Congress was almost certain to complete work on the major tax bill it has been laboring on this year when it returned to town in September. The bill substitutes new tax breaks, mostly for exporting manufacturers, for the elimination of the Foreign Sales Corporation/Extraterritorial Income (FSC/ETI) tax regimes that the World Trade Organization declared illegal. While some metal fabricating companies might benefit from the FSC/ETI replacement bill, most probably would not. However, a whole lot of fabricators would cheer loudly if Congress decided to add an amendment to the FSC/ETI bill extending the enhanced Section 179 equip-when it passed the Tax Simplification for America's Job Creators Act of 2004 by a vote of 424-0. That bill is different than the House version of the FSC/ETI bill.
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