Big Role for Tax Increases Fuels Criticism From Business Groups
Author: John D. McKinnon</br></br>Proposed tax increases for businesses and high earners that play a big role in the president's budget outline have a slender chance of passing Congress this year.</br></br>But some business and anti-tax groups worry the measures could re-emerge as presidential bargaining chips in an eventual budget deal with Republicans.</br></br>President Barack Obama's budget largely restates proposals he has pushed since taking office that have troubled many in the business community. The plan comes after several months of administration efforts to mend relations with business and the president's call last month for a corporate-tax overhaul.</br></br>Rather than offer a tax-overhaul plan, the budget includes numerous measures that, on net, would raise taxes on businesses and high-income individuals by about $327 billion during the next decade.