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Industry opposes Obama tax on overseas profits
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By Eric Kulisch A major part of President Obama's economic blueprint for sustainable growth focuses on ways to promote U.S. manufacturing and create more jobs. One of the ways he wants to do that is through the tax code, lowering rates for companies that operate in the United States and closing loopholes for companies that shift production overseas. More specifically, the White House calls for eliminating the deduction for outsourcing and instead offering a credit to c...
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