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Article: Huge tax break tailored to Pollin being considered on Capitol Hill: White House, some lawmakers guiding $238 million move.(A)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- November 17, 1999
- Author:
CopyrightCOPYRIGHT 1999 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The White House and some members of Congress are trying today to steer a $238 million tax break to Abe Pollin that would help defray his construction costs for the MCI Center, according to Capitol Hill sources.
The House and Senate are considering whether to include in an omnibus spending bill a retroactive, five-year tax credit so narrowly tailored that it would benefit only Mr. Pollin for now.
The proposal would allow businesses hiring at least 400 people and investing $25 million to finance their new businesses in the District's enterprise zone with federal tax-exempt bonds. The new employers also would receive a credit on their federal income ...