August 13, 2010
Andrew Presti- Author's Bio
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President Obama signed Aug. 10 legislation (H.R. 1586) that makes a handful of changes to the foreign tax credit as a way to help pay for a temporary increase in funding for Medicaid and education.
The signing of the Education Jobs and Medicaid Assistance Act of 2010 followed House passage of the measure after a partisan debate in which Democrats defended the legislation as necessary to keep civil servants on the job, and Republicans called it another bailout rife with tax increases that will result in the loss of 141,000 private-sector jobs.