Intel Corp.

Lawmaker proposes tax help for big manufacturing firms

A Republican lawmaker whose proposal to give computer chip maker Intel a new way to use millions of dollars in tax credits was rejected by the full House pushed another proposal to cut taxes on manufacturing firms through a House committee Wednesday.

Chandler Rep. Jeff Weninger's new proposal extends a job-creation tax credit for big companies that had been set to expire this year until 2025. It also gives super-fast depreciation to Intel and other manufacturers in special trade zones that already pay an ultra-low tax rate on new equipment.

It indefinitely extends a current research and development tax credit that is supposed to be reduced next year.