12/26/2024

California Grants $420 Million Tax Break to Lockheed Martin Corp.

The Legislature went home for a month Thursday, but not before handing aerospace giant Lockheed Martin Corp. a controversial $420-million tax break.

Branded as a sweetheart deal for Lockheed, the bill sailed through the Assembly and Senate — but only after critics forced state officials to pledge that they would seek a similar incentive for aerospace rival Northrop Grumman.

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