President Obama Pushes Tax Breaks

WASHINGTON (WIFR) -- One of the newest white house proposals is a tax break for businesses.

He wants to give them breaks on new investments in plants and equipment. Mr. Obama’s aides say companies would save about $200 billion dollars over two years. Supporters say the tax cuts would give companies more money to spend and that would allow them to hire new workers and bring down unemployment.

With mid-term elections looming, the president needs to reassure skeptical voters about his economic plans, but the white house insists politics aren't fueling the new proposals.

"The president's not here to solve the nation's problems on a political calendar he's here to solve them as they exist." said White House Press Secretary Robert Gibbs.

The president will announce details of his latest plan on Wednesday setting the stage for a new round of issues in congress.

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