TAXES: Incentive

The National Security Resources Board, under hustling Chairman W. Stuart Symington, last week announced a broad policy to speed up plant expansion, thus make more materials available for both rearmament and civilian goods. Under NSRB’s policy, manufacturers will be able to make sizable tax savings by writing off new plants in five years (instead of as long as 50 at present), providing NSRB approves them as necessary for the defense program. Such approval would probably not be hard to get for many companies. Said Symington: a firm does not have to be making arms to take advantage of the tax-saving device; even if it is only “indirectly” contributing to the armament program, it is eligible. Under that liberal interpretation, it looked as if U.S. industry would do plenty of expanding.