Caterpillar (CAT +0.8%), Paccar (PCAR -0.6%) and other manufacturers could receive a bounce from the recently passed tax increase legislation. The bill includes a one-year extension of the accelerated depreciation program that allows companies to deduct up to 50% of the cost of capital equipment from their federal taxes. The bonus depreciation program is credited with stimulating demand, as companies opt to use equipment purchases as a tax shield.
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