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2014 Budget – President submits Administration's proposals to Congress with tax changes for businesses

24 June 2013

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Proposed Changes

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United States

President Obama has submitted his Administration's fiscal year 2014 budget to the US Congress with tax changes for businesses. The significant proposals include: -   providing a temporary 10% tax credit for employers who increase jobs or wages in 2012; -   providing a tax credit for the production and the purchase of certain green energy vehicles; -   permanently extending the renewable electricity production tax credit and make it refundable; -   modifying and permanently extending the deduction for energy efficient commercial building property; -   designating 20 "Promise Zones" to promote job creation and investment in economically distressed...