Through much of the summer and fall, Republicans warned that President Obama’s call to let the Bush-era tax cuts expire for the top 2 percent of earners  individuals with incomes above $200,000 and families making more than $250,000  would harm small businesses. The income of many business owners is taxed at individual rates. Democrats countered that only 3 percent of all businesses made enough to be affected, but Mr. Obama conceded.

In addition, Congress has added more than $50 billion to extend an assortment of business tax breaks to benefit a variety of industries  including the renewable energy, ethanol, computer and publishing companies and oil drillers.

Some businesses say that the tax breaks are little more than a giveaway, intended to win support of Republicans in Congress and salve the president’s strained relations with business leaders. Dennis Mehiel, chairman of U.S. Corrugated Inc., was one of dozens of millionaires who wrote to Mr. Obama asking that he raise the top tax rates on the wealthy. While Mr. Mehiel says he thinks that the research and development and depreciation breaks will help some businesses, he fears that the overall package is a poor use of public money.

“I have no belief that hiring, business expansion decisions, investment decisions will be materially impacted by maintaining the somewhat lower tax rates,” said Mr. Mehiel, whose company employs 2,500 people at 20 package manufacturing facilities.

To many manufacturing companies, however, the tax deal has the effect of both reducing their own burdens and increasing orders from other businesses that will have incentive to buy equipment and supplies.

“These are catalysts for job creation,” said Monica McGuire, a policy analyst at the National Association of Manufacturers.