School of Business

Tax Increase for Multinationals Pays for Jobs Bill

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Description: Most of the talk about the Small Business Jobs Act (HR 5297) that Pres Obama signed on September 27 had to do with its provisions extending some depreciation and expensing allowances for small business, as well as the $30 billion in Treasury Department preferred stock investments in small banks, which would be expected to expand loans to small businesses. What was worse was that bigger businesses, especially multinationals, will be paying for a portion of the $42 billion bill via new tax payment obligations.
Language: English
Format: Article