From the link:
White House Press Secretary Robert Gibbs said the president will announce a plan to offer businesses the chance to deduct 100 percent of the cost of qualifying capital equipment purchases made in 2011, double the amount allowed in the Emergency Economic Stabilization Act of 2008 (Pub. L. No. 110-343) and proposed for the small business bill (H.R. 5297) that is currently stalled in the Senate.
“We’re saying that for 2011, we believe that 50 [percent] should go to 100 [percent]. It builds off of an effort to get capital off the sidelines and into the economy,” Gibbs told reporters.
From the same link, here’s another excellent pro-business proposal:
The president also is pushing to make the research and development tax credit a permanent feature of the tax code, rather than continue to ask Congress to pass it as a temporary extension every year.
Making the R&D credit permanent and expanding it would cost about $100 billion over 10 years—a key reason Congress has not already done so—but Obama has argued that the change will benefit the economy by reducing business uncertainty about the credit’s future.
Update — here’s more on the R&D tax credit from Robert Atkinson, president of the Information Technology & Innovation Foundation:
It is welcome news that President Obama will ask Congress to expand and make the research and development (R&D) tax credit permanent. This will better enable the U.S. compete globally and make it clear that the United States has finally gotten off the sidelines in the fight for global economic competitiveness.
While expanding the credit from 14 to 17, as has been reported, makes sense. ITIF thinks an even more generous credit makes even better sense. ITIF estimates that expanding the credit from 14 percent to 20 per¬cent would create 162,000 jobs in the short to moderate run and an additional, but unspecified, number of jobs in the longer run – many of them high-skill, high wage jobs.