U.S. President Barack Obama. PHOTO/File
President Barack Obama, seeking to break Washington's fiscal stalemate, is proposing cutting corporate tax rates in exchange for more spending on jobs programs. However, his offer was immediately panned by congressional Republicans, casting doubts about its prospects.
The White House painted the new offer as a way for Washington to create jobs and generate short-term economic growth even as hopes for a grand deficit reduction deal fade. Obama
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