Obama’s Business Critics Praise Compromise Extending Tax Cuts

Business groups critical of President Barack Obama’s labor, health and financial regulatory policies endorsed his compromise with Republicans to extend tax cuts and lower workers’ payroll taxes.

Obama’s deal to maintain for two years the Bush-era tax cuts that are to expire this month and give businesses more write-offs on research and machinery costs will help the economy by removing uncertainty that led to the complaints from executives, Bruce Josten, chief lobbyist for the U.S. Chamber of Commerce, said yesterday.