Obama calls for rise in small business write-offs

Published July 11, 2012 1:39pm ET



WASHINGTON (AP) — President Barack Obama is calling on Congress to increase the amount of investments small businesses can expense next year.

The White House says Obama wants lawmakers to let small businesses write off up to $250,000 in expenses. Officials say the initiative is included in Obama’s proposal earlier this week for Congress to end tax cuts for families making more than $250,000 a year.

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