Republicans Balk at Obama Business Tax-Break Proposals They Backed in Past

[Purveyor]

By Catherine Dodge

Sept. 21 (Bloomberg) -- In a letter to President Barack Obama seven months ago, 10 Republican senators led by Utah’s Orrin Hatch urged him to use tax relief to bolster the U.S. economy and create jobs.

Top on their list: extend and improve a research and development tax credit for businesses. “We urge you to help us enact a strong research incentive to keep us first in the world,” the senators wrote.

Another tax break long popular with Republicans would let companies immediately deduct the cost of capital investments. In 2008, House Republican leader John Boehner of Ohio described it as giving employers “greater incentive to invest and create jobs for more Americans searching for work.”

Obama this month offered both proposals as part of his push to spur economic growth. Now, with House and Senate elections looming on Nov. 2, Obama’s proposals are getting a chilly reception from Republicans. They say Obama’s plans are flawed because he would also let the Bush-era tax cuts for the wealthy expire and increase taxes elsewhere.

“There’s tremendous pressure on the Republican leadership, since things look so favorable for picking up seats, not to give the Democrats some type of advantage,” said Lee Edwards, a fellow at the Heritage Foundation, a Washington-based policy research group that promotes limited government.

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http://noir.bloomberg.com/apps/news?pid=20601087&sid=a4wlt_JC2ItI&pos=8

[ej510]

1. Wow what a shock!

[JuniperLea]

2. Flip flopping was only flip flopping when John Kerry did it.... eom

[4lbs]

3. It's been this way for a while. The Repukes throw out some semblance of an idea.

President Obama then says, "Ok, let's try that."

The Repukes come back with, "Wait, now we're against it."

:eyes:

[DCKit]

4. Guess it's up to the business owners...

to explain to their employees how everyone (including the general public) would benefit from these breaks.

[vaberella]

5. That's how they roll. n/t

[impik]

6. Well, people who are going to let them win - deserve to have them in power

[COLGATE4]

7. Headline: Republicans balk at Obama's _______________

fill in the blank. No news here - just the same damned obstructionism we've seen since day 1.