Obama Offers Tax Incentives to Spur Economy Amid GOP Skepticism

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President Obama unveils a $447 billion stimulus plan that includes $253 billion in tax cuts for individuals and businesses that he says were designed to create jobs and stimulate the nation's sluggish economy. These provisions “will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services,” Obama says during a speech to a joint session of Congress. But Republicans say short-term tax incentives will not work because businesses need tax certainty and permanence.

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