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12 December 2019 The on-line newspaper devoted to the world of transports 20:46 GMT+1



October 19, 2004

2 Shipbuilders Get Big Breaks in New Tax Bill

By Edmund L. Andrews

WASHINGTON, Oct. 18 - A little-noticed provision in the sweeping corporate tax bill that passed Congress last week would reduce taxes at two major military contractors by nearly $500 million over the next 10 years.

The provision, which primarily benefits General Dynamics and Northrop Grumman, would allow shipbuilders to postpone their taxes for years on profits from building ships and submarines for the Navy ......
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