The plan also would make it harder for individuals to stash money in overseas accounts to avoid taxation. Obama will roll out his ideas in an announcement at 11:05 a.m. EDT, where he will be joined by Treasury Secretary Timothy Geithner.

U.S. officials said Obama wants to follow through on a campaign promise to change the tax treatment of firms with overseas operations.

That portion of his plan -- opposed by such firms as Pfizer Inc and Oracle Corp -- would raise more than $100 billion in revenue in the next decade....

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