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Earlier in the day, the White House provided details of Mr. Obama’s proposals for new tax breaks for manufacturing and U.S. companies that decide to return to making products domestically rather than overseas.

White House National Economic Council Director Gene Sperling told reporters on a conference call that the new tax incentives would not add to the deficit.

The packages consists of a half dozen new tax proposals the president wants Congress to pass soon, and his economic advisers promised to detail even more corporate tax reforms in the next few weeks before the White House plans to send its budget to Congress on Feb. 13.