Sitting beside Hillary Clinton, Apple Computer Inc chairman and technology guru John Sculley enthusiastically applauded the president’s proposals to hike taxes and cut the budget deficit, the Associated Press reports: President Clinton’s plan includes a two percentage point hike in the corporate tax rate, a permanent investment tax credit for firms with revenues under $5m and a temporary credit for larger firms, and a permanent research-and-development credit; it calls for funding increases for Commerce Department technology projects, Labor Department worker training programmes and support for free-trade initiatives such as the North American Free Trade Agreement, but it is only a proposal – remember in the US, the President proposes, but Congress disposes.
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