President Obama Speaks, Answers Questions at End of Africa Summit - TIME
Obama was asked about taking executive actions on two issues: immigration reform and corporate tax inversions, in which businesses seek to lower their U.S. tax bills by moving their headquarters overseas. The administration has come under increasing pressure to act on both issues. But the administration is also taking heat from congressional Republicans over Obamas use of executive power. The House approved legislation last week that would authorize a lawsuit against Obama.
Obama defends executive action | TheHill
Democrats want retroactive limits to prevent U.S. companies from getting a foreign address by buying a smaller business. Republicans generally want to address the issue through a broader U.S. tax-code revamp that wont occur until 2015 at the earliest. The administrations move alters the prospects for at least eight U.S.
Obama Creates Africa Business Advisory Council - New America Media
Saul LoebAFP/Getty Images Obama said Wednesday, "it is important to remember that Hamas acts extraordinarily irresponsibly when it is deliberately citing rocket launchers in population centers." During a Q&A with reporters Wednesday at the close of the U.S.-Africa summit, President Barack Obama said he had no sympathy for Hamas. I have great sympathy for the people who are struggling in Gaza, he said, while reiterating that Israel has a right to defend itself. The comments came on the second day of a 72-hour ceasefire in Gaza, orchestrated by Egypt, in an effort to bring an end to the nearly four weeks of fighting in the region. During the ceasefire, leaders from Hamas and Israel have agreed to work toward a long-term end to the fighting, in negotiations aided by the Egyptian government. Obama said on Wednesday that his administration intends to support the process that is taking place in Egypt. The Presidents statements on Gaza were the highlight of an otherwise run-of-the-mill Q&A session with reporters, during which topics from Russian sanctions to the threat of Ebola were touched on, with little new ground broken. When asked about sanctions, Obama said they are working as intended in putting enormous pressure and strain on the Russian economy. The first question on Wednesday addressed an issue hanging heavily over many of the legislators in attendance at the summit: the spread of the deadly Ebola virus in West Africa in an outbreak which the CDC says has killed at least 932 people so far.
Obama Says Administration Seeking Ways to Curb Inversions - Bloomberg
The initiative the President's Advisory Council on Doing Business in Africa will be managed by the Office of the U.S. Secretary of Commerce and will be active for two years and more if the president desire it so. The council will comprise of up to 15 members of the private sector ranging from corporate executives to owners of small businesses in the fields of infrastructure, agriculture, consumer goods, banking, services and other industries. The members of the council, who will be appointed by the commerce secretary, will advise the president on matters of creating jobs for Americans and Africans, trade, financing arrangements, technology and encouraging entrepreneurship. The members of the council will be non-partisan and there will be no compensation or reimbursement for activities.