U.S. President Obama answers a reporter's question after delivering a statement on the economy in the press briefing room at the White House in Washington

Exclusive: Obama to propose $2.5 billion tax credit for community college investment

U.S. President Obama answers a reporter's question after delivering a statement on the economy in the press briefing room at the White House in WashingtonPresident Barack Obama will propose a $2.5 billion tax credit over five years for businesses that invest in programs at local community colleges and hire their graduates, administration officials said on Friday. The proposal, dubbed the Community College Partnership Tax Credit, would require businesses to donate funds for equipment, instruction, or internships related to programs in areas such as healthcare, energy and information technology. Employers that hire students from such programs would get a one-time, $5,000 tax credit per individual brought aboard.

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