White House moves fail to win tech sector's favor


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Washington is readying a bill that would provide substantial tax credits and accelerated write-offs to small companies, but not all are supportive of the White House's recent economic moves.

Intel's ( INTC ) CEO, Paul Otellini, said to CNN Money on Tuesday that the $787 billion stimulus has done too little to kick-start the economy - and he suggested that the Obama administration's focus is in the wrong places.

"We should decide what's important to us going forward and make sure we've got the education system in place and the capital incentive system in place to do the investment here," Otellini said.

His remarks come as the Senate moved a small-business aid bill - the Small Business Jobs Act of 2010 - past a key procedural hurdle. The bill, which would let small firms qualify for several tax credits for which they aren't currently eligible, could reach the president's desk by next week.

If it passes, it could mark a significant victory for the Obama administration - and it may help improve businesses' perception of the White House into the bargain.

By Steve Monfort

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Personal Finance , Business , Economy

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