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Obama to GOP: Let's Cut Corporate Taxes

... but only if you agree to job creation measures

(Newser) - President Obama has a new "grand bargain" for Republicans, though it's a little less grand this time around. In a speech today, Obama will offer to overhaul the corporate tax code, reducing the rate and reaping a onetime windfall in the process, the Wall Street Journal reports. In... More »

Battery Maker That Grabbed $132M Stimulus Goes Broke

Is A123 Systems the new Solyndra?

(Newser) - A123, a battery maker that received $132 million in stimulus grants intended to promote electric vehicles, filed for bankruptcy yesterday, the New York Times reports, in a case that some pundits are already comparing to the Solyndra scandal. The bankruptcy is surprising, because the company had announced a deal to... More »

Fed Signals It's Ready to Act Soon on Economy

Minutes of meeting show members worried about recovery

(Newser) - Federal Reserve officials spoke with increased urgency at their last meeting about the need to provide more help for a weak US economy. In fact, many felt further support would be needed "fairly soon" unless things improved significantly. The minutes of the July 31-Aug. 1 meeting don't say... More »

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