‘Fiscal cliff’ deal gives $11.2 billion in breaks to multinational banks-AP

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Included in Dec. 2012 “fiscal cliff” deal:

1/3/13, “New tax law packed with breaks for businesses,“ AP via Seattle Times

“An exemption that allows banks, insurance companies and other financial firms to shield foreign profits from being taxed by the U.S. The tax break is

important to major multinational banks and financial firms. Cost: $11.2 billion….

A tax credit for the production of wind, solar and other renewable energy. Cost: $12.2 billion.”…


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