Stung but not defeated by President Clinton's veto last month, a group of banks and other financial services companies are hoping to work out a deal to create a tax break for U.S. financial firms operating overseas.

Companies such as Citibank, Household International, and Ford Motor Credit, as well as the American Council of Life Insurance, are working to get administration support for a measure that would allow them to defer taxes on income earned by offshore units.

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