States blow off Bush. (The Taxonomist).(state response to corporate tax cuts)(Brief Article)

WHILE POLITICIANS IN WASHINGTON HAVE BEEN FALLING over themselves to provide huge new tax breaks to corporations and the wealthy, the story in the states is quite different and quite heartening. Take, for starters, states' response to the big corporate tax cut that Congress passed in March at President Bush's insistence.

By law or by custom, almost all states--with the notable exception of California--follow federal rules in their corporate income tax codes. As a result, the central provision of Bush's so-called stimulus bill--a vast increase in corporate depreciation ...

Read the rest of this article with a Free Trial at HighBeam Research.