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Obama Administration Weighing Tax Incentives

Posted by: Mark Marich on September 08, 2010 Source: Policy Dialogue on Entrepreneurship

Several news sources reported at the end of last week that the Obama team is seriously weighing a package of business tax breaks worth hundreds of billions of dollars with the hopes of boosting employment. The Washington Post reported that under consideration are a temporary payroll-tax holiday and a permanent extension of the now-expired research and-development tax credit.

Politico reported that some sources confirm that a second stimulus package is not part of the discussions. This is probably good news for entrepreneurs. A Kauffman survey of entrepreneurs revealed that only 33 percent of entrepreneurs supported the stimulus.

We look forward to reporting on the policy path that the Administration will take. With mid-term elections approaching, we should hear some more news about this soon. Taxes influence decisions regarding hiring, financing structure, ownership structure, and even the very decision to launch a business. Given these incentive effects, it is important that this Administration question whether our taxes are helping or hindering entrepreneurially-driven economic growth.

Category:  General  Tags:  Obama, taxes

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