The President prepares to Unveil and Extended Tax Cut for Businesses

According to a report by Ed Henry, CNN Senior White House Correspondent, President Obama will share his plan to include a proposed extended tax cut that the business community widely supports. His ultimate goal is to have Congress permanently impose the tax credit for business doing research and development. The $100 billion dollar price tag will be offset by discontinuing other corporate tax breaks.
He plans to make his plan known on Wednesday, when he visits Cleveland, Ohio, a town that has been hard hit with the failing economy. According to officials, this will be only part of his plan that he plans to make known. Other ideas include a possible payroll tax holiday and new infrastructure spending.