Program Would Provide Help to Poor Areas
Associated Press
WASHINGTON —
The White House and House Speaker J. Dennis Hastert (R-Ill.) announced agreement Monday night on a program of tax breaks and other incentives to bring economic development to 40 poor areas around the country.
Certain capital gains taxes would be eliminated in these areas, to be dubbed “Renewal Communities,” and businesses would be eligible for a credit on wages. Details of the program will be released today.
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