Demand for equipment built by Caterpillar Inc. and others could receive a bounce from the fiscal cliff deal. A one-year extension of the accelerated “bonus” depreciation program will allow companies to deduct up to 50 percent of the cost of new capital equipment and property from their federal taxes. The program was set to expire at the end of 2012 before it received a reprieve. Other manufacturers, including Paccar Inc. and Deere & Co., also saw their stocks rise.
Globe wires January 03, 2013
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