PLANT EXPANSION
How Industry Gets the Cash It Needs
FAST tax write-offs do not provide the basic solution to the financial difficulties of every industry for large amounts of money required for long-lived equipment. The fundamental solution lies in the revision of the overall tax structure to recognize the limitation that inflation imposes on the replacement of equipment." With these words last week, U.S. Steel Chairman Roger M. Blough pointed up a problem that goes far beyond the immediate argument over ODM's refusal to grant fast tax write-offs to ease the steel shortage....
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