The Norman Transcript

Nation/World

July 31, 2013

Obama challenges GOP to accept corporate tax deal

CHATTANOOGA, Tenn. — President Barack Obama on Tuesday offered congressional Republicans a new corporate tax cut and jobs spending package he said might “help break through some of the political logjam in Washington,” only to have GOP lawmakers immediately throw cold water on the idea.

The announcement and quick rejection underscored how elusive common ground is between the Democratic White House and Republicans in Congress on fiscal issues. The divide was particularly stark on the corporate tax proposal, given that both parties generally have supported overhauling the code for businesses.

Obama outlined his proposal in a speech at a massive Amazon.com plant in Chattanooga, his latest stop on a summertime campaign to refocus his agenda on the economy. He said “serious people” in both parties should accept his offer.

“I’m willing to work with Republicans on reforming our corporate tax code, as long as we use the money from transitioning to a simpler tax system for a significant investment in creating middle-class jobs,” Obama said. “That’s the deal.”

But the office of House Speaker John Boehner, R-Ohio, complained that Obama’s plan was simply a repackaging of proposals the White House has always supported.

Boehner and the White House also dueled over the proposal’s rollout, with the speaker’s office saying officials there first learned about the plan from media reports. An Obama spokesman said the White House tried to tell Boehner’s staff about the plan a day in advance but the call was not returned.

The president’s new offer calls for lowering the corporate rate from 35 percent to 28 percent, with an even lower effective tax rate of 25 percent for manufacturers.

1
Text Only | Photo Reprints
Nation/World
  • At mudslide scene, Obama mourns with survivors

    OSO, Wash. — Swooping over a landscape of unspeakable sadness and death, President Barack Obama took an aerial tour Tuesday of the place where more than three dozen people perished in a mudslide last month. He pledged a nation’s solidarity ...

    April 23, 2014

  • GM, lawyers fight over protections

    DETROIT — General Motors Co. and a battalion of trial lawyers are preparing for an epic court fight over whether GM is liable for the sins of its corporate past. The company is asking a U.S. bankruptcy court to shield it from legal claims ...

    April 23, 2014

  • Boston Marathon One year after tragedy, 32,000 run Boston Marathon

    BOSTON — Some ran to honor the dead and wounded. Others were out to prove something to the world about their sport, the city or their country. And some wanted to prove something to themselves....

    April 22, 2014 1 Photo

  • Festivities, tight security before race

    BOSTON — In many ways, it felt like any other pre-marathon Sunday in Boston....

    April 21, 2014

  • Boston race makes room for those affected by bombs

    BOSTON — “I need to run.” The messages started arriving just hours after the bombings, pleading for an entry into the 2014 Boston Marathon. For months the calls and emails continued, runners begging for an opportunity to cross the finish ...

    April 21, 2014

  • Documents detail another delayed GM recall for failed power steering

    DETROIT — General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government documents released ...

    April 20, 2014

  • Landslide devouring part of Wyoming town

    JACKSON, Wyo. — A slow-motion disaster continued unfolding in the Wyoming resort town of Jackson on Saturday, as a creeping landslide that split a hillside home threatened to swallow up more houses and businesses. The ground beneath the ...

    April 20, 2014

  • Questions about missing Malaysian plane answered

    Travelers at Asian airports have asked questions about the March 8 disappearance of Malaysia Airlines Flight 370 while en route from Kuala Lumpur to Beijing. Here are some of them, followed by answers. Samuel Rogers is a 20-year-old ...

    April 20, 2014

  • NASA’s space station Robonaut finally getting legs

    CAPE CANAVERAL, Fla. — Robonaut, the first out-of-this-world humanoid, is finally getting its space legs....

    April 20, 2014

  • Hostage French journalists in Syria freed

    PARIS — Four French journalists held hostage in Syria for 10 months have been released, officials said Saturday, the latest batch of reporters to be freed in what has become the world’s deadliest conflict for the media....

    April 20, 2014