Obama calls for $200B for jobs
by cbc.cacanadian press
U.S. President Barack Obama on Tuesday proposed increased stimulus spending aimed at U.S. job creation.
He asked Congress to approve a three-part program, much of it aimed at small business.
Obama said staggering job losses mean the country must continue to "spend our way out of this recession" with a round of new incentives. The U.S. unemployment rate is 10 per cent.
His program includes a one-year elimination of capital gains taxes, deductions for up to $250,000 in investment and increased deductions for capital spending, all aimed at small firms. The program would also provide tax incentives for firms that create jobs and easier terms for borrowing.
Obama also called for increased spending on roads, bridges, and other infrastructure and incentives for homeowners who retrofit their properties to use clean energy or become more energy efficient.
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