OBAMA TO PUSH TAX BREAK

It has been awhile since our last post so I thought this would be a good one to get back on track. I received the following news alert today and thought I would share it. As it says below the details will be released this coming Wednesday but if it does include the ability to write off 100% of new purchases for plant and equipment it could be a huge benefit for lots of businesses. I'm sure there will be all kinds of caveats and limitations but lets keep our fingers crossed that some of this actually comes to be.

__________________________________ News Alert from The Wall Street Journal

President Barack Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to write off 100% of their new investment in plant and equipment through 2011, a plan that White House economists say would cut business taxes by nearly $200 billion over two years. The proposal, to be laid out Wednesday in a speech in Cleveland, tops a raft of announcements, from a proposed expansion of the research and experimentation tax credit to $50 billion in additional spending on roads, railways and runways. http://online.wsj.com/article/SB10001424052748704392104575475920686869934.html?mod=djemalertNEWS