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John A. Perez
Assembly approves tax credits for aerospace industry
Assembly approves tax credits for aerospace industry

The California Assembly on Thursday approved a fast-tracked proposal to provide up to $420 million in tax breaks over 15 years for the aerospace industry. The bill by Assemblyman Steve Fox (D-Palmdale) would offer credits for an "advanced strategic aircraft program." The credits would be capped at $25 million annually the first five years, $28 million per year for the next five years and $31 million annually for the final five years. The tax credit program would expire after 15 years. The tax credits, should they go into effect, could help boost the chances for aerospace companies, such as Lockheed Martin, that are bidding for contracts for the Defense Department's Advanced Strategic...

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