The planned deductions are intended to encourage companies to invest in equipment such as computers and utility generators, stimulating the economy The New York Times reported. It would cost about $200 billion in revenue, although in the long run that cost would shrink to $30 billion.
Obama will announce the plan in a speech on Wednesday in Cleveland, along with measures including $50 billion for infrastructure investments. The speech will also include a provision to expand and make permanent a tax credit for company research and development.

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