Obama reaches for relevance with US$4t 2017 budget plan
His proposals, some of which may ultimately be adopted, are set to influence presidential campaign
Washington
US President Barack Obama was to send a fiscal 2017 budget of about US$4 trillion to the Republican-controlled Congress on Tuesday representing his aspirations for the future of the United States. A new tax on oil to fund advanced transportation projects. A "moonshot" to cure cancer. Billions of dollars to teach children to programme computers and to put out-of-work youth in summer jobs.
Little of it, as the Obama administration acknowledges, will become law anytime soon. Republican leaders in both the House and Senate said last week that their budget committees won't bother eve…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India's Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise