Analysis: Businesses turn to tax fight, some stung by Romney bets

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http://www.reuters.com/article/2012/11/13/us-usa-tax-corporate-idUSBRE8AC05Q20121113

(Reuters) - Major U.S. businesses are plunging into the Washington tax policy debate now that the elections are over and some are in an awkward position after betting heavily on Mitt Romney.

The Republican, who lost in last week's presidential vote, was backed overwhelmingly not only by Wall Street, but also by the oil and gas, agribusiness, construction, private equity and transportation sectors, according to data from the Center for Responsive Politics.

That puts some businesses on the outs with President Barack Obama and his fellow Democrats, who tightened their grip on the Senate in last week's elections, some corporate lobbyists said.

"For most businesses, this wasn't necessarily their desired outcome ... There's some patching up that needs to be done," said Pam Olson, a tax lawyer at PricewaterhouseCoopers and a former senior tax official under President George W. Bush.