Business

Market movers

Manufacturers get a lift from tax deduction

Caterpillar makes construction equipment.

Associated Press/File 2012

Caterpillar makes construction equipment.

Advertisement

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.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com