After a six-month suspension of the controversial fast tax write-off program, the Office of Defense Mobilization reopened it last week. The program is much smaller than before, applies only to production of new items and research for the armed forces or the Atomic Energy Commission. Virtually eliminated are write-offs for expansion of such defense items as B-52 bombers; out completely are such onetime participants as railroads, airlines, utilities and the merchant marine.
When the program was devised during the Korean war to spur defense construction, companies in almost every industry were permitted to deduct about 60% of expansion costs from taxable income...
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