President Barack Obama will call for a 100-billion-dollar business tax credit this week to boost the sagging US economic recovery, The Washington Post reported.

Obama will use a speech in Cleveland on Wednesday to launch what administration officials said was a new policy push, it said.

The proposal would increase and permanently extend research and development tax credits for businesses, rewarding companies that develop new technologies domestically and preserve American jobs, the report said.

It would be paid for by closing other corporate tax loopholes, the paper noted, citing an unnamed administration official.

Click here for full article!