Republicans seeking tax benefits for cable, oil companies

[Newsjock]

Source: Sacramento Bee

Republicans negotiating the state budget are demanding tax breaks for companies such as cable television providers and oil producers, sources said.

Democrats so far have not agreed to the changes, which they estimate could cost the state as much as $500 million annually in future years. The tax dispute is one of several unresolved issues that legislative leaders and Gov. Arnold Schwarzenegger must negotiate before ending the state's record-long budget impasse.

Republicans want the new tax rules in exchange for suspending a business deduction known as "net operating loss." Senate Republican leader Dennis Hollingsworth, R-Murrieta, acknowledged Monday that Republicans have agreed to delay that deduction until 2012. The NOL benefit, which was supposed to begin this year, would give companies greater leeway to apply operating losses against past and future earnings.

... Republicans initially asked Democrats to reduce penalties for companies that underpay their taxes, but that change would have cost the state more than Democrats wanted to concede, sources said.

Read more: http://blogs.sacbee.com/capitolalertlatest/2010/09/republicans-seeking-tax-benefi.html

[itsrobert]

1. Trying to get COMCAST to fire MSNBC hosts

Quid pro quo

[FreakinDJ]

2. RATpubliCONs never saw a Corporation they wouldn't Pimp for

[DJ13]

4. Looks more like whoring to me

[andym]

3. People need to see this stuff here in CA. nt.

[Drale]

5. Everyone should write their senators

and tell them to tell the Republicans to GO FUCK THEMSELVES!