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Industry Gets A Tax Break
The Kennedy administration and industry edge toward a tax break for wear and tear on capital as dep expiring times shrink. Textile machinery will drop from 25 to 15 years, with broader study of other sectors. Critics note obsolescence, while Treasury officials say schedules may even out over time.
MENTIONED IN THIS ARTICLE
New York
Treasury
Kennedy
House
Ways & Means Committee
Henry F. Fowler
Congress
Steel