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Obama Seeks $100 Billion in New Taxes on Multinationals

President Barack Obama proposed raising about $100 billion in revenue over the next decade through new taxes and restrictions on U.S. multinational companies.

The changes, included in his budget plan for fiscal 2015, would affect digital goods, deductions for “excessive” interest and so-called hybrid arrangements that can lead to income that isn’t taxed in any country, according to the budget. Obama also wants to make it tougher for U.S.-based companies to move to other countries.