Financial Times FT.com

Silicon Valley voices concern over new rules

By Richard Waters in San Francisco

Published: May 5 2009 00:55 | Last updated: May 5 2009 00:55

The Obama administration on Monday opened a rift with Silicon Valley, home to one of its strongest group of corporate supporters, as it championed new tax rules that would have an outsized impact on the technology industry.

The proposed changes brought the first cracks in a relationship that has cemented the reputation of President Obama’s White House as an unusually technocratic, forward-looking administration.

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