US: GM’s sweetheart tax deal

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US: GM’s sweetheart tax deal

CNN – The U.S. Treasury is giving up $14 billion in tax revenue because of a sweetheart deal it’s giving General Motors. The automaker is expected to post its first profitable year since 2004 when it reports fourth-quarter results on Thursday. But GM (GM) won’t have to worry about being hit with a big tax bill because billions in previous losses will provide shelter for years to come. Read article

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