Housing Bill Leads to Tax Breaks for Businesses

Two weeks ago the senate approved the Foreclosure Prevention Act, a bill that takes steps toward relieving American homeowners of the dangers of foreclosure. While this bill is a step in the right direction, its implications also extend to struggling industries such as automakers, airlines, and home builders, providing them with billions of dollars in tax breaks. The Senate bill included a provision that allows the nation’s largest home builders to claim millions in tax refunds by charging their current losses against profits made in the past.

For details and the complete story on the Foreclosure Prevention Act, please visit:
http://www.nytimes.com/2008/04/16/business/16bailout.html?th=&emc=th&pagewanted=print