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California grants $420-million tax break to Lockheed Martin Corp.
California grants $420-million tax break to Lockheed Martin Corp.

The Legislature went home for a month Thursday, but not before handing aerospace giant Lockheed Martin Corp. a controversial $420-million tax break. Branded as a sweetheart deal for Lockheed, the bill sailed through the Assembly and Senate — but only after critics forced state officials to pledge that they would seek a similar incentive for aerospace rival Northrop Grumman. At issue is a $55-billion Air Force contract to build next-generation bombers that is being sought by both Northrop and Boeing Co. Lockheed would be a major Boeing subcontractor on the project, and it sought the tax credit to help make the Boeing bid more attractive to the Pentagon. But Northrop cried foul, saying...

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