Taxes likely topic when Obama meets business group

WASHINGTON (BestGrowthStock) – International tax policies are likely to be among the topics discussed when President Barack Obama meets on Wednesday with a leading business group, the White House said.

“The president has long felt a fundamental unfairness in rewarding companies that are moving jobs overseas,” White House spokesman Robert Gibbs told reporters. “I don’t think that’s the only thing that will be discussed.”

Obama is scheduled to address the Business Roundtable on Wednesday.

He has proposed raising about $122 billion over a decade by tightening international tax rules for multinational companies. Among the most controversial ideas is a proposal to change the way companies can take deductions against income earned abroad.

“The president included in his budget the notion … of rolling back the tax break that allows people to enjoy the benefits of moving jobs overseas,” Gibbs said. “I’m sure there are those that will make their strong case for why they think there should be a tax benefit to that.”

“I think the president will make a case, has made a case, and it is in his budget a proposal that does not allow them to do that,” he said.

(Writing by Caren Bohan; Editing by Chris Wilson)

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Taxes likely topic when Obama meets business group