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Fedex boss pleads for fuel tax credits

The head of Fedex, Fred Smith, has called for the US to ease the burden of
rising energy costs by introducing a tax credit for fuel costs and cutting other
taxes.

‘With fuel prices up and the housing meltdown, you see a very tepid growth
rate in the US economy. Congress and the administration ought to put stimulative
things out there,’ Smith said.

Smith was speaking as Fedex reported a 6% drop in net income to $479m for the
quarter ended 31 November 2007, the FT reports.

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