Obama Plans Business Tax Cuts, Spending to Aid Growth

President Barack Obama is proposing to expand tax cuts for businesses and boost federal spending on the nation’s transportation system to help bolster an economy that’s losing jobs heading into the November congressional elections.

Obama tomorrow will announce a plan to expand a tax incentive to encourage business investment, an administration official said on condition of anonymity. He also will urge Congress to extend permanently and expand a research-and-development tax credit for businesses. Those two measures together would cost about $130 billion over a decade, according to White House figures.