Obama to Propose Expanded Tax Relief for Business Investments

President Barack Obama will call for an expansion of a tax incentive designed to encourage businesses to invest in equipment, as part of a push to bolster economic growth before midterm congressional elections on Nov. 2.

The White House will propose allowing companies to fully deduct the cost of equipment such as tractors, wind turbines, computers and solar panels, said an administration official who spoke on condition of anonymity ahead of the president’s announcement this week.