Business Report: Exxon Mobil could bring jobs to Gulf Coast

A big investment from Exxon Mobil could bring many new jobs to the Gulf Coast.

The President has praised Exxon Mobil as the company announced it will create thousands of jobs by spending $20 billion over the next 10 years on plants along the Gulf Coast.

The plans started before Trump took office and includes investments that began in 2013 and would create 12,000 permanent jobs and about 35,000 construction jobs.

Exxon Mobil currently has about 71,000 employees.

The risk of facing an IRS audit dropped to 0.7% in 2016, the lowest since 2003. The decline coincides with reductions of IRS personnel who conduct audits and comes amid Trump administration budget plans that could further cut the enforcement staffing. But higher income earners generally face higher audit percentage rates. Taxpayers whose annual income is $200,000 or more face an audit rate of about 1.7% and those with income above $1 million face a rate of 5.8%.

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