I would hope they're still allowed, wouldn't you? Incentivizing new factories incentivizes new job creation. The income from these jobs are taxed perpetually. Otherwise, companies will sit on the cash or distribute it to shareholders in the form of dividends, which increases the wealthy shareholder's wealth, with only a one-time 15% going to taxes.

This isn't to say that I don't want businesses taxed, but if a business had 10B in profits, but deducts 5B for capital improvements, then the 5B in remainder can be taxed at 15%