This is often caused by overly long depreciation schedules for large capital investments by utilities.

The depreciation schedules were set presuming an ongoing monopoly.

The other move, worth up to $6 billion, would have speeded up this depreciation schedule, allowing companies to write off the $16,000 over three years.

"What made them attractive was the depreciation schedules and the passive losses."

Still others would cut corporate taxes through faster depreciation schedules and more liberal rules on the use of tax losses.

That change, and the new Federal tax law's less favorable depreciation schedules, have scared some developers away from building more rentals.

Foundation Health had changed its depreciation schedule, by deciding to write off assets over a longer period, spreading the costs.

Telecom, which has a much faster depreciation schedule and thus will tend to report lower profits, earned $53 million.

Other proposals would greatly reduce the amount of analysis that companies have to provide in justifying their proposed depreciation schedules.

Any excess can be written off using regular depreciation schedules.