More corporate tax breaks added to homeowner rescue bill

[flashl]

Tab for Senate bill now up to around $20 billion; House members question funding

(Reuters)— U.S. Senate Friday added another business tax break to legislation billed originally as a rescue plan for struggling homeowners.

Lawmakers voted 76-2 to let money-losing corporations accelerate their use of certain accumulated tax credits to make new business investments.

Sen. George Voinovich, a sponsor of the amendment, said it would help companies that are in the red and cannot take advantage of another business tax break approved by Congress earlier this year involving accelerated bonus depreciation.

Giving money-losing companies a tax break will help them create more jobs and that, the Ohio Republican said in a statement, will help people pay their mortgages.

Financial Week

More trickle-down?

[AnneD]

1. If there is anymore trickle down....

I'llm have to use my rebate check to buy an umbrella.