Jan 8, 2009

Obama tax plan runs into opposition in Senate

Senators say tax portion of Obama's stimulus plan is unworkable.

President-elect Barack Obama's proposed tax cuts are running into opposition from senators in his own party who say they won't do much to stimulate the economy or create jobs

They were especially critical of a proposed $3,000 tax credit for companies that hire or retrain workers. Democratic Sen. Kent Conrad of North Dakota described it as "misdirected."

More here.