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Japan's Cabinet Approves $53 Billion Stimulus to Offset Tax Hike

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Japan's Cabinet has approved a $53 billion stimulus package to help offset the effects of an upcoming national sales tax hike.The stimulus spending measure passed Thursday is part of a supplementary budget for Japan's current fiscal year. The package, which must be approved by parliament, is intended to create 250,000 jobs. It includes steps to boost construction spending and help low income households.In April, Japan will raise its consumer sales tax from 5 percent to 8 percent to...

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